Assisted Living in Princeton
Caley House Assisted Living104 South 8th Avenue, Princeton, MN
Sterling Pointe Senior Community1250 Northland Drive, Princeton, MN
At A Glance
There are 2 assisted living communities in the city and surrounding suburbs to choose from. The average cost of assisted living in Princeton is $2,750 per month, according to the latest estimates from Genworth.
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- See more than 3 reviews of assisted living communities in the Princeton area from residents and their loved ones.
- Browse our comprehensive directory of 2 assisted living communities in the Princeton area for photos and information about amenities, costs and more.
What to Consider About Assisted Living in Princeton
Princeton is a small city located on Rum River and home to just 4,700 people in the 2010 Census, around 20 percent of whom were aged 65 and over. This has allowed the city to keep its small-town atmosphere, and seniors can get involved in a number of events throughout the year, including the Rum River Festival, Chili Fest and Winter Gala.
People wishing to retire to the area will find two assisted living facilities in the city and a further eight in nearby communities including Cambridge, Milaca and Elk River. These facilities are licensed and monitored by Minnesota's Home Care and Assisted Living Program.
Benefits and Drawbacks of Assisted Living in Princeton
- The overall cost of living in Princeton is rated 106 on Sperling's index, six points higher than the national average. Despite this, seniors can save money on groceries, which are seven points lower than the national average, and health care, which is 13 points lower.
- Winters in Princeton can be extremely cold. January's average low temperature is just two degrees, and the city gets 43 inches of snow each year, 17 inches more than the U.S. average. This may make it difficult for seniors to get around during the winter months.
- The Princeton area is home to world-class medical facilities, including Fairview Northland Medical Center, in the event of medical emergencies or illness.
- Public transport in Princeton is provided six days a week by Timber Trails Public Transit. Riders must schedule trips at least one day in advance, and there are regularly scheduled routes that allow people to do their shopping or catch connections to towns further away.
- Princeton has an overall crime rate of 39 crimes per 1,000 residents, which is higher than 94 percent of Minnesota's other towns and cities. Although the violent crime rate is lower than the state average, property crime occurs at a rate of 37.39 per 1,000 residents, compared to the Minnesota average of 21.33. Seniors may wish to take steps to secure their belongings in the area.
- Minnesota taxes all forms of retirement income, including Social Security, retirement funds and pensions. In addition, sales taxes in the state are relatively high, which may impact seniors who have a fixed income.
Paying for Assisted Living in Princeton
Average Monthly Costs
Cities in Minnesota
Assisted Living costs in Princeton start around $0 per month on average, while the nationwide average cost of assisted living is $4,000 per month, according to the latest figures from Genworth’s Cost of Care Survey.
It’s important to note that assisted living rates in Princeton and the surrounding suburbs can vary widely based on factors such as location, the level of care needed, apartment size and the types of amenities offered at each community.
Financial Assistance for Assisted Living in Princeton
Seniors in Princeton who receive Social Security income may be eligible for the Optional State Supplement (OSS). Financial assistance for residents of assisted living facilities may also be available through the Elderly Waiver.
Learn more about these programs, plus who’s eligible, on our Assisted Living in Minnesota page.
More Ways to Pay for Assisted Living
While many families use their own funds or personal assets to pay for assisted living, there are plenty of additional options to cover these costs. Some additional ways to finance assisted living costs include:
- Veterans Benefits
- Life Insurance Policy
- Long-Term Care Insurance
- Reverse Mortgage
For more information about different ways to finance assisted living, visit our Assisted Living in Minnesota page.
Free Assisted Living Resources in Princeton
Princeton and the surrounding area are home to numerous government agencies and non-profit organizations offering help for seniors searching for or currently residing in an assisted living community. These organizations can also provide assistance in a number of other eldercare services such as geriatric care management, elder law advice, estate planning, finding home care and health and wellness programs.
Assisted Living Laws and Regulations in Princeton
Princeton-area assisted living communities must adhere to the comprehensive set of state laws and regulations that all assisted living communities in Minnesota are required to follow. Visit our Assisted Living in Minnesota page for more information about these laws.