Long-Term Care Affordability Sharply Worsening for Middle-Income New Yorkers, New AARP Report Shows

Home care and assisted living costs have surged nearly 50% nationally since 2019, wiping out a decade of progress in long-term care affordability.

Mar. 14, 2026 at 1:46am

Got story updates? Submit your updates here. ›

A new report from AARP finds that home care and assisted living costs have surged nearly 50% nationally since 2019, making long-term care increasingly unaffordable for middle-income older adults in New York. The median annual income for adults 65+ in New York was $59,909 in 2024, but the cost of long-term care varied widely, from $186,698 for a nursing home private room to $53,040 for a home health aide. AARP is calling for an additional $173.5 million in state funding to fully fund aging services and help older New Yorkers remain independent.

Why it matters

As long-term care costs rise faster than older adults' incomes, many families in New York must deplete their savings, rely on unpaid family caregivers, or go without needed care. This highlights the growing affordability crisis for middle-income older adults in the state and the need for policy solutions to address the problem.

The details

The report found that from 2019 to 2024, the annual median cost of home care services increased by close to 50%, while the median household income for someone age 65 or older grew by less than half that amount. In 2024, the median household income for someone age 65 or older in New York was about $60,000, while the annual median cost of home care services exceeded $50,000. Additionally, the median household age 75 and older has about $50,000 in financial assets, enough to cover roughly one year of home care or only a few months of nursing home care.

  • In 2024, the median annual income for adults 65+ in New York was $59,909.
  • From 2019 to 2024, the annual median cost of home care services increased by close to 50%.

The players

AARP

A nonprofit, nonpartisan organization that empowers people to choose how they live as they age.

Beth Finkel

State Director of New York for AARP.

Got photos? Submit your photos here. ›

What they’re saying

“Home care and other long-term care services have quickly become increasingly unaffordable in recent years. As costs rise faster than older adults' household incomes, many families must deplete savings, rely on unpaid family caregivers, or go without needed care. A clear and cost-effective solution is to invest an additional $173.5 million to fully fund aging services this budget season. These programs save families money, reduce pressure on the longterm care system, and help older New Yorkers remain independent. It's time to treat them as the essential services they are.”

— Beth Finkel, State Director of New York, AARP

The takeaway

This report highlights the growing affordability crisis for middle-income older adults in New York when it comes to long-term care. As costs continue to rise faster than incomes, many families are being forced to make difficult choices about care, underscoring the urgent need for policy solutions to address this issue and ensure older New Yorkers can access the services they need to remain independent.