Senior apartments, independent living communities and assisted living facilities are classified under homes for the elderly, where services may include room, board, supervision and assistance in daily living, such as housekeeping.
Overall, the occupancy rate for senior housing facilities has been consistently growing during the past five years. In the second quarter of 2015, the average occupancy rate for both independent living facilities and assisted living facilities averaged 89.0%, according to the National Investment Center for the Seniors Housing and Care Industry. Occupancy rates showed improvement in 2016 compared with previous years, suggesting that the recovery will remain stable.
Senior apartments are residencies that are legally restricted to seniors aged 55 and older, not required to be licensed and often have income restrictions. They are similar in design to “family” complexes, except they usually have elevators, interior halls, more common area, and only one and two bedroom plans.
Senior apartments do not have central kitchen facilities and generally do not provide meals to residents, but may offer community rooms, social activities and other amenities.
The physical building of an Independent Living facility is quite different then residential assisted living home. The available shared space depends upon the community. Most Independent Living communities include smaller kitchens or offer community meals in the dining area. The cost of the facility reflects on the space and its designated use.
There are different types of Independent living facilities but the most common types for seniors are: senior apartments, Low-income housing. Senior apartments are apartment complexes that are restricted by age, usually 55 plus. Some senior apartments are converted private cottages or converted apartment complexes. Most senior complexes are assembled or re-rebuilt from existing structures; handrails and pull cords are often built in as an additional value for seniors. Some senior apartments provide community services such as recreational programs, transportation services, and meals in a shared dining room.
Residential assisted living homes are perfect for seniors that need help with (ADL) the everyday activities of daily living. Assisted living homes provide a better quality care for their residents; because the nurse to resident ratio is substantially lower then a institutionalized facility.
The monthly cost of senior care communities can range anywhere from $7,000 and up, depending on the level of care. The cost of residential assisted living homes, also depend on the level of care and can range anywhere from $3,000 to $5,000.