Close up image of a caretaker helping older woman walk

The estimated market value of unpaid care to family and friends last year was $375 billion, according to AARP.

The estimate was derived from five nationally representative surveys. It was based on the assumption that roughly 52 million adults will provide unpaid care at some point during the year. Assigning those 52 million caregivers an estimated 21 hours per week and then paying them a hypothetical $10.10 per hour helped AARP arrive at the $375 billion price tag. That number is up 7% from an estimated $350 billion in 2006.

Not included in the estimate are so-called “opportunity costs,” according to Elinor Ginzler, AARP’s senior vice president for livable communities. Opportunity costs include paychecks lost to the caregivers due to time spent away from work. An estimated 37% of family caregivers reduce work hours or quit jobs to take care of loved ones, Ginzler said.