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Redfin Names the 10 Best Cities for Technology-Assisted Living
[August 11, 2015]

Redfin Names the 10 Best Cities for Technology-Assisted Living


Today Redfin (www.redfin.com), the next-generation real estate brokerage, released a list of the 10 best cities for technology-assisted living, which are places where it's feasible to use technology-based services like Carelinx and Instacart to age in place, rather than moving to an assisted living facility.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20150811005801/en/

"People often think of services like Uber and Instacart as being something that only millennials use, but those services can be a way for elderly people who need assistance to remain in their homes," said Redfin chief economist Nela Richardson (News - Alert). "And when you compare the cost of a mortgage with the cost of assisted living facilities, in some cases it can make more financial sense to use those services and age in place, rather than move to a facility, depending on the level of care required of course."

To come up with the list, Redfin first identified which U.S. cities are served by Uber, Rover, Porch, Instacart and Carelinx, which all provide services that are similar to what an assisted living facility would provide, including transportation, pet care, housekeeping, meals and basic medical care. Then, Redfin calculated what the median monthly mortgage payment would be in those cities, and compared it to the average monthly fee for assisted living facilities in those cities (using data from Metlife).

The cities that made the top 10 list are places where seniors (or those who care for them) would have at least $1,500 each month to spend on the cost of services booked through Uber, Rover, Porch, Instacart and Carelinx, and, after paying the mortgage, it'd still be less expensive than an assisted living facility in the area. For example, in Washington D.C., the number one city on thelist, a resident could spend $3,000 on care services and $2,787 on their mortgage, and still spend less than the $5,933 it would take to live in an assisted living facility.



The following cities made top 10 list:

  1. Washington, District of Columbia
  2. Philadelphia, Pennsylvania
  3. Chicago, Illinois
  4. Austin, Texas
  5. Houston, Texas
  6. Boston, Massachusetts
  7. Miami, Florida
  8. Denver, Colorado
  9. Atlanta, Georgia
  10. Portland, Oregon

To read the full report, which includes data on the median mortgage payments and assisted living costs in each city, visit: https://www.redfin.com/blog/2015/08/the-10-best-cities-for-technology-assisted-living.html


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About Redfin

Redfin (www.redfin.com) is a next-generation real estate brokerage that represents people buying and selling homes. Founded by technologists, Redfin employs a team of experienced, full-service real estate agents who are advocates, not salespeople, earning customer-satisfaction bonuses, not just commissions. Redfin.com features all the broker-listed homes for sale, as well as for-sale-by-owner properties that don't pay brokers a commission. Redfin also offers online tools, built by its own software engineers, that make the entire process of buying or selling a home easier and more fun. The company serves major markets across the U.S. and has closed nearly $20 billion in home sales. In 2012, Redfin was named one of The DIGITAL 100: World's Most Valuable Private Tech Companies by Business Insider.


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