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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Legal
Satisfied Customers: 41221
Experience:  Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.
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How much money can a Maryland resident, living on Social Security,

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How much money can a Maryland resident, living on Social Security, have in the bank and still qualify for housing assistance?

Thank you for your question. Please permit me to assist you with your concerns.

In Maryland, there is no specific number because the number differs on where the applicant is located. What determines eligibility is if the income of the assisted household is under 30% of the statewide or area median income, whichever is higher. Savings are likewise placed toward 'income', so if the savings and the Social Security are above that threshold, assistance would not be provided. To figure out what your median income would be, you would need to contact the agency as they would have those numbers. The last figures I have are from around 2011, which showed median household income at about $72,000.

Hope that helps.

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