Many seniors are not as financially prepared for retirement as they would like to be. As a result, the Department of Housing and Urban Development (HUD) has created several programs to assist seniors, including rent assistance, house ownership, and assistive services for seniors and the disabled.
Low-income senior housing, also called affordable housing, are housing options for senior citizens with low incomes. Although housing has been recognized as a human right under several international conventions, access to housing for low-income seniors is usually challenging.
There are 55+ Communities, Independent Living Communities, and Assisted Living Communities that offer one of several different government assistance programs designed for low-income seniors. So if you have been wondering “is there any low-income senior living near me?” The answer is yes. There are generally income restrictions, and individuals must meet certain criteria to qualify for low-income senior housing assistance.
Types of low-income senior housing
The Section 202 Supportive Housing for the Elderly Program and the Low-Income Housing Tax Credit (LIHTC) program are the two most common programs.
Supportive Housing for the Elderly (Section 202)
Consider the Section 202 program for seniors who want to live independently but may need assistance with daily activities. As the only program dedicated solely to senior citizens, common features of these communities include housekeeping, transportation, referral services, and counseling, though specific services and amenities vary by housing community.
Expect one-bedroom apartments with a kitchen and bath and aid amenities such as ramps and grab bars. Housekeeping, transportation to medical appointments, and home-delivered meals are among the other amenities.
Am I eligible?
Seniors must be 62 years old or older and have a very low household income to be eligible for Section 202 supportive housing (50 percent of area median). The typical resident is 79 years old. The average annual salary is $10,018.
How do I submit my application?
Contact the individual senior home community you are interested in for more information and apply for Section 202 help. You may be wondering “how do I find a low-income senior living near me?” Click here, to find various independent housing options in your area to choose from. Take note that waitlists are normally at least a year. Those who pay 50% of their income in rent, have been forcibly evicted, and live in inadequate housing are given priority for admittance.
LIHTC (Low-Income Housing Tax Credit)
A large number of LIHTC properties are designated as senior housing or elderly housing. The Internal Revenue Service oversees this tax credit program owned and operated by for-profit or non-profit organizations (IRS).
Am I Eligible?
Each inexpensive senior community has its own set of standards, usually determined by age and money. Most LIHTC community residents must have a limited income, usually 60 percent of the area median income, but some can be as low as 30 percent or as high as 80 percent.
What about my personal property?
Even if you have assets or own your house, you may still be eligible for a LIHTC. Income, including income earned from your assets, is used to assess eligibility. You may utilize your home as an investment during your stay at a LIHTC community, but you may not reside there.
What is it like to live in a LIHTC community?
Apartments in LIHTC developments are often one or two bedrooms. They are normally unfurnished. The apartments are designed with elders in mind, and many complexes have common areas and community events.
Visit Senioridy for more information on Low Income Senior Living.
