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How Far Does Your Money Go in Boulder?

By Michelle Cemental

For seniors who receive Social Security or other retirement benefits, it's important to know how the cost of living in a particular location compares with the rest of the United States. In some cases, it may be worth considering a move if the current city has particularly high costs. Regardless, it's key to know the cost of certain expenses specific to your city.

Cost of Living in Boulder

Boulder, Colorado, is actually one of the most expensive cities within Colorado and even within the country. The median home price in Boulder is $711,800. In the rest of the state, the median home is priced at $359,300. In the rest of the country, the median home costs around $220,000. While the cost of living is significantly higher in Boulder, the assisted living and nursing home costs are surprisingly about equal to the rest of the nation. Here are some numbers that may be particularly helpful for seniors.

Assisted Living Costs

If your loved one can no longer live independently, but doesn't require the skilled-nursing care a nursing home offers, an assisted living facility might be an option. The facilities provide medical care and assist with daily activities but allow the residents to maintain some independence. The lower priced assisted runs about $1,550 a month. The high assisted living facility costs about $4,300 a month. The average cost of facilities across the city is $2,950 a month. 

Nursing Home Costs

A nursing home provides a high level of care. They are usually reserved for people who need someone to assist them with multiple daily activities and have medical needs. Stays in a nursing home may be short or long-term. In some cases, insurance will cover nursing homes but there are rigid requirements to meet. The average daily rate for a semi-private nursing home room is $190 a day or $69,330. The average private room in Boulder is $215 a day or $78,475.

Home Care Costs

In home-care provided by a private company costs about $20 to $22 an hour in Boulder. For patients who don't require medical intervention, this is a good alternative. Medicaid, VA plans may cover the costs, but they can also be paid privately. Caregivers provide care and assist with daily activities that would otherwise be forgone. They can check for safety hazards, assist with dressing, meal preparation, exercise, transportation, and more. They even act as companions and visit with seniors, if that's what is needed. 

For more information on home care near you, refer to our services. Our caregivers are more than happy to help you or a loved one get the care you need.