Memory Care Communities in Peabody, MA

Memory care in Peabody is priced at $8,524 per month, which is several hundred dollars higher than the Massachusetts average of $8,125 and 52% higher than the national norm. Most communities in Massachusetts offer more affordable dementia care, including Worcester, where rates come in at $7,106 per month, and Springfield, where care costs are 26% lower than in Peabody. Additionally, in Pittsfield, care costs are even more competitive at $2,605 per month. However, in Barnstable Town, memory care services cost about $225 more per month than in Peabody.

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 Peabody, memory care facilities charge approximately $8,524 per month for care.

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 Massachusetts page.

Memory care is one of the most expensive senior care options in Peabody, with seniors paying $8,524 per month for services. Although this is about 35% less than the cost of nursing home care, it’s 25% higher than what seniors without memory impairments pay for assisted living. Those who receive care in their own homes pay $6,292 for non medical in-home care and $6,244 for home health care, and adult day health care costs 76% less than the cost of residential dementia care, making it the most economical senior care option in Peabody.

The Massachusetts Executive Office of Elder Affairs oversees all memory care facilities in Peabody and the rest of the state and enforces compliance with rules related to housing, nutrition services and care planning. Along with following standard assisted living rules, memory care facilities have to follow rules for increased staffing, staff training and facility requirements.

• Seniors in Peabody don’t pay state income taxes on their Social Security benefits or public pension income. However, private pension income and distributions from retirement savings accounts are taxed at the state rate of 5%, which seniors and families may want to keep in mind as they’re comparing pricing in local memory care facilities.
• Peabody is a member of the AARP Age-Friendly Network, which may benefit those considering memory care in this city. This distinction means that the city’s leaders have focused on fostering a safe, welcoming environment for older residents, including those with memory-related conditions. The organization gives Peabody a livability score of 56 for metrics such as hospital patient satisfaction and air quality.
• The American Lung Association gives Essex County, a B for ozone and 24-hour particle pollution. The county has a passing grade for annual particle pollution, but the concentration of environmental irritants has been decreasing for two decades. This may make memory care in Peabody a favorable option for seniors sensitive to pollution.
• On a 100-point index based on living costs nationwide, Peabody scores 130.9. While this is 31% higher than the national norm, it’s in line with the Massachusetts score of 127.5, indicating that the city’s cost of living is comparable to the rest of the state. Memory care pricing may reflect this, which may be a consideration for those with limited resources.
• Peabody offers a supportive environment for seniors and families impacted by dementia through resources such as the monthly memory café. It meets at the Peabody Senior Center from 1:00 p.m. to 3:30 p.m. on the third Thursday of every month. The café is free to attend but an RSVP is preferred, which individuals can provide by calling the senior center at (978) 531-2254.
• Peabody has a relatively low crime rate compared to the nation as a whole, which may appeal to those considering memory care in the Boston region. On a 100-point index, the city scores 16.4 for violent crime and 23 for property crime, which is lower than the respective national norms of 22.7 and 35.4.