Low Income Apartments and Affordable Housing For Rent in Ridgely, TN

Discover affordable housing in Ridgely where there are 6+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Blue Ridge Apartments

210 S Main St, Ridgely, Tennessee 38080

Sun Valley Apartments

498 Riley Rd, Ridgely, Tennessee 38080

Camelot Manor

303 Dillard St, Ridgely, Tennessee 38080

Reelfoot Village Apartments

496 Maze Rd, Ridgely, Tennessee 38080

Ridgely Manor Apartments

500 Riley Rd, Ridgely, Tennessee 38080

Hickman Homes and Mayes Homes

217 Sands St, Ridgely, Tennessee 38080

The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Ridgely, Tennessee
$16.31/hour
$9.06 (+125%) more than Tennessee minimum wage and $9.06 (+125%) more than the Federal minimum wage.
Learn More About Ridgely, Tennessee Affordable Housing ↓

What HUD offices serve Ridgely, Tennessee?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV), Family Self-Sufficiency, Mainstream Voucher, Homeownership programs for Ridgely, Tennessee.

Go to the Tennessee Public Housing and Low-Income Apartments Waiting Lists page for openings near Ridgely.

How many renters live in Ridgely, Tennessee?

The City of Ridgely has 1,798 people living in 608 households.

There are 937 renters living in 344 renter households in this City. Renters make up 52.11 percent of the population living in Ridgely.

What is the rental market like in Ridgely, Tennessee?

There are an estimated 671 housing units in the Ridgely area. Of these, 376 units are rental homes, making up 56 percent of the housing market. For every renter household in Ridgely, Tennessee, there are 1 rental units.

What is the vacancy rate for rentals in Ridgely?

The rental vacancy rate in Ridgely is 9 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.

How many rental units are in Ridgely for each bedroom size?

Occupied Rental Units by Size in Ridgely
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
62 89 93 82 18
Occupied Rental Units by Size in Ridgely

A large number of apartments in Ridgely have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How many renter households in Ridgely are overburdened by housing costs?

Among renter households in this market, 22 percent have housing cost burden. Further, 10 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.

The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.

How Much Is Rent in Ridgely

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $690 to $1,209. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $690
One BR $694
Two BR $861
Three BR $1,118
Four BR $1,209
2024 Fair Market Rents in Ridgely, Tennessee

How many units are rented at Fair Market Rent (FMR) in Ridgely?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
Studio 4 6 percent
One BR 77 87 percent
Two BR 78 84 percent
Rental Units Below FMR in Ridgely, Tennessee

How many affordable rental units are in Ridgely?

There are a variety of federal affordable housing programs serving households in Ridgely, Tennessee including the following:

Federal Program Unit Count
Low Income Housing Tax Credit 68
Public Housing 97
Section 8 Project-Based Rental Assistance 45
USDA Section 515 Rural Rental Housing 72
Tracked Units by Federal Program in Ridgely, Tennessee

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Ridgely, Tennessee

Ridgely features 273 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Ridgely, Tennessee

There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Ridgely.

Housing Choice Vouchers in Ridgely, Tennessee

On average, Section 8 Housing Choice vouchers pay Ridgely landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Ridgely.

The maximum amount a voucher would pay on behalf of a low-income tenant in Ridgely, Tennessee for a two-bedroom apartment is between $775 and $947.

Sourced from federal housing data and AffordableHousingOnline.com research.