55+ Vs 62+ Housing – What’s The Difference

There is a lot more to 55+ housing verses 62+ housing than just seven years! In this video, McKee explains some of the differences!

Do you know the difference between 55+ housing and 62+ housing? It’s a lot more than just seven years! 

55+ vs 62+ Housing

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There are Federal laws that prohibit age discrimination in housing, so how can some housing developments be age restricted? The Housing for Older Persons Act, HOPA, was created to allow an exception for housing specifically marketed to older people. It falls into two categories, 55+ housing and 62+ housing. 

Yes, there is more to it than just seven years! 

Let’s start with 55+ housing. These can be almost any kind of home: a single family residence, a duplex/triplex/quadplex, condos or apartments. 

55+ housing must comply with an 80/20 rule. At least 80% of the units must have at least one occupant 55 or older. Note I said occupant and not owner. Usually, you can buy a unit for a family member even if you are not 55. 

The remaining 20% of units may be occupied completely by people under 55. How does that work? Easily! If a couple has one person 55+ and the other person is under 55, they are still allowed to get a 55+ home. Remember, only one occupant must be 55+! Should something happen to the 55+ occupant, the younger occupant doesn’t have to move out right away. Depending on the community, they might be able to remain in the community indefinitely. 

A healthcare attendant or family member care provider is excluded from the 80/20 rule. 

Now, let’s talk about 62+ housing. Again, it can be any kind of home, but in the central DFW area, I have yet to find anything other than apartments. That could be related to the more strict rules for 62+ housing. 

In a 62+ community, all the residents must be at least 62. A 62+ community must publish, and adhere to, policies and procedures that demonstrate the intent to provide housing for persons 62 years old or older. Resident’s ages must be verified through reliable surveys or affidavits. 

The exception is a healthcare worker or family member care provider, but they must be documented caregivers. 

A question I get often on both kinds of families is – can my grandkids come stay with me for a few days? Almost always, the answer is yes. But, different communities have different rules for this. There is always a limited number of days and often they visitors are limited on their use of amenities like pools and exercise rooms. 

I’ve been a little surprised at the number of people considering age restricted communities that really like these rules because they prevent resident’s adult children moving back in with them. You don’t have to say no. You just have to say I’m sorry, but it’s agains the community rules. 

If you want more information on age restricted communities in the central DFW area, just follow this link to schedule a consultation. I’d love to answer any questions. If I don’t know the answer, I can find who does know it! 

McKee Smith, REALTOR®, has been helping people like you sell and buy homes in the DFW area for many years. He is very knowledgeable about the housing market in Dallas and Fort Worth. He works out of his home in Coppell, Texas. He is a Senior Real Estate Specialist® (SRES®) and new home construction buyer representation certified.  Remember – McKee has the keys to selling your home!

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