As the aging population in Denver grows larger, the demand for specialized housing and care options for seniors has gone up. Many individuals, however, are confusing the terms senior housing and senior living. While they sound familiar, they imply completely different things. This makes it crucial to understand the answer to the question: what is the difference between senior housing and senior living?
For families to make informed decisions, it’s crucial for them to understand the distinction between these two options. With home care costs being 88% of median income and nursing home costs at 198%, it is important for seniors to explore their options in the state to understand which is optimally suited for them.
Colorado is ranked 14th in affordability and access to senior care by AARP and has a variety of choices available for aging adults.
What Is Senior Housing?
Senior housing involves independent, age-restriction options that are designed for adults who are older and do not require extensive personal assistance or daily medical services. These housing options involve the following:
- Independent living apartments. For active seniors who are looking for a maintenance-free lifestyle, independent living apartments may be optimal.
- Affordable senior housing. This includes housing that is government subsidized, such as HUD Section 202.
- Retirement communities. These neighborhoods are age-restricted, offering shared amenities like restaurants, fitness centers, social activities, and clubhouses.
What Is Senior Living?
Senior living is a more broad term that encompasses housing options that have different levels of day-to-day care and attention. Examples include:
- Assisted living. For seniors who need extra support with daily activities like managing medication, dressing, bathing, and cooking, assisted living may be a good option.
- Memory care. These are specialized facilities for individuals experiencing dementia or Alzheimer’s.
- Nursing homes. This option is for folks who require 24/7 medical care or rehabilitation services.
- Continuing care retirement communities. This retirement model may have a full spectrum of services, giving residents the ability to move from independent living to skilled nursing as required.
Factors That Influence the Cost of Senior Housing and Senior Living
Factors that influence the cost of senior housing and senior living include level of care, location, type of housing, government aid available, and whether long-term care insurance is available. Facilities located in urban areas tend to come with higher costs than those located less centrally or further from cutting-edge medical services.
As the required level of care and support increases, so does the cost. This means that a specialized nursing care facility can cause significantly more than a senior independent living arrangement. In the state of Colorado, there are 47 private long-term care insurance policies in effect per 1,000 people over 40, which indicates a moderate reliance on private funding.
How To Choose Between Senior Housing and Senior Living
If you are highly independent and healthy, senior housing may be an optimal, cost-effective option for you. If, on the other hand, you need extra help with daily activities or would like to live in an engaged community, senior living comes with varying levels of care and amenities to meet your needs.
For low-income seniors, affordable senior housing with state or federal rental subsidies could be a good option. With median nursing home costs at 198% of median household income, state and federal programs help cover expenses.
If your loved one is in need of specialized medical care, a nursing home facility or memory care facility is likely right for them. It’s important to speak directly with the senior housing or senior living option you are interested in to learn more about their specific services and amenities and determine whether it’s right for your situation.
FAQs
Q: What Is the Primary Difference Between Senior Housing and Senior Living?
A: The primary difference between senior housing and senior living is that senior housing is more independent and a better fit for older adults who don’t require assistance with day-to-day tasks, such as dressing, bathing, or cooking. On the other hand, senior living has care such as skilled nursing, memory care, and assistance with daily tasks. Senior living generally tends to cost more due to extra provisions and amenities.
Q: What Financial Assistance Is Available for Seniors Living in Colorado?
A: Financial assistance available for seniors living in Colorado includes state-run initiatives like the Medicaid buy-in program, long-term care insurance, and Medicaid programs. If you are unsure about whether you can afford the senior housing or senior living opportunity you want, it’s important to inquire directly with the facilities or organization to understand what your options are.
Q: Is Senior Housing Cheaper Than Senior Living?
A: Yes, generally, senior housing is more affordable than senior living because it does not come with extensive personal care services or medical provisions. It’s important to note, however, that senior living may come with more long-term benefits, as residents can enjoy a tight-knit community, top-of-the-line medical care, and engagement with daily activities that they love.
Q: How Do I Know if I Need Senior Living Instead of Senior Housing?
A: You will know if you need senior living instead of senior housing if you require further assistance with day-to-day activities, such as medication management, bathing, dressing, and cleaning. Senior living allows older adults to access the specialized care they need to thrive both physically and mentally, while senior housing promotes independence.
Q: Are There Waiting Lists for Affordable Senior Housing?
A: Yes, unfortunately, due to the growing aging population in Colorado and the increasing rent, affordable senior housing options are in high demand. This means that there are likely waitlists that could range from months to years. You are advised to reach out directly to the facility that you are interested in working with to understand your options for affordable senior living.
Contact Rocky Mountain Assisted Living to Understand Your Senior Living Opportunities
Unlike senior housing, senior living comes with key care services for older adults who need the right assistance and community. At Rocky Mountain Assisted Living, we offer cutting-edge amenities and healthcare services, in addition to personalized plans for your senior loved one to help them not just survive but thrive. Contact a compassionate member of our team today to discuss how we can assist your loved one with meeting their medical, social, and other needs.