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Genworth: Average Nursing Home Cost Rises 3.4%

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The average annual cost of a private room in a U.S. nursing home has increased to $77,745 this year, up 3.4% from the 2010 average.

Analysts at Genworth Financial Inc., Richmond, Va. (NYSE:GNW), have published those figures in a summary of results from a survey of 15,500 long term care providers in 437 regions throughout the United States.

Although the rate of increase is only about half the rate of increase in acute care costs, the rate of increase is up from 1.3% in 2010.

The cost of assisted living care has increased 2.4% this year, to $39,135, and the cost of in-home care has held steady at $18 per hour.