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The most important things are knowing what your senior’s lifestyle and needed level of care may be, as well as the facilities available to rent for senior living, as well as the amenities provided. While there are quite a lot of senior living apartments available for rent, you’ll still need to figure out which one best suits your loved one.
Thankfully, a number of senior living apartments have subsidy options for rent assistance in order to make them more affordable for elders with limited or low income. This has become a common occurrence for seniors who either have a pension with limited funds, or families that can’t afford the added monthly expense.
Here are Different Types of Senior Living Apartments
There are a variety of programs that offer subsidized rent assistance. One such program is the Section 202 voucher program, established by the Housing Act of 1958. This Housing and Urban Development (HUD) program gives seniors with capital advancements the opportunity to finance their housing.
Meanwhile, another common option is assisted living apartments. These types of living facilities can provide your loved one with certain requirements based on their needs, whether they suffer from cognitive disease or physical disabilities. Depending on the level of need your elderly may have, there are different levels of assisted living with possible care providers available to choose from. Again, this will all depend on the needs of your senior.
The other type is the senior independent living, which is basically an age-restricted apartment community where the elderly can live without the need of any assisted living care. These types of senior living apartments are highly ideal for those seniors that can manage on their own and perform all their daily functions without any help at all.
55 senior living communities is yet another option for seniors that are 55 in age or older. This type of living works out best for residents that prefer to be with a younger group of people with a more active community and lifestyle at that.
Of course, all these different living options come with a different amenities so it’s important to know which ones suit your senior the most. Some have a pool and on-site cafeterias, as well as on-site classes like yoga, art and aerobics, as well as organized excursions to make it easier for them to go out. Each community has a number of amenities that can accommodate the particular lifestyle needs of their senior residents.
What Is the Average Cost of Senior Living Apartments
The average cost of senior living apartments is based widely on the size and floor plan of the apartment, the location, the size of the community, the amenities available, and the level of personal care required.
Throughout the US, the average cost of these senior independent living apartments can be anywhere between $500 to $10,000 a month. Yet, according to the National Center for Assisted Living Report, it shares that the median cost for assisted living apartments is around $4,000 per month, which comes out to approximately $48,000 annually. And when it comes to the cost, there are also some additional costs like an HOA fee or additional charges for other amenities and access to particular facility features.
For people wanting to narrow down their searches, they can use real estate search engines like Zillow, Redfin or ForRent. These will help them search based on one’s individual criteria and budget. When needed, families can also get help from the AARP (American Association of Retired Persons) to help find the right apartment based on their senior’s specific needs. There are other senior living care placement organizations like A Place for Mom that families can use. While these services don’t have much cost, they do help families find independent senior living apartments and semi-care or full-care senior housing options as well.
If you’ve been searching for the right facility for your loved one, don’t worry, you’re bound to find the right one soon enough. First, figure out the budget, the lifestyle needs and requirements, if they will need any on-site care, and which amenities are non-negotiable before you start your search. Make sure that you utilize all the search tools and organizations provided that can help you and your elder find the best place for them to eventually call home.