Memory Care Communities in Lakeville, Minnesota

At $6,454, Lakeville’s median monthly memory care fee is $819 higher than the state cost and $829 higher than the national rate. In fact, Lakeville is one of Minnesota's most expensive places for memory care, followed by Duluth, where monthly fees run $204 lower. At the opposite end of the scale, Mankato’s monthly rate of $3,919 is almost half the amount of the local area. Seniors in Rochester pay roughly 21% less, and St. Cloud's facilities are $1,329 cheaper than Lakeville's.

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 Lakeville, the monthly cost of residential memory care is roughly $6,454.

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 Minnesota page.

In Lakeville, nursing homes offer the costliest care option, providing 24-hour supervision and skilled nursing care. A semi-private room runs about $11,708 per month, $5,254 more than memory care. In-home and home health care are 8.9% costlier than memory care, offering nonmedical personal care and intermittent nursing services on a visiting basis, respectively. Assisted living covers help with daily activities in a residential setting and attracts a fee that’s 22.2% lower than memory care. The most cost-effective care option is adult day health care, which offers support services and social engagement outside of the home and is about one-third of the price of memory care.

The Assisted Living Licensure, part of the Health Regulation Division of the Minnesota Department of Health, oversees memory care neighborhoods across Minnesota. It licenses facilities, enforces regulatory measures and educates providers about relevant rules and laws.

 

• Crime rates in Lakeville are significantly lower than the nationwide averages. When it comes to property crime, Lakeville’s average of 21.2 is 14.2 points lower than the national figure. Similarly, the local violent crime rate of 8.6 is 14.1 points lower than the U.S. average.

 

• The monthly cost of living in Lakeville for a single older adult is around $2,771 if they rent their home, $3,340 if they have a mortgage and $2,300 if they own their property outright. Seniors in each category pay about $320 monthly for food, $266 for transportation, $686 for health care and at least $675 for housing-related costs. Monthly memory care fees include meals, transportation and 24/7 supervision from trained caregivers, and seniors may qualify for financial assistance via the Elderly Waiver or Community Access for Disability Inclusion Waiver.    

 

• In Lakeville and elsewhere throughout Dakota County, primary care doctors see an average of 1,554 patients monthly. This is higher than the corresponding state ratio of 1:1,102. Over 97% of the local population has health care coverage, such as Medicaid, Medicare and VA plans, compared with 95.4% of people statewide.

 

• Lakeville has several general medical facilities, including Allina Health Lakeville South Clinic and M Health Fairview Clinic – Lakeville. For 24/7 emergency care, M Health Fairview Ridges Hospital is 9 miles away. Additionally, most memory care communities feature nursing oversight.

 

• Minnesota is a member of AARP’s Age-Friendly Network, demonstrating the state’s assurance of becoming more livable for all, focusing on health and quality of life for senior citizens.

 

• In line with nearby areas, Lakeville sees warm, wet summers and cold, snowy winters. Yearly temperatures typically range from 7 degrees to 82 degrees Fahrenheit. Almost half the year is wet, with peak rainfall in June. Conversely, February is the driest month. Fortunately, memory care communities offer diverse indoor and outdoor activities year-round, accounting for weather variations.