The Basics of 55+ Older Communities

The Basics of 55+ Communities

As you get older, you may start to think about where you want to live in retirement. If you’re looking for a safe, convenient, and affordable place to live, a 55+ community may be a good option for you.

Here are some of the basics of 55+ communities

• Age restrictions: 55+ communities are designed for adults who are 55 years of age or older. There are some exceptions to this rule, such as communities that allow younger adults to live with their parents or grandparents.
• Amenities and services: 55+ communities often offer a variety of amenities and services that are tailored to the needs of older adults. These amenities and services can include:
  • Fitness centers
  • Pool
  • Clubhouse
  • Transportation
  • Meal delivery
  • On-site healthcare
• Cost: The cost of living in a 55+ community can vary depending on the location, amenities, and services offered. However, 55+ communities can often be more affordable than other types of housing, such as independent living or assisted living.

Benefits of Living in a 55+ Community

There are many benefits to living in a 55+ community, including:

• A sense of community: 55+ communities often have a strong sense of community. This is because residents are all of a similar age and stage of life, and they often share similar interests. This can lead to a strong sense of belonging and support.
• Affordability: 55+ communities can be more affordable than other types of communities. This is because they are often designed for people who are on a fixed income.
• Amenities and services: 55+ communities often have amenities and services that are not available in other types of communities. These amenities and services can make it easier for older adults to live independently and safely.

How to Choose a 55+ Community

If you are considering moving to a 55+ community, there are a few things you should keep in mind:

• Location: Consider the location of the community. Is it close to family and friends? Is it close to amenities and services that you need?
• Amenities and services: Make a list of the amenities and services that are important to you. Make sure the community you choose has these amenities and services.
• Cost: Consider the cost of the community. Make sure you can afford the monthly fees and any other expenses associated with living in the community.

Choosing the Right 55+ Community for You

When choosing a 55+ community, it is important to consider your individual needs and preferences. Some factors to consider include:

• Your budget: 55+ communities can vary in price, so it is important to find one that fits your budget.
• Your desired location: Do you want to live in a city, suburb, or rural area?
• Your desired amenities and services: What amenities and services are important to you? Do you want a community with a pool, fitness center, clubhouse, transportation, meal delivery, or on-site healthcare?
• Your desired lifestyle: Do you want to be surrounded by people your age? Do you want to be active and involved in the community? Or do you prefer a more low-key lifestyle?

Once you have considered these factors, you can start to narrow down your choices. There are many great 55+ communities available, so you are sure to find one that is perfect for you.

55+ Community Living: A Growing Trend

The number of people living in 55+ communities is growing rapidly. According to the National Association of Home Builders, the number of 55+ households is expected to grow by 40% between 2018 and 2025. This growth is due to a number of factors, including the aging population, the increasing cost of housing, and the desire for a more active and social lifestyle.

If you are considering moving to a 55+ community, you are not alone. More and more people are choosing this option as a way to live a fulfilling and independent retirement.

HUD Requirements for 55+ Older Communities

The U.S. Department of Housing and Urban Development (HUD) has a number of requirements that 55+ older communities must meet in order to qualify for HUD funding. These requirements include:

• Must be intended and operated for occupancy by persons 55 years of age or older: The community must be designed and operated for the purpose of providing housing for people who are 55 years of age or older.
• At least 80% of the occupied units must be occupied by at least one person 55 years of age or older: At least 80% of the units in the community must be occupied by people who are 55 years of age or older.
• The facility or community publishes and adheres to policies and procedures that demonstrate its intent to in fact be a provider of housing for older persons: The community must have policies and procedures in place that demonstrate that it is a provider of housing for older persons.
• The facility or community complies with rules established by the U.S. Department of Housing and Urban Development (HUD) for verification of occupancy: The community must comply with HUD’s rules for verifying that the units in the community are occupied by people who are 55 years of age or older.

Communities that meet these requirements are eligible for HUD funding. HUD funding can be used to help finance the construction or renovation of 55+ communities, as well as to provide rental assistance to residents of 55+ communities.

Here are some additional things to keep in mind about HUD requirements for 55+ older communities:

• The requirements may change over time. It is important to check with HUD for the most up-to-date requirements.
• The requirements may vary depending on the type of community. For example, independent living communities have different requirements than assisted living communities.
• The requirements may be enforced differently by different HUD offices. It is important to check with the local HUD office for more information.

If you are considering moving to a 55+ community, it is important to check with the community to see if it meets HUD requirements. If the community does not meet HUD requirements, you may not be able to qualify for HUD funding, which could make it more difficult to afford to live in the community.

Resources

Questions and Answers
Concerning the Final Rule Implementing
the Housing for Older Persons Act of 1995 (HOPA)

HOUSING FOR OLDER PERSONS ACT OF 1995