Federally subsidized senior rental apartment communities offer a quality lifestyle at affordable rents to qualified lower income senior citizens and mobility impaired persons. Financial assistance is available through a number of federal programs. In most communities, residents pay approximately 30% of their adjusted income for rent and utilities (Adjustments are made for continuing medical bills).
There are certain criteria which must be met to be eligible for subsidized housing, including income and age factors. The maximum allowable income is determined by federally-mandated eligibility income limits. These are determined and revised annually by the Department of Housing and Urban Development (HUD). 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 a person with 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 of age or older.
Fortunately, many subsidized apartment communities do not have long waiting lists. Planning ahead is advisable and placing your name on several waiting lists is legal and certainly advisable.
As an applicant you have the right to refuse any offer, so you should not be fearful to apply on several waiting lists.
Article provided by: Metropolitan Associates