I’m over 60 and can’t afford housing: what are my options? (guide)

Many people over 60 face tight budgets, rising housing costs, and shrinking savings. If you’re asking "What can I do?" there are federal programs, local resources, and private strategies that can help. This guide walks through the realistic options, trade-offs, and immediate actions to take.

Your best choice depends on income, health, mobility, and how fast you need relief. Some options reduce monthly costs directly, others stabilize housing through legal help or community services. Read on to learn about public assistance, subsidized senior housing, shared living, tweaks to your current living arrangement, and how to organize your search.

Federal housing programs can reduce rent costs substantially. The Housing Choice Voucher program (commonly called Section 8) pays a portion of rent directly to a landlord, leaving tenants responsible for a small share based on income. Waitlists are common and vary widely by location. Contact your local public housing agency to learn about eligibility and current wait times.

Public housing offers income-based apartments managed by local housing authorities. These properties often prioritize seniors and people with disabilities. Another federal option is subsidized housing for older adults under programs specifically targeted to seniors, where rent is tied to income. Apply broadly and ask about preferences that might shorten wait times, such as age-based prioritization, disability status, or being involuntarily displaced.

There are housing models built for older adults with affordability and accessibility in mind. Below are common categories and what to expect from each:

• Section 202 Supportive Housing for the Elderly: subsidies that keep rent affordable and often include supportive services on-site.
• Low-Income Housing Tax Credit (LIHTC) properties: affordable apartments developed with tax credits; income limits apply.
• Nonprofit senior apartments: run by housing nonprofits or faith-based organizations, often with reduced rents and waiting lists.

Each type has different eligibility rules and application procedures. Visit local housing authorities, area agencies on aging, and nonprofit housing organizations to discover openings. Ask about on-site services such as meals, transportation, or care coordination—these can save money and reduce stress over time.

Sharing housing cuts costs and offers companionship. Shared living ranges from renting a spare room to formal roommate matches where older adults live with an approved caregiver or companion. Some models match older homeowners with younger tenants who pay reduced rent in exchange for help around the house.

Co-housing communities and boarding houses may offer private bedrooms with shared kitchens and communal areas, lowering rent and utilities. When considering shared or intergenerational living, screen potential housemates carefully and use written agreements to clarify rent, chores, privacy, and guest policies. Local aging services or organizations that arrange home-sharing can help with matching and background checks.

If you own a home but can’t afford expenses, there are several pathways, each with pros and cons. A reverse mortgage can provide monthly income or a line of credit without monthly loan payments, but it reduces home equity and can complicate estate plans. A home equity loan or line of credit provides cash but requires monthly payments.

Selling and downsizing is often the simplest way to free equity and lower ongoing costs. Consider renting out part of your home, like a basement apartment or single room, to generate steady income. If mobility or health is a concern, look into home modification grants or low-interest loans that fund ramps, grab bars, and other safety upgrades to keep you safely in place for longer.

Healthcare programs can influence housing choices. Medicaid’s Home and Community-Based Services (HCBS) help people receive care at home rather than in nursing facilities, which can preserve finances used for housing. If you’re a veteran, benefits from the Department of Veterans Affairs, such as grants for home adaptations or housing assistance programs, may be available.

Know your legal rights: fair housing laws protect against discrimination based on age, disability, and other protected characteristics. If you face eviction, local legal aid clinics often provide assistance and can negotiate with landlords or represent you in court. Also explore property tax relief programs and utility assistance to reduce monthly burden.

Start with a clear short-term plan and a longer-term strategy. Immediately, organize your finances: list income, monthly housing costs, and essential expenses. Contact your local public housing agency, area agency on aging, and community action agencies to ask about emergency rental assistance, placement on waitlists, and housing navigators who can help you apply. Gather documentation that housing programs commonly require: ID, income statements, Social Security award letters, and proof of age or disability.

Next, widen your options. Apply for vouchers and subsidized housing while exploring shared living, downsizing, or renting out space. If you own a home, get an honest market assessment and consult a financial counselor about equity options. Legal aid can help if eviction or housing discrimination is a threat. Above all, lean on community resources—senior centers, faith communities, and nonprofits often have less formal but immediate help such as short-term grants, food support, and connections to housing placements. Taking a few proactive steps now can open realistic options and restore a sense of control.