Affordable Housing In Ripley County
Indiana

8 Low Income Apartment Communities In Ripley County

Buckeye Village

830 S Buckeye St
Osgood, IN
Call For Rent
Studio-2 BR
HCV Welcome

Tyson School Apartments

100 S High St
Versailles, IN
$491-539
1-2 BR
HCV Welcome

Country Wood Apartments

745 Ashwood Drive
Versailles, IN
Income Based
1-4 BR
Subsidized

Country Place Osgood

744 Shook Street
Osgood, IN

Gaslight Square Apartments

319 Gaslight Dr
Versailles, IN
Subsidized

442 South Tanglewood Road

442 S Tanglewood Rd
Versailles, IN
HCV Welcome

438 Tanglewood Road

438 S Tanglewood Rd
Versailles, IN
HCV Welcome

100 North High Street

100 North High St
Versailles, IN
HCV Welcome
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Housing Authorities that serve Ripley County

Housing Authority Programs
Southeastern Indiana Economic Opportunity Corporation Section 8 Housing Choice Voucher (HCV); Family Self-Sufficiency

Guide To Affordable Housing in Ripley County, Indiana

There are 8 low income housing apartment communities offering 218 affordable apartments for rent in Ripley County, Indiana. Ripley County features 80 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 114 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Ripley County.

Sourced from federal housing data and AffordableHousingOnline.com research.

Ripley County, IN Affordable Housing Snapshot

Total Affordable Apartment Properties 8
Total Low Income Apartments 218
Total Housing Units with Rental Assistance 80
Percentage of Housing Units Occupied By Renters 22.75%
Average Renter Household Size 2.22
Average Household Size 2.58
Median Household Income $51,170 ±$1,792
Median Rent $678 ±$35
Percentage Of Renters Overburdened 35.31% ± 6.33pp
Total Population 28,612

Population and Household Demographics

Ripley County is a County in Indiana with a population of 28,612. There are 10,921 households in the county with an average household size of 2.58 persons. 22.75% of households in Ripley County are renters.

Income and Rent Overburden in Ripley County

The median gross income for households in Ripley County is $51,170 a year, or $4,264 a month. The median rent for the county is $678 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Ripley County, a household making less than $2,260 a month would be considered overburdened when renting an apartment at or above the median rent. 35.31% of households who rent are overburdened in Ripley County.1

Area Median Income In Ripley County

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

In Ripley County, HUD calculates the Area Median Income for a family of four as $64,500

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Ripley County

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for Ripley County HUD Rental Assistance in Ripley County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $13,550 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $42,600
50% of Median $22,600 $25,800 $29,050 $32,250 $34,850 $37,450 $40,000 $42,600
80% of Median $36,150 $41,300 $46,450 $51,600 $55,750 $59,900 $64,000 $68,150
Low Income Housing Tax Credits in Ripley County

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1987 to 2004, 2 low income apartment communities containing 60 rental apartments have been constructed and made affordable to low income persons in Ripley County by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Ripley County

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $22,600 $25,800 $29,050 $32,250 $34,850 $37,450 $40,000 $42,600
60% of Median $27,120 $30,960 $34,860 $38,700 $41,820 $44,940 $48,000 $51,120

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Ripley County is $34,860 a year, or $2,905 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,905 by 30% to get a maximum rent of $872 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $565 $605 $726 $839 $936 $1,033
60% $678 $726 $872 $1,007 $1,124 $1,239
Fair Market Rents in Ripley County

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$471 $575 $714 $938 $1,017

Cities In Ripley County

Select A City to View its Apartment Communities and Waiting Lists.

City Listings Served By
Versailles 6 The HUD funded Public Housing Agency that serves Versailles is the Southeastern Indiana Economic Opportunity Corporation.
Osgood 2 The HUD funded Public Housing Agency that serves Osgood is the Southeastern Indiana Economic Opportunity Corporation.
Milan 0 The HUD funded Public Housing Agency that serves Milan is the Southeastern Indiana Economic Opportunity Corporation.
Sunman 0 The HUD funded Public Housing Agency that serves Sunman is the Southeastern Indiana Economic Opportunity Corporation.
Holton 0 The HUD funded Public Housing Agency that serves Holton is the Southeastern Indiana Economic Opportunity Corporation.
Napoleon 0 The HUD funded Public Housing Agency that serves Napoleon is the Southeastern Indiana Economic Opportunity Corporation.