Senior Apartments Info

Have you ever walked into a management office and asked if you could be given a senior application?? Well, I am here to educate/mention the difference between senior housing applications.

There are two types of senior buildings that many are not aware of. There are “Low Income Tax Credit” senior buildings and then there are “HUD 202” buildings.

Low  Income Tax Credit senior buildings have regulations for the prospective tenants, such as they have to be 55 years or older, disabled or both. This does NOT mean that it is based on the person’s low income. These types of buildings have income requirements that the tenants/applicants have to meet in order to live in these buildings.

For example: In a low income tax credit building, the minimum income for a 1 bedroom apartment is $27,000 a year BUT the applicant HAS to be over 55 years old.

Yes, I manage buildings full of seniors that meet this minimum income requirement just in case you’re wondering.

Then:

There are Hud 202 buildings. Senior building. 

These buildings are for seniors 62 years and older ONLY. Since the building itself has section 8, there is no minimum income requirement. This is what most of you should be looking for and not just a plain "senior" building. 

BE AWARE that if you already live in a HUD 202 building and you want to move, there is no way that you can take the section 8 with you. It stays with the building itself and the next tenants that rent that apartment will have the section 8 that you once had. Since the waiting list for section 8 was closed, it is very hard to find HUD 202 buildings that are not already leased out or have an extensive waiting list. So word of advice, think long and hard about leaving that 30% of your income rent and ask yourself if you can afford to pay regular rent for an apartment.