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What Is the Cost of Retirement Communities?: A Comprehensive Breakdown

Three senior women standing outside of their retirement home at Presbyterian Living in IL discussing the cost of retirement communities.

Choosing a retirement community for yourself or a loved one is a big decision, and understanding the cost of retirement communities and what retirement home prices look like is an essential part of the process. Being informed about these costs can help you make a decision that fits both your needs and budget. As you consider your options, here’s a look at the typical cost of retirement communities and how it can be influenced by the type of care and services provided.

Types of Retirement Communities

There are three general types of living options offered at retirement communities or “senior living communities.” These are independent living, assisted living, and skilled nursing care.

Senior living campuses that offer all three types of residences on the same site, such as our Presbyterian Living communities, are referred to as “Continuing Care Retirement Communities” or CCRCs. Choosing a CCRC means that your costs are paid up front, and your level of care is secured for the future. These are a great option for those who do not want to move if their level of care changes.

Types of Retirement Communities

Retirement community cost varies widely depending on the type of care and services offered. Here’s a quick overview of the main living options you’ll find, from independent living to higher levels of care:

Independent Living

Independent Living offers a vibrant, maintenance-free lifestyle with amenities, such as dining services, fitness programs, and recreational activities, while providing access to social opportunities and on-site conveniences.

Assisted Living

Assisted living supports seniors who need help with activities of daily living (ADLs), such as bathing, dressing or medication management. Residents enjoy private or shared apartments, personalized care plans, and social programs that promote engagement and connection—all while maintaining as much independence as possible. Assisted living costs reflect the level of support provided.

Skilled Nursing

Skilled nursing communities provide 24/7 medical supervision for individuals recovering from an illness or surgery, or managing chronic conditions. Licensed nurses and therapists deliver services, such as medication administration, physical therapy, and wound care, offering more intensive healthcare than assisted living.

Continuing Care Retirement Communities (CCRCs) / Life Plan Communities

Also known as Life Plan Communities, CCRCs combine all levels of living—independent living, assisted living, skilled nursing, and often memory care—on one campus. This model allows residents to age in place with confidence, knowing they have access to higher levels of care if their needs change. It’s a senior living option that provides peace of mind for residents and families alike.

Each of these senior living options supports comfort, connection, and continuity, ensuring that older adults can enjoy their independence while having the right level of care available when needed.

What Factors Affect the Cost of Retirement Communities?

Understanding the cost of retirement communities involves more than just looking at monthly fees. The retirement community cost varies widely depending on the type of senior living option you choose, your level of healthcare needs, and the amenities and services offered. Here’s a closer look at the main factors that influence retirement community costs:

  • Level of care: Independent living, assisted living, and skilled nursing each have different care requirements, which influence assisted living costs and overall pricing.
  • Type of community: A Life Plan Community or CCRC often includes entrance fees and ensures access to higher levels of care as needs change.
  • Location: Urban, suburban, or rural settings can affect the retirement home prices due to local demand and real estate costs.
  • Amenities and services: Features such as a fitness center, wellness programs, transportation, dining services, and cultural activities can increase the retirement community cost.
  • Floor plans and unit types: Larger apartments, private patios or villa-style homes generally cost more than standard units.
  • Healthcare services included: On-site skilled nursing, memory care, and rehabilitation programs, and other medical services impact monthly fees and long-term costs.
  • Optional add-ons: Concierge services, additional personal care packages, pet fees or upgraded finishes may increase costs.
  • Community lifestyle: Social events, hobby clubs, recreational programs, and other engagement opportunities can affect overall expenses.

A group of seniors working on a puzzle at Presbyterian Living Westminster Place

Costs of CCRCs vs. Other Retirement Communities

The costs of CCRCs and any other type of retirement community will vary, but the biggest difference is that CCRCs often require an entrance fee and monthly fee, while other retirement communities do not usually require the entrance fee.

CCRC

Entrance Fee: Nearly two-thirds of CCRCs—also called Life Plan Communities—require entrance fees or entry fees. This is the fee paid when first entering a new community and helps cover services used now and any care needed into the future. According to U.S. News & World Report, the average national cost of CCRCs is around $400,000.

Monthly Fee: The monthly fee paid at a CCRC is generally inclusive of housing, utilities, some meals, social programs, transportation services, and other amenities. Be sure to ask which amenities are included in the monthly fees as these can vary per community.

Independent Living

If you choose an independent living option outside of a CCRC, the median cost in Illinois ranges between $576 and $3,575 per month. This often includes your living accommodation and may or may not include services offered within the community. It also does not secure any future care. Understanding independent senior living costs can help you budget effectively.

Assisted Living

When not living at a CCRC, assisted living is often paid on a month-to-month rental agreement based on the assistance needed. According to Genworth, the average cost of an assisted living community in Illinois in 2024 was $5,836 per month. This typically includes housing, assistance with daily living tasks, some meals, utilities, and on-site programs. Ask your community contact which services and amenities are included in your monthly fee.

Skilled Nursing Care

Skilled nursing care centers provide 24/7 health and medical services, rehabilitation services, and assistance with eating, bathing, dressing, toileting, and ambulation. Skilled nursing centers generally charge daily or monthly rates. These rates are usually all-inclusive, which means meals, housekeeping, rehab care, and 24/7 medical. Genworth states the average cost of a semi-private room at a skilled nursing center in Illinois in 2024 was $7,908 per month.

A senior couple smiling and talking about the cost of retirement communities at Presbyterian Living Westminster Place.

The Vibrant Lifestyle at Presbyterian Living Communities

At Presbyterian Living, residents enjoy a dynamic, fulfilling lifestyle across our beautiful Life Plan Communities in the Chicago suburbs, including Lake Forest, Evanston, and Arlington Heights. Each community offers a welcoming, maintenance-free environment designed to enhance every aspect of retirement, while offering transparency about the cost of retirement communities and what residents receive for their investments.

Here’s what you can enjoy at Presbyterian Living:

  • Engaging social events: From holiday parties to themed gatherings, residents enjoy meaningful connections and fun.
  • Wellness programs: Stay active with fitness classes, yoga, and strength training to support physical and mental well-being.
  • Outdoor activities: Explore scenic walking trails, gardening clubs, and outdoor recreational areas.
  • Cultural experiences: Enjoy art workshops, music performances, and educational lectures that inspire creativity.
  • Dining experiences: Savor nutritious, chef-prepared meals in elegant dining rooms or cozy café settings.
  • Personal growth opportunities: Learn new subjects or hobbies, volunteer, or join clubs that enrich daily life.

This vibrant lifestyle blends wellness, engagement, and peace of mind—supported by clear information about the cost of retirement communities, helping residents plan confidently for their futures.

Options at Presbyterian Living in Chicago

Our Life Plan Communities (also called Continuing Care Retirement Communities, or CCRCs) combine dynamic living with long-term security. Residents can enjoy spacious apartments or villas in Independent Living, knowing that if healthcare needs change, Assisted Living, Skilled Nursing, Rehabilitation, Respite Care, and Memory Care are available on the same campus.

At Presbyterian Living, retirement is about more than comfort—it’s about living life to the fullest, surrounded by opportunities to learn, connect, and thrive. Each community offers personalized services, engaging amenities, and peace of mind through transparent information about the cost of retirement communities, empowering residents to enjoy a confident, fulfilling future.