1. Rising Rent Prices in Senior Housing
Inflation contributes to higher property management costs, including maintenance, utilities, and insurance. As a result, landlords and senior housing providers adjust rental rates to cover these expenses. Key trends include:
- Increased rents in independent senior apartments due to higher operational costs.
- Higher entrance fees and monthly costs in continuing care communities as facilities struggle to manage rising expenses.
- Greater competition for affordable senior rentals, making it harder to secure low-cost housing.
2. The Effect on Utilities and Living Expenses
Beyond rent, inflation drives up the cost of essential services, including:
- Electricity, water, and gas bills, which have seen significant price hikes in many states.
- Property taxes, indirectly affecting seniors who rent from individual landlords.
- Home maintenance and repairs, which can impact those in rental agreements where tenants share responsibility.
https://flattory.com/articles/whats-the-impact-of-inflation-on-senior-housing-costs/
