What is the Cost to Stay in Your Own Home?

"Exploring options: Staying at home often requires hidden costs beyond what families expect."

For many older adults, the idea of aging in place—staying in their own home for as long as possible—feels comfortable and familiar. But with that choice comes a price. The cost of staying at home has two parts:

1. Ongoing, recurring monthly expenses such as housing, utilities, food, and personal care.

2. One-time or occasional costs such as home modifications and specialized equipment to make the home safer and more accessible.

   
   

Recurring Monthly Costs

National averages show that the cost of aging at home adds up quickly, especially when support services are layered in. According to the 2023 Genworth Cost of Care Survey and other industry data, here are some typical monthly expenses:

• Housing/Utilities/Taxes/Maintenance: ~$1,200–$1,500/month for homeowners (varies by region).

• Food: ~$400–$600/month for a single older adult.

• In-Home Care (Homemaker or Home Health Aide): ~$5,148–$5,339/month for 44 hours/week of care.

• Adult Day Services: ~$1,690/month (average).

  
  

If an older adult eventually requires 24/7 in-home care, the cost can exceed $15,000–$20,000/month, far surpassing the average cost of assisted living.

Some costs may be offset by Medicare (short-term skilled care), Medicaid (long-term care waiver programs), or family caregiving support, but most private-duty home care remains an out-of-pocket expense.

One-Time Costs: Home Modifications

The reality is that most homes in the U.S. are not designed for aging. A 2021 Harvard Joint Center for Housing Studies report found that only about 10% of homes are aging-ready (single-level, step-free entry, wide hallways, accessible bathrooms).

That means most people will need to invest in modifications such as ramps, lifts, or bathroom remodels. Current national averages include:

• Grab Bars: $100–$200 per bar installed

• Stair Lift: $3,000–$12,000

• Ramp or Vertical Platform Lift: $2,500–$20,000

• Door Widening: $800–$1,500 per doorway

• Bathroom Modifications: $5,000–$35,000 depending on scope

• Whole-Home Renovations (average): $10,000–$20,000 for basic accessibility

While these costs may seem high, they can often be recovered in just over a year compared to assisted living fees that average $4,500–$6,000/month nationwide. However, those savings only hold if the individual’s care needs remain stable. If ongoing in-home care escalates, costs can quickly exceed the cost of assisted living.

The Bottom Line

Staying at home may be the right choice for some, but families must consider the true cost of care, safety, and quality of life. Aging in place often requires significant investment in modifications and increasing home care costs.

Assisted living, by comparison, bundles housing, meals, activities, safety, and daily care into a single monthly rate—often at a fraction of the cost of 24/7 in-home support.

At AgeWise Home, we specialize in helping families evaluate their options, plan for the future, and create safe, supportive home environments. Whether through grab bars, full bathroom renovations, or a complete home safety assessment, our goal is to help you or your loved one make informed decisions that balance independence with peace of mind.

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