Long-Term Care Costs Soar for Middle-Income New Yorkers

AARP report finds home care and assisted living prices up nearly 50% since 2019, outpacing income growth

Mar. 14, 2026 at 5:56am

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A new AARP report reveals that home care and assisted living costs in New York have surged nearly 50% nationally since 2019, far outpacing income growth for middle-income older adults. The median annual income for adults 65+ in New York was $59,909 in 2024, but the annual cost of long-term care services ranged from $53,040 for a home health aide to $186,698 for a private nursing home room, making affordability a major challenge.

Why it matters

The sharp rise in long-term care costs is wiping out a decade of progress in affordability, forcing many families to deplete savings, rely on unpaid caregivers, or go without needed care. AARP is calling for $173.5 million in additional funding for aging services in New York to help make home care and other long-term care options more accessible and cost-effective for middle-income older adults.

The details

The report found that in 2024, the median annual cost of a private nursing home room in New York was $186,698, a semi-private nursing home room was $176,660, assisted living was $75,600, and a home health aide was $53,040. These costs have grown nearly 50% nationally since 2019, while the median household income for someone 65+ in New York only grew by less than half that amount over the same period.

  • 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 percent.

The players

AARP

The nation's largest nonprofit, nonpartisan organization dedicated to empowering people 50 and older.

Beth Finkel

State Director of AARP New York.

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What they’re saying

“Home care and other long-term care services have quickly become increasingly unaffordable in recent years.”

— Beth Finkel, State Director of New York

“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.”

— Beth Finkel, State Director of New York

What’s next

The report calls for New York to invest an additional $173.5 million to fully fund aging services in the state's upcoming budget, which would help make home care and other long-term care options more affordable and accessible for middle-income older adults.

The takeaway

This report highlights the growing affordability crisis for middle-income New Yorkers needing long-term care, with costs for services like home health aides and assisted living rising much faster than incomes. Increased public investment in cost-effective home and community-based services is crucial to ensuring older adults can access the care they need without depleting their life savings.