I live in a Bend, Oregon retirement community operated by a privately-held, for-profit company. We recently received our letter informing us of the fee increase for calendar year 2024. Starting in 2024, our monthly fees (independent living) will be 80% higher than they were in 2020 when we moved in (causing havoc with the financial planning we did for retirement). The primary reasons given for the annual increases are generalized statements such as cost pressures, inflation, and wage increases. No other details are provided. Services provided for the increased fees have not expanded in a commensurate manner, and in fact have decreased in some areas.
Does an 80% increase over a five year period seem excessive to anyone else or is this in line with what is being experienced in other communities?