Senior Apartments: Find Affordable Options Near You

Finding the right affordable senior apartment for your loved one doesn’t have to be a daunting challenge. The key is to know what types of properties are available to rent, the amenities, and other options that may be important when considering your senior’s lifestyle needs and required level of care.

There are several types of senior living apartments available for rent, but there is only one breed that will be a good fit for your loved one. Senior living apartments subsidy options exist to offer rent assistance to elders seeking low income housing. This is a popular option for individuals that have a pension but limited funds, or whose family is unable to lend financial assistance.

Different Types of Senior Living Apartments

Subsidized rent assistance is available through various programs. One example is the Section 202 voucher program, an option established by the Housing Act of 1959. This HUD (Housing and Urban Development) program provides seniors with capital advancements to finance housing options for elderly residents.

Assisted living apartments are another popular option. If your senior has a cognitive disease or a physical disability then they may require a senior apartment with assisted living. Levels of assisted living, the care provider’s qualifications, and their availability varies based on your elder’s needs.

Finally, senior independent living is offered in an age-restricted apartment community for residents who require no assisted living care. Senior housing independent living apartments are ideal options for elders who are fully capable of performing the daily functions of life without aid from a personal caregiver.

55 senior living communities are another option for residents who are aged 55 or older. This is a popular option for residents who are at least 55 years of age, and who seek living in a community with younger elders who tend to lead more active lifestyles.

All of these options come with different amenities. From on-site classes such as art, aerobics and yoga, to organized excursions, a pool, and on-site cafeteria meals, every community has varying levels of amenities to accommodate multiple lifestyle needs.

Average Cost of Senior Living Apartments

The average cost of a senior living apartment is based on the size of the dwelling, it’s floor plan, the size of the community, location, level of personal care, and amenities.

Nationally, the average cost of senior independent living apartments ranges between $500 and $10,000 per month. On the flip side, the National Center for Assisted Living Report states that the median cost for assisted living apartments is about $4,000 each month, or an annual cost of $48,000. Finally, when it comes to cost, there may be additional factors such as an HOA fee, or additional charges for access to facility features and amenities.

Real estate search engines like Redfin, Zillow, or ForRent allow people to find the right apartments for seniors based on specific criteria, including the budget, from the convenience of online searching. Families can also contact the AARP for assistance in finding the right apartments for senior living based on their unique criteria. Another option is to utilize senior living care placement organizations like A Place for Mom. Most of these services have zero cost and connect families with a short list of senior independent living apartments, as well as full-care of semi-care senior housing options.

The right affordable senior apartment for your loved one is out there. Once you know the budget, lifestyle needs, level of required on-site care, and have a list of must-have amenities, the search can begin. Just be sure to take advantage of the available search tools and organizations dedicated to helping elders ease into the next exciting chapter of their golden years.