Thanks to its mild, sunny climate, picturesque surroundings, and affordable cost of living, New Mexico has developed into a well-liked retirement destination. Currently, more than 380,000 older adults live in New Mexico and they make up about 18% of the population there. Experts estimate that by 2030, more than 30% of people will be above 60 years of age. There is easy access to top medical facilities like the Senior Health Center at the University of New Mexico School of Medicine and the cost of living is 18% lower than the national average. The cost of senior living in Corrales, NM, is also comparable to those across the nation.
Overall Cost of Senior Living in New Mexico
At an average of $4,498 per month, the cost of senior living in New Mexico is comparable to the national average. This is considered a midrange value, when compared to other states in the region, as per research from Genworth Financial’s 2021 Cost of Care Survey. Arizona ($4,000) and Texas ($3,998) seniors pay about $500 less each month, saving them about 11%. On the other hand, Colorado has average assisted living costs that are $250 more expensive at $4,750.
The cost of senior living varies in New Mexico depending on where you live, which retirement community you choose, and the level of personal care you require. Prices in Las Cruces are about the same as the state median at $4,495. In Farmington, the average monthly cost of care is $3,999, which is $500 less than the average monthly cost in New Mexico. The median rate for seniors in Santa Fe is the highest in the state at $5,814, 30% more than the state and national averages.
Senior Living in Corrales
Within a few miles of Albuquerque, in Sandoval County, is the village of Corrales, which has approximately 9,000 residents. Corrales has all the advantages and convenience of a big city with the vibes of a small town because of its close proximity to the nearby metro area. There are many things that make Corrales a great place to retire. The city has a lot of amenities and a sizable retiree population; about one-third of the population is over 65. Although the cost of living is higher than average, the city boasts significantly lower crime rates compared to the national average.
Cost of Senior Living in Corrales, NM
The average cost of senior living in Corrales, NM is $4,498 per month for residents that require lesser assistance. This is quite a good value when you compare it to home health aide and homemaker assistance which start from $4,605. In a retirement community, you have all the amenities you need. On top of accommodation, they provide nutritious meals, entertainment, social activities and programs, and health and wellness activities at one flat rate. Some communities like Morada Albuquerque even offer concierge, transportation, and weekly housekeeping services to relieve you of the hassles of life. The highest monthly rates for around-the-clock nursing in semi-private rooms or private rooms start from $7,604 onwards.
