Assisted Living Communities in Cold Spring, Minnesota

Assisted Living costs in Cold Spring 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 Cold Spring 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.

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.

Cold Spring has been dubbed "the best-kept secret in Minnesota” and was given its name in 1852 in reference to the numerous natural springs found throughout the region. It is home to over 4,000 people, over 20% of whom are aged 65 and over.    

In Cold Spring, assisted living is not recognized as a distinct type of facility by the state. Instead, facilities are registered with the Minnesota Department of Health as housing with services establishments, and they are categorized as either Basic or Comprehensive home care providers. There are two assisted living facilities in Cold Spring and three more in the surrounding region.   

• Cold Spring seniors pay state income tax on all of their retirement income, including Social Security benefits and government pensions. Minnesota’s sales tax is also among the highest in the nation. This may affect how much money can be put toward assisted living expenses. 
  
• Seniors who have respiratory or cardiovascular conditions can breathe easy in Cold Spring, which is located in a region that has very low levels of ozone and particle pollution according to the American Lung Association.  
  
• The Cold Spring area has few facilities from which to choose in the event of a medical emergency or illness, with the nearest major hospital located in Albany. 
  
• While overall living expenses in Cold Spring are about 2% higher than the national average, they are about 4% lower than the statewide average, which may benefit seniors with restrictive assisted living budgets. 
  
• Seniors seeking out a safe community for their retirement years may want to consider Cold Spring, where the violent crime rate is roughly 14 points lower than the national average and the property crime rate is 22 points lower than the national average of a 100-point crime index.  
  
• Summers in Cold Spring are typical of those in the state as a whole, with July highs averaging 82 degrees and four comfortable months with temperatures ranging between 70-85 degrees. Winters are very cold with lows around 3 degrees, which may be a consideration for seniors who are sensitive to cold weather. 

Note: Data reported on this page was updated in 2019 and based on the latest 2018 figures.