The U.S. Department of Housing and Urban Development (HUD) creates affordable housing for citizens across the country by funding programs for rent assistance, home ownership, and assistive services for seniors and the disabled. We know making a lifestyle change – especially when it comes to your home – is difficult. Knowing how HUD programs can benefit individuals is important at this stage of life, and can ease the transition.
What is HUD Housing?
A survey by the Insured Retirement Institute found that 70 percent of middle-income baby boomers are not confident in having enough money to live comfortably in retirement. At Walker Methodist, we hear this as a concern often from potential residents and their families. Part of our process includes covering affordable housing options.
HUD creates affordable housing for citizens across the country by funding programs for assistance for seniors. Some of these programs include:
Housing Choice Voucher Program: provides rent vouchers for housing in the private market to low-income families, seniors, and the disabled.
Supportive Housing for the Elderly: rent-assisted housing specifically for seniors to live as independently as possible but who may need some assistance with activities of daily living.
Medical expenses, utilities, food, housing, and transportation are all concerns for seniors. HUD housing would address most of those concerns while giving individuals the option to live independently in environments that provide support.
HUD Housing Eligibility
Because HUD is a government-sanctioned organization, there are requirements and regulations associated with qualifying for its programs. Relating specifically to the Supportive Housing program for seniors, there are some requirements for eligibility. For individuals, those 62 and older with very low income (50% of area median) can be considered for the subsidy.
The type of housing is typically one-bedroom apartments with kitchen and bath, plus special amenities for support like railings and grab bars, ramps, nonskid flooring, etc. Other features include housekeeping, transportation, and meal plans. Another consideration of HUD housing is the waiting list, which is often long, and can range from two to five years.
Affordable Housing at Walker Methodist
When HUD was established over 50 years ago, it had a mission of creating and supporting strong, sustainable, inclusive communities and quality housing for all. That mirrors what we do at Walker Methodist for our communities’ residents. Part of HUD’s Supportive Housing program pertains to private, nonprofit organizations to finance the construction of supportive housing for qualifying seniors and provides rent subsidies.
Three of our communities (33% of our family of communities) offer affordable apartments for qualifying residents including Kenzie in St. Anthony, MN; River in Anoka, MN; and Lyndale in Minneapolis. All three locations offer different amenities with one-bedroom apartments, and have an income-based percentage rent as supported by HUD’s Supportive Housing program.
As you or your loved ones plan for the next stages of life, do your research. Determine the assistance needed, what health insurance covers if applicable, and what’s affordable. We’re here to answer any questions you may have on topic or otherwise, and would love to take you on a tour of communities.