Cost of Assisted Living: What to Expect and How to Plan

With 17.7% of the population being over 65, Missouri is a state with a lot of seniors to care for. If your older loved one requires additional assistance, a retirement community can help them age gracefully and happily.
Here, we'll talk about the cost of assisted living in Missouri so you know what you're getting into. Read on to get the information you need for effective financial planning for seniors.
The Average Cost of Assisted Living in Missouri
Genworth reported in 2024 that average Missouri assisted living expenses were around $4,851 monthly.
However, there's a lot of variation in the cost of assisted living. Some areas of the state only charge about $4,120 per month. Assisted living costs about $5,779 in other parts of Missouri.
Community quality is the main factor that influences costs. Assisted living communities that offer more services and better amenities will charge more than those with fewer programs.
Like with everything, you get what you pay for when choosing a retirement community.
Level of Care
However, senior housing costs also differ from resident to resident within one well-appointed community.
Some families pay about $4,150 for life at Addington Place of Lee's Summit. Others pay up to $6,000. There are several reasons for this, the primary one being the level of care that each individual resident needs.
Everyone in assisted living requires some help with day-to-day tasks. Residents may require caregiver assistance with:
- Dressing and changing clothes
- Showering and bathing
- Using the restroom
- Brushing teeth
- Combing hair
- Shaving
- Managing medication
- Standing up and sitting down
- Getting into and out of bed
- Navigating both the apartment and other community amenities
Each resident will get a personalized care plan tailor-made for their specific needs. Families sit down with compassionate caregivers to discuss the new resident's needs. The amount of assistance outlined in this adaptable plan will change senior housing costs.
Some residents in our tight-knit community will require specialized memory care services. Those who choose this senior living option will get the same help as those in standard assisted living. However, they'll also unlock:
- Activities purposefully designed to improve cognitive function (like puzzles and games)
- Sensory-heavy activities that stimulate multiple areas of the brain
- Reminiscence therapy
- Specialized assistance from those trained and certified to work with residents struggling with dementia and Alzheimer's
Because of these additional services, memory care is usually about 20% to 30% more expensive than other assisted living options.
Floor Plan
Addington Place of Lee's Summit offers multiple floor plans new residents can choose from.
Studio apartments are resort-style suites. They're largely made up of one spacious and open room that contains a bed and a kitchenette. The living space sits alongside these important features, so seniors have a private area to relax.
The bathroom is an independent private room annexed to the studio.
One-bedroom apartments have the same privacy and open floor plans as studios do. However, there are multiple distinct rooms, including:
- A bedroom
- A bathroom
- A living room/lounge
- A kitchen/dining room
This usually gives them more square footage.
Assisted living expenses drastically change depending on the specific apartment you choose. One-bedroom apartments are usually more expensive than studios. However, this is highly variable based on:
- Amenities like walk-in closets and showers
- Furnishings that come with the apartment
- The exact square footage of the room
Ask to see our apartments when you schedule a tour. This will give you a better idea of how much retirement community fees vary based on the floor plan.
Add-On Features
At the best Lee's Summit assisted living community, your base rent doesn't just cover room and board. Residents also get instant access to:
- Activity rooms
- TV lounges
- Housekeeping services
- Accessible, easy-to-navigate amenities
- Daily activities and events
These are 100% included in your monthly rental rate.
However, some additional services can increase costs slightly. They include:
- Hair salon services
- Guest accommodations
- Certain community outings (though not all)
Talk to your loved one and see if they want to take advantage of these services. Discover their additional costs and determine whether they're worth it. Usually, they are.
Programs to Enhance Elder Care Affordability
Many people use personal sources of funds to pay for assisted living. Common ones include:
- Money from pre-transition property sales (including home and car sales)
- Funds in savings and checking accounts
- Pension plans
- Social security income
However, the strain of assisted living expenses may still feel too great even after you dip into these funds.
Loans are one of the best ways to make assisted living expenses more manageable.
Many reputable credit and banking institutions offer Americans specialized assisted living loans. These are designed to give families the funds needed to pay for their loved one's stay in a community.
Of course, since this is a loan, you'll eventually need to pay it back. The exact payment plan will depend on your credit scores and loan history. Those with higher credit may be able to pay the loan back in smaller sums with a lower interest rate.
If you don't qualify for a loan or think the financial burden will be too stressful, don't worry! There is special long-term insurance made to decrease assisted living bills.
In exchange for a monthly premium, these plans pay for a portion of your monthly retirement community fees.
Starting your insurance plan early is a key way to decrease overall costs. If you're still deciding when to make the transition to a retirement community, buying insurance now may mean a lower premium.
Even if you're not using the insurance yet, you'll retain this premium when you make the transition. This can save money in the long term.
Beyond Retirement Community Pricing
Now that you know the cost of assisted living in Missouri and the factors that influence it, it's time to get started.
Addington Place of Lee's Summit is excited to discuss fees and amenities with you. Our commitment to ensuring excellence extends beyond resident care and into communication as well.
Our person-first approach to care makes our community one of the warmest and most welcoming in the state. Contact us to schedule a tour and learn more about payment plans and options.