Dominium is building “affordable housing” units in various areas of the metro. They are familiar with working with Section 8 and Section 42 credits so housing is more affordable to those with lower incomes. They have units in 23 states. In front of their 9 newest buildings in the metro the sign reads” affordable housing”. So what is affordable senior housing?
For affordable housing or Section 42 you need income levels under:
- $37,980 for 1 occupant
- $43,440 for 2 occupants
- $48,840 for 3 occupants.
For Sec. 42 housing, the price income limits are based on 60 percent of the area’s median income. Thus, the rent of The Grainwood Senior Living that has opened recently in Prior Lake is going to be higher than The Legends of Silver lake Village in St. Anthony since the median income is different. The Grainwood is one of their newest buildings to open and has 50 % of their apartments reserved already. Rent starts at $939 for a 1 bedroom. There is The Legends of Apple Valley and The Legends of Cottage Grove opening in 2018 as well as The Legends of Champlin and The Legends of Columbia opening in the North metro also opening in early 2018. Many seniors may feel paying over $900 for rent is not very affordable. If that is true then there is Sec 8 or HUD housing. Unfortunately, the wait lists for those units in most of the metro are closed. And if a waitlist is open plan on waiting about 2 years. In HUD housing, 30% of your monthly income is paid toward rent which makes this much more affordable.
If you are looking for a maintenance free and handicap accessible (no stairs)home in a community, these options will meet your needs. If however, you are wanting to age in place and are looking for scheduled transportation to shopping and activities, or meals and services like housekeeping, you won’t have access to these services in these buildings. For more information on other Sec 42 buildings or help in finding a senior living option with services please call Choice Connections. We are happy to help!