Memory Care Communities in Lake Placid, Florida

Memory Care costs in Lake Placid start around $0 per month on average, while the nationwide average cost of memory care is $5,743 per month.

It’s important to note that memory care rates in Lake Placid 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 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 Florida page.

In Florida, about 540,000 residents live with Alzheimer's disease, and that number is projected to grow by about 33 percent by 2025, according to the Alzheimer's Association. In Lake Placid, about 18 percent of the 2,223 residents are aged 65 or older. Some of these seniors may be living with Alzheimer's disease and may benefit from living in one of the city's two memory care facilities. 

The Florida Department of Elder Affairs oversees memory care facilities in Lake Placid and throughout the state. These facilities are a special type of memory care facility. Staff at these facilities must undergo training established by the University of South Florida's Training Academy on Aging, which ensures seniors enjoy high-quality care at memory care facilities in Lake Placid.

• Lake Placid's cost of living is lower than the national average, coming in at 90.9 on a scale where 100 represents the national average. Healthcare costs are higher than the national average at 109. Seniors' families may want to keep cost of living in mind when budgeting for memory care expenses.
  
• Florida's tax-friendly status for seniors can benefit Lake Placid retirees. The state does not tax social security income, which may result in some tax savings. Seniors' families may also consider these tax laws when budgeting for their loved one.
• Moderate year-round temperatures may be a welcome relief for seniors and their families tired of cold and snow. Lake Placid's winters don't see snow, and low temperatures reach just the upper 40s. Temperatures soar above 90 in the summers. Lake Placid sees more rain than average but more sunny days than average as well.
• Crime rates in Lake Placid are higher than the national average, with property crime rates a greater concern than violent crime. On a scale where one represents the safest city and 100 the most dangerous, Lake Placid's property crime rate is 66.8 and violent crime rate is 41.4. As a result, seniors' families may want to ask about security features in place at the area's memory care facilities.