Affordability

How Much Does Assisted Living Cost?

Most American House communities offer Friendship Suites, a shared-suite arrangement where two residents live in one double-occupancy suite, significantly lowering the cost for each person. Beyond the savings, a shared suite gives both residents a built-in source of companionship and emotional support.

Contact us for details on availability and pricing. 

Long-term care insurance (LTCI) is designed to help cover the cost of Assisted Living and other long-term care, typically for a monthly premium. Policies are customizable, so you can shape coverage around where and how you'd like to receive care. 

• Most insurers offer policies to people between ages 18–85. 

• You choose where you receive care, with coverage structured to your needs. 

• LTCI can preserve financial independence and reduce the need to borrow for care later. 

• Tip: If you don't already have LTCI and need care now, this option may not be practical as LTCI works best when purchased well before it's needed.  

A Living Benefit, or accelerated death benefit, lets you access a portion of your life insurance policy's death benefit while you're still living, to help pay for senior living costs. No out-of-pocket fees are required to apply. 

• It typically requires a policy with a death benefit of at least $100,000. 

• Your policy and your beneficiaries remain intact; you're accessing a portion of the benefit, not canceling the policy. 

• Some policyholders may also have the option to sell their policy outright for its cash value if they no longer need it. 

• Tip: Not every option is available on every policy, and it doesn't make sense for every situation. Be sure to talk to your insurance provider first. 

A home equity line of credit (HELOC) lets homeowners borrow against their home's equity and repay it over a set term, often at a lower interest rate than unsecured credit. For some families, a HELOC can be one option for helping pay for Assisted Living costs.   

• Terms are typically 5–15 years. 

• You borrow as needed, up to your credit limit, similar to a credit card. 

• You only pay interest on what you borrow, not your full credit line. 

• Tip: HELOCs require sufficient home equity and aren't the right fit for every homeowner. 

Federally supported low-income senior housing options are available through the U.S. Department of Housing and Urban Development (HUD). 

• Section 202 Supportive Housing for the Elderly serves very low-income seniors who need help with daily tasks, through capital advances HUD provides to nonprofit housing sponsors. 

• Public Housing, operated by local housing agencies, is available to low-income tenants who pay roughly 30% of income toward rent and utilities. 

• Note: These programs are sometimes mislabeled as "Assisted Living vouchers. They're actually HUD housing programs, not care-cost assistance. 

Veterans and surviving spouses who need help with daily activities, or who are housebound, may qualify for VA Aid & Attendance, an additional monthly payment on top of a standard VA pension. It can help cover the cost of everyday assistance like medication management, bathing and dressing. 

• A complete application typically takes 3–6 months to process; approved benefits are paid retroactively to your filing date. 

• Award amount depends on the applicant's income and actual monthly care costs.

• The VA doesn't distinguish assisted living from nursing home care in its definition— most assisted living residents who qualify medically and financially are eligible. 

• Also known as: "improved pension," "VA Assisted Living benefit" or "veterans elder care benefits” all refer to the same Aid & Attendance program. 

Yes, in many cases. Medicaid helps cover long-term care costs for eligible low-income seniors, though rules and coverage vary significantly by state and by community. Contact us to see if your nearest American House Community has Medicaid programs available. 

• Michigan: The MI Choice Waiver Program helps pay for Assisted Living, though the state may classify it as adult foster care or a home for the aged. The MI Coordinated Health (MICH) Program is another option for those dually eligible for Medicare and Medicaid. 

• Florida: Statewide Medicaid Managed Care Long-Term Care Program 

• New Hampshire: Through the Choices for Independence Medicaid program, though it's listed as "adult family care" among covered benefits. 

• Illinois: Supportive Living Program (SLP)  

• Missouri: MO Health Net  

• South Carolina: Healthy Connections  

• Tennessee: TennCARE CHOICES  

Bridge loans designed specifically for senior care can offer a line of credit with no upfront costs, giving families breathing room while other funds, like a home sale or insurance payout, come through. 

• Funds can cover rent and care costs short-term while you wait on other sources. 

• Loans can be shared across multiple co-borrowers. 

• Applications are typically fast, with same-day or next-day approval in many cases. 

The Low-Income Housing Tax Credit (LIHTC) program is available at select American House communities: 

• American House Milford

• American House Riverview

• American House Southland

• American House Troy

• American House Village at Bloomfield 

• Each community manages its own waitlist and qualifying standards. 

• Only a limited percentage of units in each building are LIHTC-designated. 

• The program reduces monthly rent and it does not pay costs directly. 

• Qualification is income-based and managed by the American House Compliance Department, with up to eight weeks to process. 

• Monitored by the Michigan State Housing Development Authority (MSHDA), with annual inspections and audits. 

• This is a rent-reduction program with specific eligibility requirements and not a general subsidy.