Between now and 2050, the number of Americans 65 and older is projected to grow by nearly 50 percent to 82 million, according to U.S. Census Bureau data cited by the Population Reference Bureau. This trend will likely lead to higher demand for affordable nursing homes. The latest data from the Centers for Disease Control and Prevention shows that the U.S. has about 15,600 nursing homes with more than 1.7 million total licensed beds. As of 2022, the country’s nursing homes served about 1.16 million older adults. New research provided by Tribeca Lawsuit Loans found wide differences between the states in terms of how long you can afford to stay in a nursing home. “Our research highlights the stark financial reality of nursing home care across the U.S.,” said Rory Donadio, business owner at Tribeca. “While retirees in states like Oklahoma and Louisiana can stretch their savings for over five years, those in high-cost states like Alaska may see their funds depleted in just over a year. With Social Security falling short, strategic financial planning is more crucial than ever.” This article discusses nursing home costs around the country and rates the states on the affordability of long-term care.

The report shows Mississippi among the top ten affordable states with the following criteria:

Mississippi

• Average Annual Private Care Cost: $87,768
• Years Covered for Private Room: 4.68 years

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