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What is Senior Housing?
Like everything else in life, our housing needs change as we grow older. Adapting to these changes enables you and/or your loved one to live well now and prepare for the future. Senior housing places a stronger emphasis than traditional housing on accessibility, adaptability, safety and security. Housing options for older adults range from master-planned communities for ages 55+ to nursing homes that provide 24-hour care.
As you consider the different options, make a list of personal needs — financial, physical, mental and emotional — and schedule tours of the places that meet those needs. The best housing option for one person may not be a comfortable fit for someone else. Search our senior housing listings now, or call 1-833-MY-SENIOR to get answers to any questions you may have.
Alternatives to Senior Communities and Care Centers
When a home becomes too expensive or difficult to maintain but living in a care center isn’t necessary, there are other housing options for older adults.
Older adults with limited incomes may qualify for low-income housing. Several options are available. Senior apartments with subsidized rents are available from private entities that received financing from the United States Department of Housing and Urban Development to build affordable senior housing. Rent is typically 30% of your gross household annual income. Each landlord or property management company has its own application process, which may or may not require an application fee. Depending on demand in your area, you could be placed on a waiting list upon approval.
HUD’s Housing Choice Program is an option for those whose income does not exceed 50% of the median income in a geographic region. Vouchers are issued to qualifying seniors and can be used on homes or apartments that meet certain quality and cleanliness standards. To apply for this program, contact the housing authority in your area.
The Internal Revenue Service offers a Low Income Housing Tax Credit. LIHTC properties are owned and managed by private organizations, both for-profit and nonprofit. They typically have minimum age requirements in addition to income limits, which range from 30 to 80% of the median income in the geographic area. For more information on low-income senior housing, contact one of our advisors at 1-833-MY-SENIOR.