Best Housing For Seniors Based On Income

Written By: William Rivers
Reviewed By: William Rivers
Published: February 2, 2023
Last updated: March 30, 2023

There’s no place like home, especially for our elderly loved ones. A place to call home is essential for seniors, providing them with a sense of security, comfort, and belonging. A place that seniors consider home should be safe, accessible, and comfortable, and it should meet their specific needs and preferences.

For seniors, a home is where they can age in place, maintain their independence, and receive the support they need to live a fulfilling life. 

Income plays a big role in determining where seniors live during their golden age. Even if you live on a fixed income, you still have great housing opportunities. Here’s what you need to know about the best housing for seniors based on income. 

Senior-Assisted Living Communities

Senior-Assisted Living Communities

Senior living communities are specially designed for older adults. They typically offer various services and amenities, such as meals, transportation, and recreational activities. They are intended to provide older adults with an independent and active lifestyle while also providing them with assistance when needed. Different types of senior living communities include independent living, assisted living, and memory care.

The cost of living in these different senior communities varies depending on location and level of care provided. However, they can be pricey for seniors living with small incomes. Thankfully, many senior homes offer financial assistance, with some accepting Medicaid, Medicare, or Social Security payments. 

Various private programs also help seniors afford quality care in these assisted communities. 

Housing Choice Vouchers Program

Low-income seniors can qualify for the government’s housing voucher program, which gives vouchers that can be used to augment the cost of renting or owning a house. Qualifying households can use these vouchers to rent apartments, townhouses, or houses as long as they meet safety and health standards. 

The program is administered by Public Housing Agencies (PHA), which means the vouchers can be used in any state with a local PHA department. Seniors can use these vouchers to get subsidized rent so they can use the extra money for other expenses. 

Section 202 Supportive Housing For The Elderly

Seniors aged 62 and above with limited income can get subsidized rent in specially constructed assisted facilities through the Section 202 program. Private organizations are given funds to develop communities where limited-income seniors can get low-rent housing. 

Seniors must spend no more than 30% of their gross income on rent, ensuring that a bigger chunk of what they have is used for other expenses.


Veterans who are in danger of homelessness can seek help from the Department of Veteran Affairs to be able to afford quality housing. This voucher program helps veterans afford permanent housing, quality healthcare, and mental health treatment. 

It is administered through the HUD and has helped thousands of veterans live in safe and affordable permanent homes. 

Rural Apartments For Seniors

Rural Apartments For Seniors

If you’re good with living in rural areas, the USDA has a program called the Section 515 Multi-family Housing Program that builds affordable housing for low-income residents. The state department builds, acquires, or rehabilitates housing units that they can offer for a small amount to qualified families. 

Low-income seniors can find a slot in the thousands of apartments the department now manages in several rural areas. Seniors can also get opportunities to live with housing assistance and gain independence in the community. 

Living With Family

Seniors shouldn’t discount the possibility of living with their children as they face retirement and age. It’s an affordable solution that presents many benefits for both parties as long as certain rules and boundaries are set. 

Further, the government has programs that will help repair a home for assisted living and help cover the costs of hiring a caregiver. Family members shouldn’t be quick to turn away a senior loved one in need and be open to the possibility of adapting their home to cater to the elder’s needs.

Finding A Place To Call Home 

Seniors shouldn’t be faced with the burden of finding quality and decent housing as they retire and start to age. They’ve worked hard for the country and their families and deserve their just reward. 

If you can afford assisted living in some of the best senior communities in the country, then by all means, take it. But if your income is limited, take advantage of various state and private funding initiatives to help you afford decent housing. 

Best of all, living with loved ones is the best way to have a roof over your head and to age in a place surrounded by people you care about and value.

Are you wondering if you’re considered a low-income senior? Check out our blog to understand what is considered low income for seniors.

Was this article helpful?
William Rivers is an editor with a master’s degree in Human Services Counseling at Maine State University. He has more than 20 years of experience working in the senior healthcare industry.
Related Articles
After years of living under the care of your parents and other family members, the time will arrive for you to reciprocate. At Senior Strong, you can show your loved ones just how much you value them.
642 W 28th St, Los Angeles, CA 90007
(213) 877-8342
Senior Strong © Copyright 2024, All Rights Reserved