Resources – Senior Income Based Apartments
Affordable Income Based Senior Apartments – Tax Credit Housing
What is it?
“Senior apartments that advertise the word ‘affordable’ are generally tax credit apartment communities aka Texas affordable senior apartments. You will also often see the words “Income Guidelines Apply or “Variable Pricing Structure.” Each tax credit senior apartment community has different income requirements so it’s important to ask when contacting them. Age restrictions for properties may vary from 50+, 55+ or 62+ depending on the property.
Income Guidelines vs. Variable Pricing Structure
Income Guidelines apply to affordable housing which can vary from 30 – 40 -50 – 60% of the area median income in the specific city in which to property is built. You need to determine which property and then that city has its federally established guidelines, for which your monthly income cannot exceed a certain amount, based on HH of 1 person or 2 persons or 3 persons.
Variable Pricing Structure meets the needs of BOTH affordable housing and MARKET RATE apartments that are offered on the same property. Market Rate units have no maximum income guidelines, and usually have upgrades (marble counter, upgraded sinks, tubs, hardware etc..)
Be sure to check with the property you’re considering as they can give you the specific guidelines for “affordable” or determine if market rate is your best option.”
Source: Elder Options of Texas
Who is it for?
These are Independent Living senior apartments. They typically do not provide meals, housekeeping or any type of medical services. However, you can work with an outside agency to bring those services into your apartment, just as you would at home.
Due to a very large demand for these apartments, you will probably find long wait lists anywhere from 6 months to 2 years.
Here are just a few of the Income Based Senior Apartments that I have found over the years.
Plano – (972) 596-3900
Carrollton Arbor Hills – (972) 492-2500
The Colony Morning Star – (972) 370-0900
Rockwall – (469) 698-9393
Richardson – (972) 235-7800
Lewisville – (972) 956-8000
Vista Ridge – (214) 488-5650
Farmers Branch – (972) 406-2700
Hulen Bend – (817) 370-4400
Keller – (817) 741-6000