SeniorLivingSearch.Com Types of low-income senior living options
There are a few different types of low-income housing options available to seniors and the elderly. Different options will be determined by income requirements, age and medical needs, as well as availability and wait lists.
1. Senior apartments: these apartment-living options can provide a budget-friendly housing and senior community option to elders.
2. Subsidized senior housing: sponsored programs with HUD and other government entities can assist with costs and care for seniors.
Department of Housing and Urban Development (HUD) Options
Fortunately, the government can help to subsidize housing, beyond Social Security benefits, and includes a few different living options through the Department of Housing and Urban Development (HUD). Here’s a quick breakdown of the HUD housing options:
1. Low Income Housing Tax Credit (LIHTC): HUD participants can offer seniors low-income housing by setting aside a specific number of units. Seniors can qualify if they meet the HUD income requirements.
2. Housing Choice Voucher Program: This is the Section 8 housing option where individual income must not exceed 50% of the medium income in the local area.
3.Section 202 Supportive Housing Program: This is a HUD sponsored program specific to seniors (adults over 62 years of age) that meet a “very low income” requirement. Section 202 housing can be excellent options but typically have long waiting lists.
How to qualify for low-income senior housing options
According to the SF Gate news site study of local senior citizens, “federal statistics show that a quarter of the country's senior citizens are poor, a third say it's hard to meet monthly expenses, and nearly half say they have housing problems.
In some places, this translates into cramming in with family, or at worst, homelessness.” Fortunately, there are viable housing options for seniors with low income as they search for assisted living communities.
Each assisted housing option has different guidelines, income limits, and eligibility requirements and should be evaluated independently.
If you’d like assistance finding an affordable senior housing option, contact your local HUD rental office.
Visit www.seniorlivingsearch.com
0 Comments