Assisted living now costs a national median of $6,200 a month — $74,400 a year — up 5% from the year before, according to the CareScout Cost of Care Survey. For most families, that ongoing cost is exactly why the parent’s house stops being just a sentimental question and starts being a financial one too.
That doesn’t mean selling is the answer, or that it has to happen right away. It means the house is now part of a bigger financial picture that’s worth understanding clearly, rather than deciding under pressure or by default.
Why the Cost Matters to the House Decision
A $74,400-a-year cost adds up fast, and it rarely comes entirely out of savings or long-term care insurance alone. For many families, the home a parent leaves behind — often owned outright after decades — represents the single largest asset available to help cover that cost, whether through a sale, a home equity line, or rental income.
It’s Rarely One Person’s Decision
Adult children — sometimes several, sometimes spread across different states — often need to agree on what happens next, frequently while everyone is still adjusting emotionally to the parent’s move itself. A clear, neutral read on what the home is actually worth gives the family something concrete to decide around, instead of guesses or old assumptions.
There’s Usually More Time Than It Feels Like
In most cases, the house doesn’t need an immediate decision — it needs to be secured (insurance current, utilities handled, someone checking on it) while the family works through the bigger questions at whatever pace makes sense. The exception is when ongoing care costs are creating real financial pressure.
Quick Answers
How much does assisted living cost?
A national median of $6,200 a month, or about $74,400 a year, per the 2025 CareScout Cost of Care Survey — actual costs vary by community, location, and level of care needed.
Do we have to sell the house to afford assisted living?
Not automatically. Savings, long-term care insurance, and rental income from the home are all alternatives to a sale.
Who decides what happens to the house — one sibling, or all of them?
Legally, that depends on how the property is titled and any power of attorney in place. Practically, most families find it easier when everyone with a stake is part of the conversation early on.
What’s the difference between renting the house out and selling it?
Renting keeps the asset and can produce ongoing income; selling produces a lump sum but ends the family’s ownership. (Full breakdown: Should You Rent or Sell Your Parent’s Home After They Move to Assisted Living? →)
If Your Family Is Facing This Now
The Aging Parents guide walks through the full property picture, including a free Aging Parent Property Checklist.
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Source: CareScout Cost of Care Survey, 2025 edition (Genworth/CareScout), released March 2026. General guidance, not financial or legal advice.