2334 U.S. Hwy 19, Murphy, NC 28906
Waiting List Forecast: Likely Short or None
Verified for 2023 by Connor Bailey| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $520 - 780 per Month† | 1 - 3 Beds | 1 - 2 Baths | 806 - 1,213 Sq Ft |
This property is currently under construction.
Valley River Apartments are an upcoming affordable community offering one, two, and three bedroom units. Amenities will include a computer center, energy STAR appliances, on-site laundry facility, community room, and outdoor seating areas. The community is currently under construction and scheduled to open in Spring 2024.
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 Valley River Apartments 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.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bedroom (1/1) | 806ft2 | $520 $598† |
| Two Bedroom (2/2) | 1053ft2 | $624 $718† |
| Three Bedroom (3/2) | 1213ft2 | $687 $780† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $24,250 / year | $27,700 / year | $31,150 / year | $34,600 / year | $37,400 / year | $40,150 / year |
| 50% AMI for PBRA Units | $24,250 / year | $27,700 / year | $31,150 / year | $34,600 / year | $37,400 / year | $40,150 / year |
| 60% AMI for LIHTC Units | $29,100 / year | $33,240 / year | $37,380 / year | $41,520 / year | $44,880 / year | $48,180 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Valley River Apartments have a waiting list?
Valley River Apartments 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 Valley River Apartments?
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 Valley River Apartments?
Valley River Apartments is managed by United Property Management headquartered in Raleigh, NC.
In addition to Valley River Apartments, how many other affordable housing properties (and units) are there in Murphy?
In addition to Valley River Apartments, we list 5 other affordable properties in Murphy. Learn about these properties here. Our data research shows that there are a total of 223 affordable units in Murphy.
When was the Valley River Apartments listing last updated?
Valley River Apartments listing on Affordable Housing Online was last updated on 04/20/2023 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
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