Affordable (income-based) housing encompasses all types of housing communities where either some type of financial assistance is available or the rent is controlled for those who live there. Some examples are HUD-subsidized, low-income housing tax credit and rural development communities. Most Good Samaritan Society affordable housing communities are senior properties with age restrictions and some age exceptions for disabled residents.
Affordable housing serves the mission of the Good Samaritan Society by providing safe, clean and affordable housing exclusively for those who qualify for programs specific to a location. Affordable housing communities offer common space for community events and social gatherings including Bible studies, family activities, educational opportunities, wellness programs and other social opportunities that support the general well-being and quality of life for the residents who live there.
An individual who may benefit from living in an affordable housing setting may:
- no longer be interested in or able to keep up with lawn care, snow removal or other home maintenance tasks;
- live on a limited income and desire a rent based on that income or a rent that is controlled;
- desire socialization and the companionship of having friends and neighbors nearby;
- want added security or feel uncomfortable living alone;
- enjoy participating in spiritual, recreational, entertainment or wellness programming; or
- want the security and peace of mind of being part of a community in which other housing or healthcare options are available, if needed.
Housing and Urban Development (HUD) communities offer apartments based on annual adjusted income for those who qualify. In order to qualify, a household’s gross income (including income from assets) must be below the requirement at the particular community. Any other additional qualification requirements will be explained at the time of application.
In most cases, households will pay 30 percent of their adjusted income towards rent. Adjusted income is derived from subtracting qualifying medical expenses from gross income. After the initial year, rent adjustments are made annually unless significant changes in income or medical expenses occur.
Low-income housing tax credit communities
Low income housing tax credit communities offer apartments that are rent controlled. In order to qualify, a household’s gross income (including income from assets) must be below the income requirement for the particular community. Any other additional qualification requirements will be explained at the time of application.
Rent is not based on the income of the household (unless other programs exist at the community); however, rent cannot exceed the amount allowed by the program. This maximum rent amount is based on a percentage of the area’s median income.