Average Assisted Living Costs Across New Mexico
Assisted living facilities in New Mexico help residents maintain independence while still providing occasional support and care.
They offer a variety of long term care services for you or your loved one, but often come at a hefty price.
If you’re considering assisted living in New Mexico, it’s important to understand how you plan to pay for it. According to a 2021 survey by Genworth**, the median cost for one New Mexico resident to receive care at an assisted living facility equates to $53,960 for a full year.
Where you live in New Mexico can also make a difference in the price you pay for assisted living, since prices vary between different cities.
Generally, the cost of assisted living is the most expensive in Santa Fe, where the median price for a full year of accommodations is $69,765, or $5,814 every month.
The cost of these services decreases for Farmington, which in terms of urban areas, has the lowest annual median price for assisted living services in New Mexico. In Farmington, the cost for a full year of assisted living is roughly $47,982, or $3,999 every month.
For residents living in smaller suburbs or the more rural areas of New Mexico, the median cost of assisted living is $48,000 annually, 11% below the overall state median.
Can’t afford to pay out of pocket for assisted living in New Mexico?
Don’t worry, you’re not alone.
New Mexico assisted living providers work with long term care insurance companies to help pay for your long term care needs, if you have a policy.
The key is to start planning early, so you have time to qualify for the best possible rates. And that’s where the insurance brokers at Policy Solver are here to help.
We partner with the best carriers and agents in New Mexico, to ensure you get the right coverage, at the right price.
Schedule a free consultation today to begin browsing your options. Our brokers are waiting to answer your questions and help you find the best assisted living coverage in New Mexico at the lowest price, guaranteed.
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