HUD Rent Subsidy

Funding from the Housing and Urban Development (HUD) allowed the Ardmore Village to be built and allows it continue to serve the elderly today. Because of this HUD funding, HUD regulations determine a person's eligibility for residency in the independent living portion of the Ardmore Village community. The amount of rent each resident pays is determined by his or her income. 

Eligibility for Cottage and Apartment Residency

To be eligible to live in Ardmore Village's cottages or apartments, a person (or at least one person in a couple) must be 62 years old or, if under 62, handicapped or disabled. That eligible person can not make more than $15,350 a year (or $1279.16 per month). This income limit is a little higher for a couple: $19,100 annually ($1462.50 per month). These eligibility figures are determined by HUD and are subject to change at any time.

Once the eligible resident moves into the Ardmore Village cottages or apartments, this financial limitation no longer applies. This means that residents may live in the cottages or apartments even if their future income increases.  The amount of rent each resident pays,hover, is determined by his or her income.

Rent for Cottages and Apartments

Each year HUD assigns the market rate for each cottage and apartment. If there was no rent subsidy, for instance, residents would pay rent equal to this market rate. However, because rent subsidy IS available, the amount of rent that a cottage or apartment resident pays is based on their income. The resident pays 30% of their adjusted income, which is their gross income minus their medical expenses.

For many residents, their only income is social security. Living solely on this limited income is extremely difficult. This rent subsidy from HUD allows moderate-income seniors to live in a nice home and in a comfortable, safe community that they might otherwise not be able to afford.