Memory Care Communities in Franklin, TN

Seniors in Franklin pay an average of $5,125 per month for memory care, a figure more or less on par with the state average of $5,131. This is markedly lower than the national average of $5,625. Cleveland, Chattanooga and Memphis residents pay more for memory care at $6,044, $5,275 and $5,250 respectively. Knoxville offers one of the lowest rates for memory care in the entire state at $4,779.

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.

On average, seniors in Franklin pay about $5,125 per month for memory care. This figure may vary depending on the facility’s location and services offered.

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 Tennessee page.

In Franklin, seniors pay a monthly rate of $5,125 for memory care, higher than several other care options in the area. Adult day health care is an affordable option at $1,842 per month. Assisted living in Franklin is significantly cheaper than memory care at $4,100 per month. Similarly, in-home and home health care are more affordable than memory care, with the monthly rate being $4,767 for both options. Nursing home care is available at a much higher rate of $7,270 for a semiprivate room.

The Tennessee Department of Health’s Division of Health Care Facilities oversees memory care facilities in Franklin, TN, and the rest of the state. It ensures that long-term care facilities are held to rigorous standards by conducting regular facility inspections. Moreover, it offers Tennessee residents the opportunity to report any violations, which are then thoroughly reviewed and investigated.

• The cost of living in Franklin is higher than the national average. Based on a 100-point index, with 100 being the national average, Franklin scores a cost of living index of 138.5. However, Tennessee is tax-friendly for seniors, with no state income tax and a low property tax rate.
• With a score of 99, Franklin’s health care costs are just below the national average. Additionally, with 433 physicians per 100,000 residents, Franklin significantly surpasses the national average of 210, making health care more readily available to seniors.
• Residents of Franklin have access to top-rated medical facilities, including the Williamson Medical Center. It offers a range of health care services for seniors, including orthopedics, emergency care and surgical services.
• Franklin has a very low crime rate. Based on a 100-point index, Franklin scores 11.9 for violent crime, with 22.7 being the national average.  The figure for property crime sits at 23.3, with 35.4 being the national average.
• Franklin enjoys a pleasant subtropical climate with hot summers and cool winters. The city experiences 211 sunny days per year and on average just 4 inches of snow annually.
• The Franklin Transit Authority offers significantly reduced fares for citizens aged 65 and older. Free rides on fixed routes are available for military veterans.
• Franklin is a member of the AARP Network of Age-Friendly Communities, an initiative that aims to help communities become more age-friendly through coordination with elected officials, partner organizations and local leaders. This demonstrates the city’s commitment to making the community more livable for seniors.