The 10 Best Assisted Living Facilities in Lakeway, TX for 2024

Located just west of Austin, Lakeway offers a quiet retreat with access to big-city amenities, such as entertainment venues and medical facilities. This fast-growing city is home to 19,000 people, almost doubling its population between 2010 and 2020, and its senior community accounts for nearly a quarter of its residents. It’s a prime option for seniors seeking a safe community with a low crime rate, warm weather year-round and flexible long-term care services.

Lakeway also has several assisted living facilities, letting seniors remain in the community while enjoying maintenance-free living. These facilities feature experienced caregivers who administer individualized care plans, and they offer comfortable housing, daily meals and a range of social and recreational opportunities. Many facilities feature amenities such as walking paths, fitness centers and arts and crafts studios, and some let residents keep pets. Seniors in Lakeway pay $5,345 monthly for this type of care, which is well above respective state and national norms of $3,998 and $4,500.  

This guide highlights the benefits and drawbacks of obtaining assisted living in Lakeway and lists agencies that can help seniors navigate their long-term care options. It also lists some of the rules assisted living facilities follow.

Assisted living facilities in Lakeway comply with rules and minimum guidelines set by the Texas Health and Human Services. This department licenses two types of facilities to meet the needs of seniors who don’t require nighttime and evacuation assistance, as well as those who need more hands-on care. It also fields and investigates complaints of substandard care or conditions.

• Lakeway is among the most expensive places to live in Texas, with an overall cost of living that’s 54% over national norms and about 60 percentage points higher than the Texas norm. Transportation and housing costs are particularly high here compared to state and national norms, but choosing assisted living may enable older adults to have more control over monthly expenses.
• Crime is relatively uncommon in Lakeway, making it a prime option for active seniors. On a 100-point crime index, the city’s violent crime score is 9.5 and the property crime score is 20.0, compared to respective national ratings of 22.7 and 35.4. The per capita crime rate is low compared to similarly sized cities, such as Elgin and Buda.
• The weather is warm year-round in Lakeway and may appeal to seniors who enjoy spending time outdoors. Summers are hot with daytime highs in the mid-90s, but the other seasons are mild with highs ranging from 61 to 81 degrees. To help residents stay cool, many assisted living facilities have amenities such as individual climate controls and swimming pools.
• Baylor Scott & White Medical Center – Lakeway is located in Lakeway proper, promoting access to diverse inpatient and outpatient medical services. On average, medical costs, such as hospital stays and dental care, run about 8% below national norms, which can make care accessible to those with limited resources.
• Texas doesn’t have a state income tax, so seniors only pay federal taxes on their pension income, Social Security benefits and withdrawals from retirement accounts. This can help older adults maintain a comfortable standard of living throughout retirement.  
• Despite Lakeway’s proximity to major cities, its air quality is good and may support the health and comfort of seniors with cardiovascular or respiratory conditions. The American Lung Association gives the region B grades for ozone pollution, also called smog, and 24-hour particle pollution. It also has a passing score for annual particle pollution.

 

In Lakeway, seniors pay $5,345 per month for assisted living.

Assisted living facilities in Lakeway charge monthly rates of $5,345, which is well above the state norm of $3,998 and the national average of $4,500. Opting for care in one of the city’s neighboring communities may provide significant monthly savings, with seniors in Killeen paying $4,217 for care and residents in College Station paying $3,998. In San Antonio, care costs are about $1,900 less than in Lakeway, and in Waco, rates are roughly half the cost of care in Lakeway at $2,800.

Seniors in Lakeway pay $5,345 per month for assisted living, which is about $600 less than the cost of nursing home placement. While seniors may spend less on in-home care and home health care, which average $5,196 monthly, these options don’t include living expenses and entertainment. Adult day health care is the most affordable long-term care solution in Lakeway at $1,517 per month.

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 Texas page.