(336) 701-1700 ext. 103 Theresa@ForsythFutures.org

Living Costs

Living costs examines financial allocations to determine financial priorities of aging adults and identify areas where people may need additional services or support.

Indicators:

Income Shortfalls

13% of adults aged 60 and older reported that they do not have enough money to live a comfortable lifestyle. When we look at the data by age, we see a significantly higher percentage of adults aged 60-64 that do not have enough money to live a comfortable lifestyle compared to other age groups. When we look at the data by race and income, we see significantly higher percentages of African Americans and the low-income population not having enough money to live comfortably when compared to the White population and other income groups, respectively.

When we look at the data by race, we see significant differences across most income shortfall areas, with African Americans experiencing more financial challenges compared to the White population. When we look at the data by income, we see a significantly higher percentage of the middle-income population not having enough money to fill prescriptions compared to other income groups.

What do you think we as a county can do to help decrease the financial burden of the aging population?

  • provide more education/financial planning
    • assist with budgeting
  • increase awareness of financial services
  • encourage or arrange for more discounts for seniors
    • grocery stores
    • entertainment
    • gym memberships
  • promote affordable senior housing
  • advocate for a livable wage
  • encourage businesses to hire at-risk groups (African Americans, females, adults 75+)

Poverty Status

DemographicPercent At or Under 200% Federal Poverty Line
Adults Aged 60+27%
African American41%
White23%

African American adults aged 60 and older are almost twice as likely to live in a household that is at or below 200% of the federal poverty line compared to White adults aged 60 or older.

House Prices

Median Value of Homes in Forsyth County

Median Monthly Housing Costs

Rent Cost

Rent Costs

Assisted Living Cost

Average Monthly Cost of Assisted Living

Average Monthly Cost of Semi-Private Nursing Home

Average Monthly Cost of Private Room Nursing Home

Adult Day Services Cost

Average Monthly Cost of Adult Day Care

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