Atlanta Senior Housing | Affordable Senior Living | Fixed Income
There is a great need for lower-income housing for seniors in Metro Atlanta. These properties are usually subsidized in some manner, so an Atlanta senior can afford it. Many seniors who retired a long time ago in the Metro Atlanta are are outliving their money. Their fixed incomes haven't increased with the cost of living.
Subsidized housing encompasses all types of Atlanta senior housing. Local, state and federal governments provide some type of subsidy or rent assistance, including public, non-profit and co-operative housing, as well as rent supplements for seniors living in private market housing in the Atlanta metro area.
Realizing this need, more and more developers are building lovely senior housing in the Metro Atlanta area, in which the government gives them tax credits for those Atlanta and Georgia seniors who need lower rents.
Financial support for subsidized housing is generally administered based on "rent-geared-to-income". Rent-geared-to-income is for low-to-moderate income seniors. Tenants pay rent based on the gross income of the household rather than paying the market rate. Affordable rent is defined as costing no more than 30% of a household's total gross monthly income, subject to a minimum rent that tenants will be asked to pay based on the number of persons living in the home. Rent-geared-to-income units include all public housing and many developments managed by non-profit and co-operative housing providers.