Thursday, June 22, 2023

Senior Housing in North NJ

Are you looking for Senior Housing in North NJ? First Montclair House is a warm and friendly 131-unit apartment building, offering HUD-subsidized Senior Housing in North NJ, in the town of Montclair in the heart of Essex County.

First Montclair House |     Senior Housing in North NJ

A 2017 statistic from the US Census Bureau reveals that 15.8% of New Jersey's population (about 1.3 million residents) are over 65, and by 2034, the number is estimated to grow increase by 32%. On the other hand, over 30% of seniors rely on social security as their sole source of income, making it impossible for seniors to afford a good and rent an apartment. However, living doesn’t have to be expensive for seniors considering senior housing options in North New Jersey. Wonder why? Let's find out.

Senior Housing is the Cheapest Way for Seniors to Live

Living expenses for seniors in New Jersey can be higher compared to most regions. New Jersey has a relatively high housing cost, whether it involves rental or homeownership options. On the other hand, the fact that the state borders major cities like New York City and Philadelphia contributes to the higher housing costs. More than this, New Jersey has one of the highest property tax rates in the United States at 2.21%, and these property taxes can significantly impact living expenses for seniors. That’s not all.

New Jersey has a higher state income tax rate compared to states like Tennessee, Alaska, Florida, and Wyoming. Hence, seniors that depend on their retirement income, from their pensions and Social Security benefits may not be able to afford this tax as it can affect their disposable income and living expenses. That’s not including the high cost of healthcare that comes with living in New Jersey. With an average annual healthcare spending per capita at $8,869, which is $843 higher than the national average of $8,026, affording the cost of healthcare can also be challenging for many seniors, even without transportation costs. However, senior housing in North New Jersey limits these challenges.

Senior housing communities in New Jersey often have a monthly fee structure that covers various services and amenities. Depending on the community and level of care, these fees can vary. Still, they typically cover essential expenses such as utilities, maintenance, security, and sometimes meals, making it easy for seniors to budget and avoid unexpected expenses. Importantly, many senior housing communities provided readily available healthcare access to their residents. Transitioning to a senior housing facility also eliminates the cost of property taxes, home insurance, and maintenance since the facility providers will take charge of these processes.

The Bottom Line

Senior housing facilities offer several benefits a traditional residence won't. From cost advantage to living an expense-free daily life with access to healthcare, living in a senior housing facility may just be the right move for older people with financial constraints. Luckily, North New Jersey offers a diverse range of senior housing options that cater to various needs. If you are looking for HUD-subsidized senior housing in North New Jersey, visit the First Montclair House today to find a residence that can meet your budget.

To speak with a representative about availability of our Senior Housing in North NJ, call First Montclair House at (973) 746-0895.

First Montclair House – your trusted Senior Housing in North NJ

Thursday, June 1, 2023

HUD Subsidized Senior Housing

First Montclair House is a lovely 131-unit apartment building that provides HUD subsidized senior housing in Essex County, NJ.

First Montclair House | HUD Subsided Senior Housing

Many adults save up for a house when they retire, but not many can afford this investment. In fact, most seniors today live on incomes provided by social security, which may not be enough to cover their housing expenses. For low-income seniors, the good news is that you can now get affordable housing options by applying for the HUD Subsided Senior Housing.

What is HUD Subsidized Senior Housing?

HUD Subsidized Senior Housing is a residential housing scheme designed for seniors aged 62 and above with limited incomes. These residential communities are best for seniors with low income because they are financially supported by the U.S. Department of Housing and Urban Development (HUD), which lessens the rental fees to make living affordable for seniors.

Benefits of HUD Subsidized Senior Housing

The primary benefit of HUD Subsidized Senior Housing is that it is affordable. In this type of housing, the residents pay rent based on their income so that housing cost remains within their range budget. Yet, besides this obvious factor, there are other benefits to HUD Subsidized Senior Housing. They include:

1.       Security: These communities prioritize the safety and security of their residents. Like every other government-owned property, they typically have security features like gated entrances, surveillance systems, and emergency call systems, so that even if they have limited financial resources,  seniors can rest assured knowing they are safe.

2.       Socializing: As most adults age, they tend to keep to themselves since they lack the avenue to connect with their peers. HUD Subsidized Senior Housing communities give seniors the opportunity to socialize with their peers. They organize social activities and events that allow seniors to build friendships and combat social isolation.

3.       Improved Quality of Life: almost every Senior have one condition that limits their daily life. One of the best parts of living in a HUD Subsidized Senior Housing complex is that they have amenities such as fitness centers, community rooms, on-site laundry facilities, and transportation services that improve the quality of life for residents and make daily living more convenient.

Who is Eligible for HUD Subsidized Senior Housing?

Seniors aged 63 years and above qualifies for HUD Subsidized Senior Housing. On the other hand, your income matters a lot. Seniors with lower incomes have a higher chance of qualifying for subsidies. You can also become a HUD Subsidized Senior Housing resident if you are a U.S. citizen or have an eligible immigration status. More than that, the community you choose will do a background check on you to know your criminal history or if you have any history of misconduct.

Apply for HUD Subsidized Senior Housing Today

HUD Subsidized Senior Housing is a stress-free and affordable housing option for older adults with limited financial income. If you fall into this category, don't wait till the last minute to make your life easier. Find local HUD Subsidized Senior Housing communities near you, like the First Montclair House, and take advantage of a low-cost living space. 

To speak with a representative about availability of HUD subsidized senior housing in Essex County, NJ, call (973) 746-0895.

First Montclair House – your trusted HUD subsidized senior housing in Essex County, NJ.