As rental rates continue to rise across the nation, senior citizens on a fixed income continue to feel the pinch. The economic crunch can be even more severe as seniors get older and require more care and services. Even for those who have managed to save a nice “nest egg,” it doesn’t take long these days for savings to be depleted — and many seniors don’t even have that luxury. How can seniors live comfortably and affordably at a time when continue to rise?

Fortunately, there are options for older citizens to find inexpensive senior housing — if you qualify and know where to look. If you’re over the age of 55 and struggling to find a rent you can afford, here are four resources for which you may be eligible.

Veterans Senior Housing Benefits

The U.S. Department of Veterans Affairs (VA) offers a wide range of assistance options for people who have served in the armed forces, from medical benefits to pensions and senior care benefits. If you are a spouse or survivor of a deceased veteran, you may also be eligible for assistance. The VA offers a number of benefits in addition to pensions that may help with housing costs, including Aid & Attendance (if you require in-home care or are bedridden), Housebound benefits and others. Even if you don’t need extended care at this time, some of the benefits may help offset your rent. Check with your local VA office to find out which services you may qualify to receive.

Faith-Based Senior Living

Another resource many seniors overlook in seeking inexpensive senior housing is the help of their religious organization, denomination or house of worship. Many denominations and religious organizations provide financial, housing and senior care assistance for their older members. In many cases, as with many Catholic charities like the Sisters of Mercy and Catholic Community Services, you don’t have to subscribe to that particular religion or denomination to receive the benefits or to live in their senior living or assisted living facilities. Start by checking with your local church or synagogue to see what programs they may offer. For a list of faith-based organizations that may offer senior housing assistance, click here.

Masonic Senior Living

If you or your spouse is/was a member of the Freemasons, you may also be eligible for a number of senior living options these organizations offer. The Masons are known for taking care of their elderly members and families, and they offer a variety of benefits including independent senior living, assisted living, home care and more. Check with your local Masonic organization to see what housing options they may offer for seniors on a limited income.

HUD Senior Living

If you are 55 and over and need affordable housing, you may be eligible for government programs that enable you to live in comfortable, affordable housing designated for senior living. These benefits are underwritten by the U.S. Department of Housing and Urban Development (HUD) and may include public housing (government-administrated), multi-family subsidized senior housing, and housing vouchers that enable you to choose from eligible properties. To see if you qualify for HUD senior housing programs, check with your local housing authority.

Olympia Property Management is pleased to administer many safe and affordable housing complexes designed to meet the needs of senior citizens. To see what we have available in your area, call us today at 256-894-2382.

In today’s housing market, it can be a huge challenge for seniors to find affordable living situations, especially those who are on a fixed income or who have lessened earning capacities. The good news is that thanks to a number of government programs, affordable senior housing options are available almost anywhere in the country for those who qualify. If you are at least 55 years old and meet certain income requirements, chances are there is a comfortable apartment in your area designed to meet your needs, available at a cost you can actually afford. Let’s take a few minutes to discuss these options and tell you how you can qualify.

What Classifies as Senior Housing?

Senior housing consists of any residence or development that is designated and designed to meet the needs of senior citizens. In most cases, the Fair Housing Act (FHA) prohibits discrimination based on age or familial status (i.e., families with children); however, the government exempts senior housing from this rule as long as one of the following 3 criteria are met:

1. All occupants of the development are age 62 and older; OR
2. The community holds to a policy of intent to house people aged 55 and older AND at least 80 percent of the units are occupied by someone aged 55 and older; OR
3. HUD recognizes the community as one that caters to the needs of senior citizens under a federal, state or local government program.

How the Government Helps Make Senior Housing Affordable

There are many different programs at the federal, state and local levels that can assist with making affordable senior housing available for those who need it. In particular, HUD provides several solutions for seniors, including:

• Subsidized housing options: Apartment communities and other developments who qualify to receive government subsidies to offer reduced rents to seniors
• Public housing options: Government-administered housing developments for low-income seniors
• Section 8 Housing Choice Vouchers: These vouchers help seniors pay rent in their own apartment, and follow them to the next place if they move
• Section 202-Supportive Housing for the Elderly: Another government-backed program to finance and subsidize developments designed to accommodate the elderly

Is This the Same as Assisted Living?

No, it’s not. Some assisted living facilities may qualify as affordable senior housing, senior housing is not automatically assisted living. Many seniors remain quite independent and simply need housing that is affordable and designed around their needs. This is the need senior housing seeks to address.

How Do I Qualify for Affordable Senior Housing?

While certain restrictions may apply according to property or government project, you may qualify for affordable senior housing as early as age 55, provided you meet the minimum income requirements.

HUD essentially categorizes seniors in two low income brackets based not on actual dollars, but on the median income of the local area as well as the rent market value. The goal is for rent not to exceed 30 percent of your monthly household income. The two income brackets are:

• Low income: Seniors whose income is 80 percent or less of the area median income (AMI); and
• Very low income: Seniors whose income is 50 percent or less of the AMI.

Of course, the median income can vary widely according to location, so if you are on a fixed income, you may qualify more easily for senior housing in some cities than you would in others.

How Do I Find Senior Assistance Programs in My Area?

The Department of Housing and Urban Development has created a useful interactive tool that can help you identify senior assistance programs in your local area. From there, you can call the local field office to find out what kind of documentation you need to prove your income, as well look for affordable senior housing options in your area.

As part of our ongoing commitment to provide affordable housing options, Olympia Management oversees a number of properties specifically catering to the needs of low-income seniors aged 55 and up. We can also provide more information on how you can qualify to live in one of these properties. To learn more, contact us today.