What are Senior Apartment communities?

An increasing number of retirees are taking advantage of living in Senior Apartments which tend to be a bit more varied than “Active Adult” and “55+”!  They may be age-restricted communities. But they may also be traditional apartment buildings in the heart of the city, a suburb, or the country.  Many are designed to promote a thriving, active, and independent lifestyle with pools, tennis courts, fitness centers, a helpful concierge and many other truly meaningful services.

The best of both worlds!

There is an increasing trend for such apartments to be “age-restricted” but placed amidst the hustle and bustle of the city, encouraging daily inter-generational friendships and interactions. This could give you the best of both worlds! And, as you age, you are usually free to arrange for home care or other care inside your home as you deem appropriate.

Low Income Senior Apartment options.

Some apartment communities are designed for much older retirees with little income. Some are supported by the Federal, state, or even local governments to enable seniors with very low incomes to live and thrive. These include:

1. Low – Income Housing Tax Credit Properties;
2. Section 202 Supportive Housing for the elderly;
3. Public Housing and
4. Section 8 Housing Choice Voucher Program.

The choices are many. It is important you ask a lot of questions as you research this living option. As a helpful start, download our Senior Apartment guide below.

Helpful Savings Options When Renting.

Rent costs usually increase annually when you live in an apartment. While maintenance is usually taken care of for you, it is important to have sufficient savings to cover your living expenses and possible annual rent increases.  Our savings and checking accounts can ensure you are in good shape as you enjoy life in your new apartment!