The cost of long term care varies greatly, depending on the type of care, the place provided, and the region where you receive your care.

For instance, the average hourly cost of home care ranges from $16 per hour in Montgomery, Alabama, to $23 per hour in Hartford, Connecticut. Nursing home care costs vary from $160 per day in Shreveport, Louisiana, to $466 in New York City for a semiprivate room.

Home care — which most people prefer — is generally more affordable than nursing home care, but still can be expensive. When averaged nationally, the cost of a six-hour visit by a home health aide is $126.3 That’s $32,760 per year for a home health aide visiting six hours per day, five days a week. These costs rise significantly if around-the-clock care is needed.

When family members provide informal care at home, costs are harder to estimate. The caregiver may have to leave his or her job. Or perhaps the price is paid in emotional stress. These costs don’t show up in economic statistics.