Federally subsidized senior rental apartment communities offer a quality lifestyle at affordable rents to qualified lower income senior citizens and people with mobility restrictions. Financial assistance is available through a number of federal programs. In most communities, residents pay about 30% of their adjusted income for rent and utilities. Adjustments are made for those with continuing medical bills.
There are certain criteria that must be met to be eligible for subsidized housing, including income and age restrictions. Federally mandated eligibility income limits set the maximum allowable income. The Department of Housing and Urban Development (HUD) determines and revises these limits annually. Most apartment communities are designated as having low income (LI) or very low income (VLI) limits.
Most apartment communities require applicants to be at least 62 years old or have a mobility impairment, including sight and hearing impairments. Persons with these impairments do not have to reach the age of 62. There are some senior citizen apartment communities that allow a limited near-elderly population of 50 years or older.
Fortunately, many subsidized apartment communities do not have long waiting lists. Planning ahead is advisable and placing your loved one on several waiting lists is legal and certainly advisable.
Applicants have the right to refuse any offer, so you should not be afraid to apply for several facilities with waiting lists.
Source: Metropolitan Associates