hud subsidized senior housing – Senior Subsidized Housing

How Do You Qualify For HUD Senior Housing?

To qualify as senior housing HUD must have made the determination that the dwelling is designed only for senior citizens under a any level of government program or only people aged 62 or older live there or at least one person is 55 or older in at least 80 percent of the units that are currently occupied while also adhering to a policy that shows that the dwellings are intended for those aged 55 or older.

The HUD senior housing program also provide money to firms to construct, acquire and rehabilitate buildings for the purpose of serving as housing for low income seniors besides providing rent assistance to the elderly.

Bu doing this more affordable senior housing becomes available with many offering support services for the elderly. This allows elderly people deemed very low income with more options to live independently while also providing services like cooking, cleaning and transportation.

To qualify for subsidized senior housing assistance the applicant or their spouse must be at least 62 years old and classified as having a very low income.

This determination is based on median income levels for every state and county taken from continually updated tables that are maintained by HUD. If, after subtracting any medical expenses approved by HUD, the applicant’s income is less than half of the median income for their area they qualify and only have to pay 30 percent of your adjusted income for rent with Section 202 picking up the rest.

As the program grows and more people reach retirement age the HUD senior housing program has to be able to grow as well to meet the needs of our ever-increasing senior population.

Low Income Required For HUD 202 Housing

Persons are eligible to apply for assistance if their incomes are very low, which is generally equal to 50 percent of the area median family income, adjusted for household size. Residents are predominantly elderly women living alone with incomes between $5,000 and $15,000. The median 2006 income of about $10,000 is well below the income eligibility limit for the program.

The 1974 Housing Act established a new mission for Section 202: to serve persons with low incomes, defined as households at or below 80 percent of the local median income.

Many of our elderly living primarily off of Social Security are in serious need of affordable housing and this is where low income senior apartments can help.

Older people often have difficulty maintaining a large home both from the physical aspect as well as financially and often decide to downsize to an apartment to save money and simplify their life. Smart seniors will begin planning this move well in advance and have all of their ducks in a row prior to moving.

Unfortunately, many seniors cannot afford a luxurious condo or high-priced apartment and must instead look at lower cost alternatives.

People with very low incomes will need help and thankfully there are federal and state agencies in place to help seniors find affordable housing that is clean and safe.

Government subsidized senior housing allows anyone 62 or over that meets the low income threshold based on where they currently live enjoy the freedom of independent living by paying a portion of their rent each month.

Low Income Senior Apartments – Most Are Nice Places To Live

While there are some low income senior apartments that are in disrepair or located in unsafe neighborhoods the majority of the subsidized apartments are clean, safe and actually nice to live in.

Some have additional services like assistance for those that need a little extra help getting around. Transportation services as well as physical activities are common and there is usually plenty to keep the seniors occupied.

In fact, you probably have seen the little shuttle buses from some of these communities in front of the mall or grocery store.

Some apartment complexes have regularly scheduled activities and a senior center that is usually staffed. There might even be a pool, tennis courts and shuffleboard available!

Before signing any lease on an apartment do a little checking around to see what other residents think about the building. Try to make a night visit to make sure there is adequate lighting and no undesirables are hanging around. Many people don’t think about this but I did this before i moved into an apartment complex and I can tell you that you definitely get a different perspective when you make a night time visit.

Understand the lease terms of your low income senior apartments leasing agreement and if there are any parts that are unclear have a lawyer look it over and explain it to you fully before signing any papers no matter what the leasing agent tells you.

There Is A Huge Demand For Low Income Senior Apartments Nationwide

Data from the 2005 American Housing Survey indicate that, of the 12.5 million elderly households with very low incomes, an estimated 3.8 million are renters (see Table 1-14, at the end of this chapter). About 737,000 of elderly renters subsist on incomes that are less than half of the official poverty level.

Nearly half of elderly renters with very low incomes have priority housing problems, meaning that they pay more than 50 percent of their incomes for housing or else live in severely inadequate housing, with nearly all suffering from high rent burden. Slightly more than two-fifths of all elderly renters with very low incomes live in central cities. Fifty-five percent are women living alone.

There are an estimated 3.8 million very low-income elderly renters and 8.8 million very low-income elderly homeowners nationally who are unassisted. Of these 1.4 million renters and 3.2 million owners have priority housing problems

The Section 202 residents are somewhat older than the elderly served by other programs with a median age of 74 years. The median age of those receiving vouchers is 69, and 70 for those in public housing. However, for those in other multifamily housing, the median is also 74.

People who needed public housing faced waiting lists of several months and difficulty finding an accessible apartment or house.

About half of elderly persons who are admitted to Section 202 housing move from a private house or apartment, and an additional one-quarter were previously living with family or friends. Just under a fifth move from other types of assisted housing, including other Section 202 projects. Less than five percent move from institutional or rehab care.