According to Genworth Financials' 2021 Cost of Care Survey, the average cost of Assisted Living in Denver is $4,500 per month, which is around 5% higher than the Colorado average of $4,290. And as compared to the national monthly average of $4,000, Denver Assisted Living cost is 13% higher.
Assisted Living rates in Denver and the surrounding suburbs depend on multiple factors, including location, level of care, apartment size, and amenities offered in each community.
The nearest city to Denver in terms of distance is Bennett, where Assisted Living costs around $4,500 per month, The cost is similar to the monthly median Assisted Living in Denver. Seniors in Strasburg pay an average of $4,500 per month, which is similar to per month what their peers pay in Denver.
Apart from assisted living, seniors have multiple care options in Denver. The senior living you need depends on your required care level and medical conditions. For instance, if you require 24/7 medical supervision, a nursing home in Denver could be the better choice than Denver assisted living care.
Assisted living communities in Denver are designed for seniors who need assistance with ADLs and IADLs. And independent living is for active older adults who can live independently. Thus, assisted living costs are higher than independent living in Denver and lower than more intense medical care options through Denver nursing home and memory care facilities in Denver.
Senior living options with different levels of care available in Denver are:
Independent Living: Independent living is for active older adults who want to downsize to a home in a retirement community but don't need help to live completely alone.
Nursing Home: Seniors who require specialized care and 24/7 supervision should look for nursing homes.
Memory Care: These communities are for seniors struggling with Alzheimer's or other advanced forms of dementia.
Home Care: Caregivers provide services to older adults in their home to provide primary healthcare, meal delivery services, meal preparation, and transportation to and from appointments.
Continuing Care Retirement Communities (CCRC): A CCRC accommodates Assisted living, Independent living, and Nursing Home care. This means that you can live out the rest of your life in the same setting with on-site medical care.
The median home cost in Denver comes at $534,100. This brings Denver housing index to 184.3, which is higher than the Colorado housing index of 166.1. The overall cost of living index in Denver is 128.7 that is higher than the national average of 100 and higher than the state average of 121.1.
The population of Denver is 735,538. The median age in the city is 34.4, and about 11% of its population is age 65 or older.
Denver is quite diverse, with white, black, and Hispanic/Latino being the three most common ethnicities in the city, about 54% of residents identify as white alone.
The violent crime rate of 30.7 in Denver is higher than the national average of 22.7. And the property crime rate of 50.8 seems higher than the national rate of 35.4.
Seasonal Temperatures: Denver has a typical summer high of 0°F and a winter low of 0°F. And the yearly rainfall here is about 0 inches, while the snowfall is around 0 inch(es) on average.
Air Quality: The Average air quality index rating is usually 31, which is lower than the national average of 58.The index rating at or below 100 is considered satisfactory.
The health index of 92.5 indicates resourceful quality of healthcare services available for seniors, This index is lower than the state average of 95.8. The Denver hospitals cater their services to meet treatment requirements of seniors and people of all ages. Therefore, you can rest assured of getting the best possible care in Denver for any common or chronic health condition.
Different financial assistance options are available for seniors to pay the cost of Assisted living in Denver. In addition to government programs, the Denver area agencies and non-profit organizations provide helping hands towards better senior living in Denver, CO.
Private Pay: Private pay is the safest way to pay for Assisted Living in Denver. This is because you pay out-of-pocket for the low-income assisted living near you. Still, it might not be the easiest option for most seniors. In that case, you can use a combination of the following options.
Reverse mortgage: A reverse mortgage is a loan. An elderly homeowner with significant home equity can borrow against the value of their property and receive funds. The money can come in the form of a fixed monthly amount, a lump sum amount, or a credit line.
Medicaid and Medicare benefits: Every state has its own Medicaid program to help low-income residents with healthcare-related costs. In addition to medical care expenses, Medicaid covers certain long-term care costs for eligible seniors. However, you will need to meet the state-specific requirements to be approved for the Medicaid benefits in Denver. To pay for assisted living in Colorado, the state mainly uses HCBS Waivers (Home and Community Based Services). But this waiver does not finance the room and board costs in assisted living.
On the other hand, Medicare doesn't pay the cost of ADLs assistance for assisted living residents. Nevertheless, seniors can use Medicare benefits to pay for approved medical care needs in assisted living communities in Denver.
Veteran benefits: The VA’s (Veteran Administration) Aid & Assistance program in Denver, Colorado pays monthly pensions to eligible veterans and their spouses to help with assisted living payments. Veterans can also use their other benefits to pay for assisted living costs in Denver.
For more information about different ways to finance assisted living, visit our Assisted Living Colorado page.
Denver Assisted Living communities need to follow a comprehensive set of rules and regulations designed by Colorado. These regulations ensure that the facilities maintain top-level and secure care services for seniors. For instance, the Assisted Living care facilities in Denver go through extensive training and education for the caregivers. This enables caregivers to be skilled and professional while helping seniors with their daily needs. Visit our Colorado Assisted Living page to find more information on the state-specific rules and regulations.
Several government and non-profit agencies work together in Denver to provide seniors with more services. These services help seniors lead a better life in Denver. Depending on the Denver resources, they can include free meal delivery services, utility billing programs, medical programs, and others. Find out the available free resources for seniors from the Assisted Living Colorado Page.
BoomersHub can change without notice any of its compiled cost data provided by senior living communities. This data is used for informational purposes only and may have inaccuracies. In addition, actual independent living costs may vary depending on personal choices and situations.
For four months, we have lived in Clermont Park, Denver. We have left a community where we were involved for over 50 years. We have been welcomed with enthusiasm and friendliness by everyone since we arrived here. People here are friendly and open-minded. The staff is wonderful, from the executive director down to the custodians. They are all friendly and willing to help. I have always loved people and worked or volunteered my whole life. I have never seen a group without someone who could be considered a sour-apple. They are all peaches. Another note. Clermont Park is stunning and well-maintained. It's a joy to be there.