In New Hampshire, housing stock is both limited and expensive, which creates challenges for the state's low-income residents, many of whom are older adults. A new housing initiative from the nonprofit Easterseals New Hampshire is helping to meet the need for affordable housing for seniors by providing a 65-unit apartment building that includes accessibility features and support staff for low monthly rent, Foster's Daily Democrat reports.
Easterseals built and manages the new apartment complex in Rochester, N.H., named Champlin Place, which provides a more affordable option for seniors who may be experiencing physical or health limitations but who don’t require full-time care.
The New Hampshire Housing Finance Authority says that less than 4% of the state’s housing units have a contract or are managed to ensure affordability — and about half of these are for seniors. The organization manages a number of these properties in Rochester, but demand far exceeds supply.
To qualify for a unit in the complex, people must make less than 60% of the area’s median annual income, or less than $51,780. A small number of units are reserved for people who make less than $30,000. The most expensive rent for the units is $1,400 with utilities, and some residents are paying rent in part with housing vouchers.
Advertisement
Related Stories
Housing Markets
5 Housing Markets That Would See a Huge Increase in Homeownership if Mortgage Rates Dropped
Spokane, Wash., would experience an 11.4% increase in affordability if rates dropped to 6%
Affordability
Survey Shows Buyers Have Homebuying Regrets
More than 80% of respondents have regrets about their home purchase and 50% of upcoming buyers would consider forgoing using an agent
Awards
4 Housing Affordability Organizations Awarded 2024 Ivory Prize
Ivory Innovations will provide $300,000 in total prize money to support winners’ initiatives