Senior Citizens Resources

Renting Senior Housing Article

Thumbnail example

This is a selection made from among articles on Renting Senior Housing. For a permanent link to this article, or to bookmark it for future reading, click here.

Senior Citizen Government Subsidized Housing

from: Kyle Besser

Many seniors live on a fixed income. Many seniors have only Social Security as a source of income. Government subsidized senior housing is the only option they have to live on their own. To live on their own in government subsidized senior citizen housing, seniors must be able to take care of themselves and not require any outside assistance or supervision.

To qualify for government subsidized senior citizen housing, seniors must be able to show that their income levels are low enough to be eligible for senior subsidized housing. Also, at least one individual has to be 62 years of age or older to qualify for this type of federal subsidized senior citizen housing.

One of the most popular government subsidized senior housing programs is the Section 202 program administered by HUD. The purpose of the senior housing HUD Section 202 program is to help expand the supply of affordable housing that has supportive services for the elderly. The senior housing HUD Section 202 program provides seniors with very low incomes with options that allow them to live independently in an environment that provides support activities such as cleaning, cooking, and transportation.

Besides providing interest free funds to not-for-profit private entities to help develop affordable housing for senior citizens, the senior housing HUD Section 202 program also helps subsidize the rents by paying the difference between the approved rents and the contribution by the senior renting the government subsidized senior housing.

To qualify for this type of government subsidized senior citizen housing, seniors must have a very low income. The income levels needed to qualify for federal subsidized senior housing vary by geographic location. The income needed to qualify for federal subsidized senior housing must be in-line with the HUD published guidelines. These HUD published guidelines to qualify for federal subsidized senior citizen housing can be viewed on the HUD website.

The rent amount for the HUD Section 202 program is calculated by subtracting any approved medical expenses from the applicant's income and then the senior pays 30 % of that amount towards the rent and utilities. The HUD Section 202 program pays the remaining portion of the rent.

Government subsidized senior citizen housing is a good solution for any senior living on a low fixed income to get the help they need renting senior housing that is adequate and affordable. With senior citizen government subsidized housing, seniors can live out their golden years in a clean, safe environment while still maintaining their independence.

Senior-Citizen-Housing Online News

New Jersey/In the Region – A Tilt Toward Renting

The rental market continues strong, a result of a combination of demographics and the economy.

RealPage to Present at JMP Securities 11th Annual Research Conference

CARROLLTON, Texas, May 11, 2012 /PRNewswire/ -- RealPage, Inc. (RP), a leading provider of on demand software and software-enabled services to the rental housing industry, today announced that ...

Budget does nothing for housing- Abbott

Swan says a strong economy supports a fair society but opposition claim it does nothing for housing.

Financial Facts: Can you accept 'I don't know?'

In the past few weeks I have heard more incorrect information about real estate, mortgages and appraisals than I have in the past 12 years. As an example, I received a phone call from a potential borrower who was told that renting out Copyright 2012 Summit Daily News. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Summit Daily News Financial ...