Low Income Senior Housing

Fortunately there are low income senior housing options for older adults who have low incomes. Many federal, state/provincial and municipal governments have joined together with private businesses to provide housing solutions for seniors with limited incomes. These housing options are also called Affordable Housing or Subsidized Housing.

This article includes:

• Types
• Benefits
• Who is Eligible
• How do I Find Options?
• Costs

Types

Affordable housing for seniors are subsidized by federal/national and state/provincial governments. Housing assistance mainly consists of low rent apartments, housing vouchers and other subsidies. The main criteria to qualify is to meet the income level requirements. Seniors should assess their financial and life style needs before applying and accepting housing subsidies. Most assistance comes with some restrictions.

USA and Canada have guidelines that housing costs should not exceed 30% of the seniors gross household income. This includes rent, taxes, insurance and utilities.

There are a variety of different housing options available including:

• Independent Living/Senior Apartments
• Assisted Living
• Nursing Care

Benefits

Obviously the main benefit is rent that is affordable and related to your income. However, there are usually additional benefits to living in low income senior housing options, including:

• Utilities are often included. Usually the only housing related bills the senior has to pay other than the rent is -- Telephone, Internet and Cable TV. Rent often includes water, electricity, air conditioning and heat
• Seniors only so it is usually quiet. No young families running in the hall ways.
• Usually they are conveniently located close to public transportation, grocery stores, health care services, etc.
• They are typically in neighbourhoods that are senior friendly with sidewalks, etc.
• Most building have organized social activities
• There are often common rooms for cards, pool tables, exercise equipment, etc.

Who is Eligible?

The main criteria is age (55+, sometimes 65+) and household income. Although the rent is usually on a sliding scale, those with higher incomes cannot apply.

Credit checks are often performed so be sure to keep your credit score up.

How do I Find Options?

The easiest way to find local low income senior housing is contacting the city, senior's groups and/or state/provincial housing programs.

There are long wait lists (usually several years long). Start looking and applying early to get your name down on the waiting list.

In the USA, the highest form of low income senior housing is called Section 202. Section 202 housing options are typically small but comfortable apartments you select yourself, at a price figured against your income so you can afford it.

An example of one low income senior housing program is the HUD Privately Subsidized Senior Housing Program. HUD offers qualified seniors private owned subsidized housing. HUD pays private apartment owners a subsidy for renting to low income elderly who qualify. HUD maintains a database at HUD.gov of approved apartments. After identifying a HUD approved rental apartment, seniors can apply directly with the rental agency or landlord.

Costs

Costs are usually based on a sliding scale determined by the seniors household income. Lower income, lower rent.

Most programs in the USA and Canada have a commonly accepted guideline that housing costs should not exceed 30% of monthly household income (including rent, taxes, insurance and utilities) where as other programs take into consideration other variables.