Affordable senior housing spans several programs, each with its own rent structure. Here's how to compare them and find options near you.
What makes senior housing affordable?
Senior housing becomes affordable through government subsidies and tax incentives. HUD Section 202 and public housing cap your rent at about 30% of income. Section 8 vouchers cover part of your private-market rent. Low-Income Housing Tax Credit (LIHTC) properties charge a fixed reduced rent set below market rate. Each program targets different income levels, so the right choice depends on what you earn. The deepest discounts come from HUD-subsidized buildings, though their waiting lists tend to be longer. To compare options near you, call 1-800-MEDIGAP at 1-800-633-4427.
How do I find affordable senior housing near me?
Use the HUD Resource Locator at resources.hud.gov to map subsidized and tax-credit buildings by area, and contact your local Public Housing Authority for voucher and public housing lists. LIHTC properties can be searched through HUD's tax-credit database at huduser.gov. Because affordable units are in high demand, apply to several programs and buildings at once. Having income and ID documents ready speeds things up. For free help building a list that fits your budget, call 1-800-MEDIGAP at 1-800-633-4427.