How Many CCRCs Exist in the US?

Discover the numbers! How many CCRCs exist in the US? Unveil the growth, regulation, costs, and demographics of these communities.

Understanding CCRCs in the US

Continuing Care Retirement Communities (CCRCs) have become an increasingly popular housing option for older adults in the United States. Let's explore the definition of CCRCs and the growth of these communities.

Definition of CCRCs

A CCRC, also known as a Life Plan Community, is a residential community that provides a continuum of care for older adults. These communities offer a range of living options, from independent living to assisted living and skilled nursing care. The goal of a CCRC is to provide residents with a seamless transition as their healthcare needs change, allowing them to age in place and receive the necessary services and care within the same community.

Growth of CCRCs

The number of CCRCs in the United States has been steadily increasing as the population ages. According to Newsweek, there are approximately 2,000 CCRCs in the U.S. This number is expected to continue to rise in the coming years.

In 2010, there were approximately 1,900 CCRCs across 48 states and the District of Columbia, with Alaska and Wyoming being the only states without any CCRCs [1]. The top ten states with the highest number of CCRCs are Pennsylvania, Ohio, California, Illinois, Florida, Texas, Kansas, Indiana, Iowa, and North Carolina.

As the demand for senior housing with integrated care services grows, so does the development of CCRCs. These communities offer a unique and comprehensive approach to senior living, providing residents with a sense of security, convenience, and access to a continuum of care.

To learn more about CCRCs and whether they are a good fit for you or your loved ones, check out our article on are continuing care retirement communities a good idea?.

Regulation of CCRCs

When considering Continuing Care Retirement Communities (CCRCs), it's important to understand the regulatory landscape surrounding these communities. CCRCs are regulated at the state level, with some states having specific regulations in place to oversee and monitor these communities. However, it's worth noting that not all states have regulatory structures for CCRCs.

State Regulations

As of July 2013, there are 38 states in the US that regulate CCRCs through various state divisions. These regulations aim to ensure the safety and well-being of residents and establish standards for operating CCRCs [2]. It's crucial to research the specific regulations in the state where you are considering residing to understand the level of oversight and protection provided.

However, it's important to mention that there are 12 states and the District of Columbia that currently have no regulatory structure in place for CCRCs [2]. For example, the state of Ohio, which has a significant number of retirement communities meeting the definition of CCRCs, does not provide regulatory oversight for these communities [2]. Therefore, it's crucial to thoroughly research the regulations and oversight in the specific state where you are considering a CCRC.

Oversight Organizations

While state regulations play a significant role in the oversight of CCRCs, there are also independent organizations that provide accreditation and evaluate the operations of these communities. One such organization is the non-profit accreditation commission, CARF-CCAC. CARF-CCAC analyzes and accredits the entire operation of a CCRC, including financial management and healthcare [2]. This accreditation provides an additional layer of assurance for residents and families.

It's important to note that while state regulations and oversight organizations aim to ensure the quality and safety of CCRCs, it's still essential for individuals to research and visit potential communities to assess their suitability and meet their specific needs. Understanding the regulations and oversight in place can help individuals make informed decisions when considering CCRCs as a housing option for their retirement years.

Next, let's explore the financial aspects of CCRCs by looking at the costs associated with these communities, including entrance fees and monthly expenses.

Costs Associated with CCRCs

When considering continuing care retirement communities (CCRCs) as a housing option for seniors, it's important to understand the associated costs. CCRCs typically require an entrance fee and monthly costs to cover the array of services and amenities provided. Let's explore these costs in more detail.

Entrance Fees

Entrance fees for CCRCs can vary significantly based on factors such as location, size of the living unit, and the level of care offered. According to Investopedia, entrance fees for CCRCs range from $100,000 to $2 million. These fees are typically used to cover services and amenities provided by the retirement community, including medical care.

In 2022, the average initial payment for entry fees in CCRCs was around $402,000, as reported by A Place for Mom. It's important to note that entry fees can vary greatly by age and circumstances, but they tend to be high due to the skilled nursing care services provided by CCRCs.

Monthly Costs

In addition to entrance fees, CCRCs typically require residents to pay monthly fees to cover ongoing services and amenities. The monthly costs can vary depending on factors such as the size and type of living unit, location, and the level of care required.

According to Investopedia, the median monthly cost of independent living in a retirement community was $3,100 in 2023, totaling just over $37,000 annually. However, it's important to note that these costs can vary significantly based on location and the specific offerings of the CCRC.

Based on A Place for Mom's 2024 internal cost data, the median cost of independent living in the U.S. is approximately $3,400 per month. This cost reflects the abundant amenities and the all-inclusive, maintenance-free lifestyle offered by independent living communities within CCRCs.

It's essential to carefully review the financial aspects of a CCRC, including entrance fees and monthly costs, to ensure that they align with your budget and long-term financial plan. Additionally, it's recommended to consult with a financial advisor or professional to fully understand the financial implications and explore any potential financial assistance programs that may be available.

In the next section, we will delve into the demographics of CCRC residents, including their average age and income, to provide a comprehensive understanding of the CCRC landscape.

Demographics of CCRC Residents

To understand the demographics of residents in Continuing Care Retirement Communities (CCRCs), it is important to consider factors such as average age, income, and net worth.

Average Age

The average age of CCRC residents has increased over time, reflecting the aging population. In the 1980s, the average age of CCRC residents was around 80, while in the 2010s, it rose to above 85 [1]. This trend indicates that CCRCs are increasingly catering to older individuals who are seeking a supportive living environment with access to various levels of care.

Income and Net Worth

The income and net worth of CCRC residents can vary significantly. In 2015, the average annual income of new CCRC residents ranged from approximately $20,000 to $264,000, with a median income of around $66,000. Similarly, the average net worth ranged from about $223,000 to $5,900,000, with a median net worth of approximately $1,120,000 [1]. These figures highlight the financial diversity among CCRC residents.

It's important to remember that the costs associated with CCRCs, such as entrance fees and monthly expenses, can vary based on location, amenities, and the level of care provided. The average initial payment for entry fees in CCRCs was approximately $402,000 in 2022, reflecting the comprehensive services and care options available within these communities [3]. Monthly costs can also vary, with the median cost of independent living in the U.S. being around $3,400 per month.

Understanding the demographics of CCRC residents provides insights into the population served by these communities. As the average age increases, CCRCs continue to adapt to meet the evolving needs of older adults. By offering a range of housing options, care continuum, and amenities, CCRCs aim to provide a supportive and engaging living environment for individuals in their retirement years.

Services and Amenities in CCRCs

Continuing Care Retirement Communities (CCRCs) offer a wide range of services and amenities designed to meet the varying needs of their residents. These communities aim to provide a comprehensive care continuum and diverse housing options to accommodate individuals as they age and their care needs change.

Care Continuum

One of the key advantages of CCRCs is the availability of a care continuum. This means that residents can transition seamlessly between different levels of care as their needs evolve. CCRCs typically offer three main levels of care: independent living, assisted living, and skilled nursing.

Independent Living: This level of care is designed for active and independent seniors who do not require assistance with daily activities. Independent living units within CCRCs provide individuals with the freedom to maintain their own lifestyles while benefiting from a sense of community and access to various amenities and services.
Assisted Living: For individuals who require some assistance with activities of daily living (ADLs), such as bathing, dressing, or medication management, assisted living services are available within CCRCs. Trained staff members are on hand to provide the necessary support, while still promoting independence and maintaining a high quality of life.
Skilled Nursing: CCRCs also offer skilled nursing care for residents who have more complex medical needs or require round-the-clock attention. Skilled nursing facilities within CCRCs provide comprehensive medical care, rehabilitation services, and assistance with daily activities. These services are particularly beneficial for individuals who need specialized care due to chronic illness, injury, or recovery from surgery.

The availability of a care continuum within CCRCs ensures that residents can receive the appropriate level of care without having to relocate to a different facility. This seamless transition between different care settings provides peace of mind for both residents and their families.

Housing Options

CCRCs typically offer a variety of housing options to suit different preferences and needs. These options can range from independent living apartments and cottages to assisted living suites and skilled nursing rooms.

Independent Living Apartments: These units are designed for individuals or couples who want to maintain an active and independent lifestyle. Independent living apartments within CCRCs often include amenities such as full kitchens, spacious living areas, and access to community facilities and services.
Cottages or Villas: Some CCRCs may offer freestanding cottages or villas as an alternative to traditional apartments. These detached residences provide a greater sense of privacy and often come with additional outdoor space.
Assisted Living Suites: Assisted living units within CCRCs are designed to meet the needs of residents who require some assistance with daily activities. These suites typically include a bedroom, bathroom, and a small living area, providing a comfortable and supportive environment.
Skilled Nursing Rooms: For residents who require more intensive care, CCRCs have skilled nursing rooms within their healthcare facilities. These rooms are equipped with medical equipment and furnishings that meet the specific needs of individuals receiving skilled nursing care.

The availability of different housing options allows residents to choose a living arrangement that suits their preferences and needs. Whether they prefer the independence of an apartment or the additional support of a suite, CCRCs strive to provide a comfortable and accommodating living environment.

As you explore CCRCs, consider your specific care needs, lifestyle preferences, and budget. It's important to tour different communities, ask questions, and gather all the necessary information to make an informed decision. The services and amenities offered within CCRCs can greatly enhance the quality of life and provide peace of mind for individuals and their families.

Location Variability of CCRCs

When considering Continuing Care Retirement Communities (CCRCs), it's important to recognize that there can be significant variability in the costs and availability of services across different locations. This section will explore two aspects of location variability: cost disparities and availability of services.

Cost Disparities

The cost of CCRCs can vary considerably depending on factors such as the location, size, and amenities offered by the community. Entrance fees for CCRCs, which cover services and amenities provided by the retirement community, can range from $100,000 to $2 million. Monthly costs can also vary significantly depending on the level of care and the specific services included in the package.

To provide a general idea of the cost, the national median cost of renting a senior apartment, which is typically the least expensive option within a CCRC, is approximately $1,400 per month. However, it's important to note that this varies based on the location and the amenities provided. For independent living within a CCRC, the median cost in the U.S. is approximately $3,400 per month [3]. These figures are subject to change and may differ based on the specific CCRC and location.

Availability of Services

The availability of services within CCRCs can also vary depending on the location. CCRCs typically offer a continuum of care, providing various levels of assistance as residents age. This can include independent living, assisted living, memory care, and skilled nursing care. However, the specific services and level of care offered may differ from one CCRC to another.

When considering a CCRC, it's important to thoroughly research the services and amenities provided by each community. Some CCRCs may have a comprehensive range of services, including rehabilitation services for seniors [5]. Others may have more limited offerings. By understanding the available services, you can make an informed decision about which CCRC best suits your needs or the needs of your loved ones.

It's worth noting that as the demand for CCRCs continues to grow, more communities are being developed across the country. This can create additional options and opportunities for individuals seeking a CCRC that aligns with their preferences and requirements.

While the specific number of CCRCs in the United States is not mentioned in the available information, it's important to research and consult with professionals in the field to gather up-to-date information regarding the number and availability of CCRCs in your desired location.

By considering the cost disparities and availability of services when exploring CCRCs, you can make an informed decision that aligns with your financial situation and care needs. It's advisable to consult with retirement community experts and visit multiple CCRCs to evaluate the options available to you or your loved ones.