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How Far Does Your Money Go in Lakewood?

By Alyssa Ball

When budgeting your golden years, it's important to know how much different living arrangements can cost. Finding a location and accommodation that fit your budget is not necessarily easy, but it is vital to ensuring that your money lasts as long as you are here to need the money. Knowing what you will be paying for retirement accommodations in your area will help you make the most of every single doll and stretch it to meet your needs the best.

Here's a brief overview of what your costs could be in Lakewood, Colorado. 

Cost of Living in Lakewood, CO

Lakewood is the largest municipality in Jefferson County with a population of about 142,000 residents. Lakewood was originated back in 1889 by Charles Welch and it was a 13-block area along Colfax Avenue west of Denver in Jefferson County. The town today has expanded to a much larger and thriving metropolis.

Lakewood tends to be more expensive than the average US city, especially when it comes to housing. That means seniors in this area have to pay even more attention to their budgets when planning for long-term care.

Assisted Living Costs

If you are looking for an assisted living accommodation in the Lakewood area you can expect to pay an average of about $2,850/month. Depending on what you are looking for far as accommodations and amenities as well as the location in which you wish to reside, you can expect to pay in the range of $2,080/month and $5,100/month.

Nursing Home Costs

If you are looking for a nursing facility you will be expecting to pay a lot more for the accommodations you will be receiving. If you are looking for a semi-private room you can expect to pay about $5,700/month or about $190/month. If you are looking for a private room you can expect to pay about $6,450/month or about $215.

Home Care Costs

If you are balking at the aforementioned prices and are looking for something that's a more affordable option then you might consider a caregiver. A caregiver can work with you in the comfort of your own home and you can stick to your own schedule while hiring them. Considering that the average caregiver in Lakewood charges about $19/hour you could hire a part-time caregiver for 20 hours a week for about $380/week or about $1,520, which is a fraction of what long-term nursing care would cost.

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.