About 740 S. Olive Street Apartments:
What is Section 202 Housing for the Elderly?
The Section 202 program helps expand the supply of affordable housing with supportive services for the elderly. It provides very low-income elderly with options that allow them to live independently but in an environment that provides support activities such as cleaning, cooking, transportation, etc. For more information about HUD's Section 202 program please visit the HUD website.
In Order to Qualify
Occupancy in Section 202 housing is open to any very low-income household comprised of at least one person who is at least 62 years old at the time of initial occupancy. Income limits are set according to where you live (State & County). In order to determine if your income qualifies as "Very Low Income" please use HUD's Income Limits.
Affordable Housing Standards:
While each community will have its own special features, all Section 202 Properties will include the following:
- Fire Alarms
- Smoke Detectors
- Facilities/Residences are Non-Smoking
- On Site Mail Delivery
- Elevators on Multi-Floor Facilities
- At Least One Accessible Unit
Rent Based on Income
Rents at this community are based on the resident's income. Typically rent is set at or about 30 - 40% of the resident's adjusted income. So, for example, if a renter's adjusted income is $1200 per month, rent would be around $300 - $400 per month.
On-Site Services Coordinator
A Service Coordinator assists residents by helping them to identify, locate and acquire supportive services such as home help, legal assistance, transportation, health care, home delivered meals and money management services. The Service Coordinator can also help residents apply for Social Security, SSI, VA benefits, Medicare/Medicaid and other programs. Service Coordinators can also organize wellness clinics and educational programs on issues like diabetes, nutrition, depression or similar.