When searching for living options for seniors, it’s essential that you take the time to review all of your options before settling on a type of housing. In addition, if you have limited income and are searching for low-income senior housing, it’s important to learn about the various federal housing resources and programs that help older Americans. 

The United States Department of Housing and Urban Development (HUD) provides many of these programs and resources. Those programs and resources include:

  • The Housing Choice Voucher Program (HCV)
  • Public Housing
  • HUD Homes

HUD Senior Housing
hud senior housing

The Housing Choice Voucher Program, better known as Section 8 housing, helps low-income disabled and elderly adults find affordable and safe housing opportunities. Eligible seniors, disabled individuals, and families can receive up to 70 percent off rental payments in qualifying housing. In this type of low-income senior housing, the HUD program pays a portion of your rent. The amount that they cover depends on many factors, including your income and rental expenses. 

Another great low-income living option for seniors is HUD’s public housing program. The program works similarly to the Housing Choice Voucher Program. Eligible qualifying seniors receive discount rental rates to help them afford safe housing opportunities. The key difference between these programs is who owns the property. With Section 8, landlords and private companies own the apartment complex, like any other complex. However, when it comes to public housing, the HUD’s housing authorities own the property.

Lastly, you may be interested in HUD homes if you prefer senior housing opportunities where you live in a property you own. HUD homes are houses that were initially financed through an FHA loan, a financing option that the government secures. If a borrower defaults on an FHA loan, the HUD sizes the property to recoup some of the money it lost. These homes are then put up for sale below market value to entice buyers for a quick transaction.

Buying a HUD home is similar to buying any other type of home. Furthermore, most of these homes are in excellent condition, and discounts are available for qualifying public servants, such as police officers and teachers. You can view available HUD homes online using the HUD search tool. Unlike senior apartment options, HUD homes must be purchased, and you will need to meet financial requirements. You will need to secure a loan and, like any purchase, provide adequate down payment for the home.