Senior Resources » 5 Tips to Get Affordable Senior Housing

Save Big on Senior Housing with These 5 Insider Tips!

Save Big on Senior Housing with These 5 Insider Tips!

Living on a fixed income during retirement can be tough, especially when unexpected expenses arise. What happens when medical bills or rent become too much to handle? Don’t panic! You have options. Check out these 5 insider tips to find affordable senior housing or get help paying your mortgage. You won’t believe how easy it is to save big during your golden years!


1. Talk to Your Local Public Housing Agency (PHA)

55+ couple consulting

A Public Housing Agency (PHA), also known as a Housing Authority, is a government-funded organization that administers housing assistance programs for low-income families and individuals. The PHA is responsible for managing and distributing Federal Housing Choice Vouchers, which provide financial assistance to eligible households who are struggling to afford safe, decent, and affordable housing.

The Housing Choice Voucher Program, also known as Section 8, allows voucher recipients to choose and lease or purchase their own home from a participating landlord. The program works by paying a portion of the rent directly to the landlord on behalf of the tenant, making it an effective way to help families and individuals secure housing they might not otherwise be able to afford.


If you are in need of affordable housing, the Housing Choice Voucher Program might be able to help. To find a PHA near you, visit HUD’s directory. Once you contact your local PHA, they can help determine if you are eligible for the program and provide you with additional information about available housing options.

2. Look at the Low-Income Housing Tax Credit Program

san fran houses

The Low-Income Housing Tax Credit (LIHTC) program is a federal initiative that was created to encourage private investment in the construction and development of affordable housing for low-income individuals and families. The LIHTC program provides tax credits to developers and investors who build, rehabilitate, or acquire rental housing designated for lower-income households.

These tax credits allow developers and investors to offset the costs associated with building affordable housing, which can be significant. This financial incentive makes it more economically feasible for developers and investors to build affordable housing units, as opposed to market-rate units. As a result, those in need of affordable housing are able to rent these units at a significantly reduced rate.

The LIHTC program is overseen by local agencies, which have the authority to grant credits for the acquisition, rehabilitation, or new construction of rental housing targeted to lower-income households. These agencies also work to ensure that the rental units are maintained and operated in accordance with program requirements.


If you are looking for affordable housing in your area, the LIHTC database is a valuable resource. This database provides information about developers and investors who are participating in the LIHTC program and building affordable housing units in your area.

3. Use the BenefitsCheckUp Tool

typing on computer in lap

The National Council on Aging (NCOA) is a non-profit organization dedicated to improving the lives of seniors in America. One of the ways they do this is by offering a valuable tool called BenefitsCheckUp. This free online tool is easy-to-use and helps seniors determine whether they qualify for any state or federal assistance programs.

BenefitsCheckUp works by asking a series of questions that are designed to identify which programs you may be eligible for based on your current situation. The tool takes into account factors such as your age, income, location, and health status. Once the screening process is complete, the tool provides you with a list of programs and services that may be able to provide assistance for things like food, medical care, and utility bills.

4. Use the Benefit Finder

typing on a computer is a government website that helps people find government benefits and assistance programs. The site offers a range of resources to help people find the programs they need, including a Benefit Finder tool and a categorized list of programs.

The Benefit Finder is an easy-to-use online tool that asks a series of questions to identify which benefits and assistance programs you might be eligible for. The tool takes into account your age, income, location, and other factors to provide a personalized list of benefits and programs that may be available to you. Once you have completed the questionnaire, the tool directs you to the appropriate agency or program to apply for assistance.


In addition to the Benefit Finder, also offers a categorized list of programs that can be sorted by topic or category. This makes it easy to find assistance with disaster relief, healthcare, financial needs, loans, and more. Whether you are looking for housing assistance, job training, or veterans benefits, has a wealth of information to help you find what you need.

5. Consider Shared Housing

senior housing choices

A unique housing option that’s gained popularity in recent years is shared housing. Shared housing is exactly what it sounds like. It involves seniors living together and splitting rent, utilities, and responsibilities. In addition, shared housing provides the opportunity to form friendships and build community connections with others who are in similar situations.

There are many different types of shared housing arrangements available, from co-living communities to roommate-matching services. Some shared housing programs even offer support services, such as transportation, meal delivery, and housekeeping.

Are You Looking for Senior Housing?

senior woman sitting on couch using a tablet searching for senior housing resources

Take a look at these additional senior housing resources:

Fins shared housing near me.

Find senior resources in your state!

HUD Office of Manufactured Housing Programs Homepage

Long-Term Care Insurance Basics

The Fair Housing Act: Housing for Older Persons

Do you need help with retirement planning? Then check out Bob Carlson’s Retirement Watch!

The Ultimate Will and Estate Planning Checklist and Basics Guide

Originally published June 29, 2023

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