Are you interested in establishing your own nursing home or assisted living facility? As part of your business strategy, you must account for all startup and running costs associated with opening and maintaining a nursing home. What is the cost of opening a nursing home? And on average, how much does it cost to operate the business? Is this business profitable? We’ve determined that it costs between $675,000 and $3,600,000 to build a 40-bed nursing facility, plus $278,000 to $293,000 each month in operational expenses.
What is the typical nursing home price in California?
California’s Long-Term Care Costs
| Type of Care | Monthly Median Cost in 2020 |
|---|---|
| Homemaker Services and/or Home Health Aide | $5,529 |
| Assisted Living Facility | $5,000 |
| Nursing Home: Semi-Private Room | $9, 247 |
| Nursing Home: Private Room | $11,437 |
Your loved one would have likely been required to register and pay for a policy prior to age 80. Does long-term care insurance cover assisted living in its entirety? It offers a greater number of benefits than the majority of policies, but the annual premiums are substantial.
How much does a long-term care facility in California typically cost?
California Long Term Care Costs – 2021 (annual) –| Region | Nursing Home (private room) | Nursing Home (semi-private) | Assisted Living (private room) | Home Health Aide (44 Hrs/wk) |
| California State Median | $146,000 | $117,530 | $63,000 | $73,216 |
| Bakersfield | $125,195 | $109,865 | $45,000 | $66,077 |
| Chico | $141,438 | $110,413 | $61,275 | $68,640 |
| El Centro | $106,215 | $106,215 | $73,800 | $41,184 |
| Fresno | $120,450 | $103,660 | $46,800 | $66,352 |
| Hanford Area | $122,275 | $114,975 | $52,200 | n/a |
| Los Angeles Area | $135,233 | $109,500 | $63,000 | $70,928 |
| Madera | $92,528 | $90,703 | $45,930 | n/a |
| Merced | $118,808 | $104,755 | $48,000 | $75,458 |
| Modesto | $138,700 | $125,560 | $48,000 | $69,212 |
| Napa | $167,900 | $127,750 | $75,600 | $77,220 |
| Oxnard | $145,270 | $135,050 | $69,000 | $72,644 |
| Redding | $166,685 | $129,210 | $53,400 | $80,080 |
| Riverside Area | $106,376 | $95,904 | $48,000 | $73,216 |
| Sacramento Area | $169,543 | $127,750 | $62,700 | $75,504 |
| Salinas | $146,000 | $116,800 | $72,000 | $80,080 |
| San Diego Area | $146,000 | $112,603 | $65,700 | $77,678 |
| San Francisco Area | $168,813 | $138,791 | $75,825 | $85,800 |
| San Jose Area | $187,063 | $142,350 | $72,000 | $85,228 |
| San Luis Obispo Area | $146,000 | $120,450 | $63,600 | $85,800 |
| Santa Cruz Area | $144,175 | $127,750 | $66,600 | $84,084 |
| Santa Maria Area | $187,975 | $128,845 | $63,600 | $80,080 |
| Santa Rosa | $149,650 | $135,598 | $84,570 | $82,940 |
| Stockton Area | $153,118 | $120,176 | $43,782 | $65,780 |
| Vallejo Area | $123,370 | $125,560 | $59,400 | $71,500 |
| Visalia Area | $107,675 | $102,200 | $41,400 | $64,064 |
| Yuba City | $182,500 | $127,750 | $55,890 | $70,745 |
Request quotes for California long term care insurance. We compare prices from the top California LTC insurance companies. Cost of Care Survey 2021, Genworth.com, seen on June 9, 2022.
