1611 Royal Foxhound Ln, Raleigh, NC 27610
Waiting List Forecast: Likely Short or None
Verified for 2022 by Lorena Bentley| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $911 - 1,144 per Month† | 2 - 4 Beds | 2 - 3 Baths | 990 - 1,438 Sq Ft |
Since this property is a LIHTC property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.
Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.
Located in Raleigh, North Carolina, Walnut Ridge provides an exceptional lifestyle nestled in a residential neighborhood. This welcoming community provides homes that are cost-effective, comfortable and conveniently located to I-40, just minutes from downtown and is across the road from Walnut Creek Amphitheater which hosts concerts and events. The fabulous community amenities and open floor plan designs in addition to our superior customer service make Walnut Ridge the perfect choice for you in the heart of Raleigh. Walnut Ridge offers some of the largest floor plans in the Raleigh area, choose from 2, 3 or 4 bedroom apartment homes!
This LIHTC property is among the most common types of affordable rental housing in the United States. The LIHTC program only provides subsidies to the building’s owner at construction. No subsidies are provided directly to the residents, but the owner must set rents affordable to low-income renters in the area. Our data suggests Walnut Ridge does not participate in any project-based rent subsidy program. This means you must earn enough to pay the full rent or have your own Section 8 Housing Choice Voucher. For that reason, LIHTC properties tend to have shorter waiting lists or even none at all. LIHTC properties nationwide are required to accept housing vouchers. LIHTC properties were first built in the late 1980's. Because they tend to be newer, these properties are more likely to have larger units, more amenities, and greater tenant service offerings than other affordable housing programs. This property might be right for you if you have a housing voucher or enough income to pay rent, are looking for a high quality property, or need immediate availability. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers. Since the property also utilizes a FHA insured private mortgage, the property is subject to Federal physical condition requirements and REAC inspections. As a LIHTC property that chose the 40/60 election, this property has agreed to set aside at least 40% of its units for families and individuals earning 60% of Area Median Income (AMI). Many properties have actually set aside more units than required by law, and in many cases all of the units at these properties are affordable to renters with lower incomes.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| Two Bedrooms (2/2) | 990ft2 | $911† |
| Three Bedrooms (3/2) | 1167ft2 | $1,039† |
| Four Bedrooms (4/3) | 1438ft2 | $1,144† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people | 8 people |
|---|---|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $39,700 / year | $45,350 / year | $51,000 / year | $56,650 / year | $61,200 / year | $65,750 / year | $70,250 / year | $74,800 / year |
| 50% AMI for PBRA Units | $39,700 / year | $45,350 / year | $51,000 / year | $56,650 / year | $61,200 / year | $65,750 / year | $70,250 / year | $74,800 / year |
| 60% AMI for LIHTC Units | $47,640 / year | $54,420 / year | $61,200 / year | $67,980 / year | $73,440 / year | $78,900 / year | $84,300 / year | $89,760 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Walnut Ridge have a waiting list?
Walnut Ridge probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at Walnut Ridge?
We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.
What property management company manges Walnut Ridge?
Walnut Ridge is managed by WinnCompanies headquartered in Boston, Massachusetts.
In addition to Walnut Ridge, how many other affordable housing properties (and units) are there in Raleigh?
In addition to Walnut Ridge, we list 141 other affordable properties in Raleigh. Learn about these properties here. Our data research shows that there are a total of 8821 affordable units in Raleigh.
When was the Walnut Ridge listing last updated?
Walnut Ridge listing on Affordable Housing Online was last updated on 07/13/2022 by Lorena Bentley. Remember, a property's status can change so you should contact the property to confirm.
Know your rights as a Section 8 tenant.
Some states and local governments have laws that protect renters with a Section 8 voucher who are looking for an available unit. Check your local laws.Dale Brown says:
"Affordable Housing Online is a great website, I check it often to get my questions answered."