1. Affordability

Subsidized housing is a type of low-income housing that is financed by government programs to provide suitable affordable rental housing. The most attractive benefit to subsidized housing for seniors is its price. Much of the messaging in affordable housing focuses on the fact that many seniors are living on fixed incomes, often pensions or Social Security benefits, that fall short of paying market rents. Subsidized housing means less financial strain because rent is often below market rates. It can go a long way toward ensuring the senior can afford a decent quality of life, and maybe even provide a few extra dollars for healthcare, or medications, or other basic needs.

2. Additional benefits

By the way, subsidized housing often gives older adults access to other benefits that make it easier for them to live in place. Most units are targeted to seniors and are purposely built for aging in place. Wide door entry, grab bars in toilets and elevator when it comes to home such items may highly helpful to comfort and safety. Beyond this, subsidized housing projects also include community centers, libraries, and fitness centers within their development to cultivate socialization between residents and promote mental and physical health.

3. Location

Location is the other most important consideration when determining if subsidized housing is the right fit for a senior. These developments should, ideally, be located near health care, groceries, mass transit, and recreation. Being close to these amenities can enhance the quality of life for the elderly since they do not have to strain both physically and mentally going through the hassle of travelling and daily tasks. However, not all subsidized housing fits this definition, and some developers may be on the outskirts of an area where the programs are designed.

4. It comes with high-end demands but also limited availability

However, subsidized housing does come with some disadvantages. Getting a unit is competitive with a long application and waiting period because there's a lack of inventory. Others may also desire the independence and privacy of single-family homes or condos that are generally not found in subsidized housing, which tends to be more communal in nature. For others, the noise, lack of privacy and all the rules that come with living in subsidized housing communities might also be off-putting.

5. Psychological aspects

For others, the stigma associated with subsidized housing serves as a barrier to entry. This is great, but culture is a real thing, and I think the majority of people interpret subsidized housing as being synonymous with poverty, or at least not very rich. That stigma can make some seniors feel embarrassed or ashamed, step back from this type of housing opportunity, and even choose to forgo it altogether, even if this type of housing would be a much better living situation for them.

In short, subsidized housing can be a nice option for seniors who may be on a fixed income or have conditions that need to be catered to. The choice to go down the subsidized housing route should come after weighing your individual needs as perennial birdies: where you want to live; what your lifestyle requires; how much, if at all, you want to contend with a bunch of housemates.