Assisted Living Communities in Binghamton, New York

According to the 2024 Genworth Cost of Care Survey, assisted living residents in Binghamton pay around $7,826 monthly for services. This runs a couple hundred dollars below costs in nearby Albany, where the baseline fee runs near $8,093. However, it outpaces the state median of $5,850 and exceeds costs in most regional communities. For example, assisted living community members pay around $5,670 in Syracuse and about $5,333 in Rochester.

Data published in the 2020 Genworth Cost of Care Survey show that Binghamton’s seniors typically pay almost $300 per month more for assisted living than their peers in New York and $800 more than the average American.

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 New York page.

Assisted living fees in Binghamton rest near $7,826 per month. In contrast, seniors who access full time home health care services to help them manage basic medical needs pay considerably lower monthly rates of around $1,907. However, assisted living costs around half the cost of nursing home placement, which stands at approximately $14,387.

The New York State Department of Health monitors and licenses assisted living facilities in New York. It has the authority to conduct unannounced inspections to ensure licensed facilities continue to operate to the standards required and has the right to remove licenses from those that continually underperform.

• According to Sperling’s Best Places, Binghamton is one of the most affordable cities in New York. It has a cost of living index of 74.5, which is significantly below those of the state and the country, at 120.5 and 100, respectively. Of particular benefit to seniors is the health cost index of 99.5, which is also more favorable than the New York and U.S. indices.
• Binghamton’s climate can be challenging for some older residents. Annual snowfall is typically 36 inches more than the national average of 28 and rainfall is slightly above the norm too. In winter, the population wraps itself up against temperatures of around 13 degrees. However, in summer, it’s common to see the dial hovering at a pleasant 80 degrees.
• Binghamton’s crime statistics don’t make good reading. Records for violent and property crimes are very high when compared to the state and national averages. According to figures published by Neighborhood Scout, crime tends to be most common in the city center area just north of the Chenango River. The much larger outlying neighborhoods appear to be much safer, so there’s plenty of locations for seniors to consider. Additionally, assisted living facilities often have 24/7 security and staff permanently on-site.
• The city’s primary medical facilities are the well-regarded UHS Binghamton General Hospital and Lourdes Hospital. Both facilities, and others, are staffed by a significant number of medical professionals registered to treat Medicare beneficiaries, so seniors are assured of affordable high-quality health care wherever they are in Binghamton.
• Broome County provides several transportation options for seniors to help them attend medical appointments, go shopping and visit senior centers. They include fixed-route bus and door-to-door paratransit services at discounted rates for adults aged 65 and older who hold an Office for Aging ID Card, which can also be used to reduce payments for meals in senior centers.