Median Monthly Fees Increased 6% For Independent Living Units In 2023

In April 2023, the monthly cost for independent living units increased by a median of 6% compared to costs the previous year, according to the April CFO Hotline survey of more than 250 chief financial officers (CFOs) and financial executives for non-profit senior living facilities. The fee increases ranged from 0% to 13%. Regionally, independent living monthly unit fees increases ranged from an average of 5.71% in the Northeast, 6.36% in the Midwest, 6.45% in the South, to 6.86% in the West.

From 2013 to 2021, the median monthly independent living unit cost increased by . . .