Low Cost Housing Options for Seniors

Good news for seniors who want to live in a brand new retirement setting without spending a fortune. These senior apartments and homes are now available for only $400 per month.

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Senior housing is notoriously expensive. Out of all senior expenses, housing is the costliest. On average, 54% of American seniors will struggle to afford housing in retirement. Even with these high prices for assisted living and senior adult communities, there is no guarantee that the cost will cover all seniors require.

Finding good housing for seniors can be a challenge – but is not impossible. Assisted living, older adult communities, and nursing homes can be overpriced, but there are options that are both economically sound ad allows for comfortable living. The secret is to think outside the box.

The most crucial step when trying to find affordable housing is to always contemplate all of the available options. When people think of senior housing, most often they think of nursing homes or assisted living facilities, but there are other options to consider.

When searching for living spaces that are within your set budget, consider these homes, living facilities, apartments and condominiums.

Low-Income Apartments

Under the requirements for low-income housing, usually there are reserved homes specifically for low-income. The Department of Housing and Urban Development (HUD) Section 8 housing is a government-controlled housing option that includes a variety of homes, from apartments to single-family homes. Another organization that offers affordable housing for ages 50 and over is the Good Samaritan Society.

For each of the aforementioned programs and organizations, it will be necessary to complete an application and vetting process to ensure that you meet all of the requirements. Each program will vary in its qualifications.

Certain cities such as Houston, Atlanta, Las Vegas and Tampa have a number of senior living facilities available for under $500 per month.

Virtual Retirement Spaces

You might be thinking this sounds far-fetched, but virtual retirement communities are a choice available for adults of all ages. Virtual retirement offers a balance between independence and resources for assistance. You can live independently on your own and still have access to community and assisted services. Starting at $400 per month, you can have access to services like in home care, errand running and organized activities.

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Adult Group Homes

Sometimes also referred to as adult foster care, group homes offer a collective space for people to live together in one home. This is also often paired with assisted services such as counseling and healthcare. This allows for a spectrum of freedom and assistance for seniors who want to live independently but still require access to different types of support.

Similar to HUD Section 8 housing, the Department of Family Services usually oversees adult group homes. This means there are typically some forms of criteria to qualify for such a living space.

Living with Family

Instead of moving to a separate controlled housing or living facility, co-habituating with your family members is always a good option to consider. Oftentimes older adults have children who live on their own, and who are able to provide housing for you. By moving in with your relatives, you will not have the financial obligation that comes with paying a mortgage or rent. Living with family is also beneficial because it provides a safe and stimulating environment.

Expectations and criteria often come alongside living with relatives. An agreement can be made for the living arrangements that works for all involved parties.

Communal Living

If living with family or relatives is not a viable option, moving in with friends is a good substitution. Sharing the financial burden of paying rent by living with roommates of the same age can be very beneficial and cost effective for seniors.


Medicaid offers a variety of benefits for seniors, some of which include housing. With Medicaid, states can support seniors with their living arrangements. When it comes to long-term care, Medicaid is the best and most well-known government run program. Housing falls under the category of long-term needed care. Like most programs overseen by the government, there are certain requirements to be met in order to receive the benefits. Some include:

  • Agreement that the majority of financial assets is put towards long-term care
  • Possess a low-income classification or possess medical expenses that exceed income
  • Residence in the required state 
  • Be a U.S citizen

Researching Low-Cost Housing in Your Area

Uncovering the right nominal cost living arrangements for seniors is no easy feat. Finding a housing option that meets your necessities within your budget is challenging. Managing financial burdens and compromising for the housing you want is difficult.

When researching the housing options in your area, it is important to leave no stone unturned. Investigate every option. Keep an eye out for advertisements that showcase affordable senior living. Conduct a web search. If you are identified as a low-income individual, you may apply for assistance programs that are intended to ease financial strain.

Searching high and low for the right low-cost housing options for you is helped by possessing the right knowledge. With the information listed above, the search for affordable senior living will be easier than ever.

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