The average rate for a private room in a nursing home is $192 a day, or about $70,000 a year, according
to a 2004 survey by Metropolitan Life Insurance Co. (The cost of a shared room averaged nearly $62,000
a year.) Those rates are 6 percent higher than they were in the 2003 survey.
At a 6 percent rate of increase, costs double in about 12 years. Thus, the average nursing home might
cost around $140,000 a year in 2016, and $280,000 per year in 2028.
And that
