What:

Senior apartments prioritize privacy and personalization with one- and two-bedroom market
rate apartments. All maintenance is handled by the management, reducing the burden on the
resident. Some activities are facilitated by other residents—maybe a book club or a birthday
party—but in general, senior apartments prioritize independent living in a setting that makes it
more manageable. The resident pays rent and utilities, gas/electricity, cable, internet, phone,
sometimes water/sewer. Laundry is often located inside or near the apartment.

Who:

Anyone who needs to downsize their living arrangement, but also wants to maintain
independence.

Consider this scenario:

Katherine lost her spouse a few years ago and has come to the realization that she is lonely in
the family home where she has lived for 35 years. She can’t do the outside maintenance any
longer due to some health concerns and must hire out for lawn maintenance and snow
removal. She wants to find a place where there are other people her age that can relate to her
lived experience. She desires a living situation that removes the burden of home maintenance.
Her daughter lives several hours away and can’t be there to assist her when she needs help
around the house. Her house is paid for, she lives on social security and a small pension. She
doesn’t need much space now that she lives alone and can handle all the activities of daily living
independently. Katherine is an ideal candidate for a senior apartment.

Cost:

Senior apartments can range from $500 to $1,500 and are based on market value.
Affordable/Tax Credit senior apartments are typically around $500 or $600/month. HUD
apartments are typically one-third of your monthly income.