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How Far Does Your Money Go in McAllen?

By Michelle Cemental

Money is a subject that leaves a lot of seniors nervous. Being on a fixed income means that many seniors only have so much money, and that money only goes so far. This means that seniors must learn how to make their money stretch as far as possible to help them cover all of their expenses.

When coming to choosing long-term care or living arrangements, they must know the cost of what they are trying to purchase and how long their money will last. Here's a look at senior expenses in McAllen, TX.

Cost of Living in McAllen

McAllen is a city in southern Texas where both the International Museum of Art and of Science are located. The city is also home to other historic places including the McAllen Heritage Center and Fireman's Park to name a few. McAllen has a population of about 142,000 residents.

The cost of living in McAllen runs about 24% lower than the average US city, making this city a great place for seniors to settle down.

Assisted Living Costs

If a senior is looking for an assisted living arrangement they can expect to pay about $2,770/month for such an arrangement. However, prices range from $1,450/month to $4,550/month, depending on the amenities and services you are looking for when you are finding a place to live.

Nursing Home Costs

If you are looking to stay at a nursing facility, you can expect to pay quite a bit more for your living accommodations. The average semi-private room in a nursing facility runs about $3,75/month or about $125/day. If you want a private room you will be paying even more as the average nursing facility will cost about $5,100/month for that accommodation or about $170/day.

Home Care Costs

If these numbers stun you then you might consider a more affordable alternative: home care. A part-time caregiver will charge about $18/hour for their services. If you were to hire someone 20 hours per week, that would only run you about $360/week or $1,440/month. This is only a small fraction of the cost of staying in a nursing facility. Moreover, a caregiver can help you with the household chores and the various errands you need help with all from the comfort of your own home.

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.