Memory Care Communities in Lakewood, CO

Memory care costs in Lakewood are higher than both the state and national averages of $5,937.50 and $5,625, respectively. Seniors seeking more affordable memory care can find it for an average of $1,375 less in Greeley or $1,875 less in Fort Collins. It’s also cheaper in Colorado Springs, costing an average of $5,828.75. Expenses are higher in Boulder, where memory care costs an average of $7,843.75, $968.75 more than in Lakewood.

Note: Residential memory care is usually offered in assisted living facilities, and in general, memory care rates tend to be 20-30% higher than assisted living rates. No national database currently tracks memory care costs in the United States, so we’ve estimated the monthly memory care costs listed below by adding 25% to the rates listed in Genworth’s 2021 Cost of Care Survey.

In Lakewood, the median monthly cost of memory care is $6,875, but the exact figure will vary among individual facilities.

While many families use their own funds or personal assets to pay for memory care, there are plenty of additional options to cover these costs. Some additional ways to finance memory care costs include:

• Veterans Benefits
• Life Insurance Policy
• Long-Term Care Insurance
• Reverse Mortgage

For more information about different ways to finance memory care, visit our Memory Care in Colorado page.

In Lakewood, adult day health care offers the lowest cost for care, averaging $2,275 per month. Seniors seeking in-home care can expect a monthly average of $6,769, $106 less than memory care, and those in need of home health care can receive services for an average of $6,864, $11 less than memory care. An assisted living facility averages $1,375 less than memory care. The most expensive option for care is a nursing home facility, averaging $8,669 monthly for a semiprivate room.

In Lakewood and the rest of the state, the Colorado Department of Public Health & Environment oversees memory care and other long-term care facilities. It certifies facilities and provides the regulations that must be followed. Seniors and their loved ones can also file complaints at this location and search for licensed memory care and other long-term care facilities.

• The climate in Lakewood is rated 7.3/10 by Best Places, indicating that the year-round climate is more comfortable than the Colorado average of 6.9. Winters can be cold and snowy, with average January lows at 18.3 degrees and nearly triple the national average snowfall, at 64.6 inches on average. However, residents can look forward to 247 sunny days per year, 32 more than the national average, and comfortable summer temperatures that rarely go above 88.
• Lakewood has an overall cost of living at nearly 30% more than the national average, influenced by high housing costs. However, residents can benefit from health care costs estimated at nearly 17% lower than the national average to offset it.
• As part of Jefferson County, Lakewood is a member of the AARP Network of Age-Friendly Communities. This illustrates the county’s dedication to catering to senior residents by working with elected officials, partner organizations and local leaders to make the area more senior-friendly. Jefferson County’s action plan includes an emphasis on age-friendly transportation, housing, respect and inclusion. 
• Lakewood is home to St. Anthony Hospital, a Level I Trauma Center and a Comprehensive Stroke Center, offering state-of-the-art infrastructure and experienced staff that make this location capable of treating even complex strokes. This hospital has been featured by U.S. News and World Report as a Best Regional Hospital, ranking #9 out of all hospitals across the state, and is rated as high performing in eight conditions.
• While Colorado has both an income tax of 4.4% and Lakewood’s total sales tax is 7.5%, the state offers a pension/annuity subtraction on Social Security benefits, pensions and annuities for people over the age of 55 at the end of the last tax year. Those under the age of 65% can subtract either $20,000 or the taxable pension/annuity income counted as federal taxable income, whichever is smaller. Seniors 65 and older can subtract either $24,000 or the taxable pension/annuity income.