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Ridgeview Drive Apartments

1036 Ridgeview Dr, Madill, Oklahoma 73446

Ridgeview Drive Apartments Details

  • 44 bedroom units.
  • Section 8 Project-Based Rental Assistance
  • Low-Income Housing Tax Credit (LIHTC)
  • Section 515 Rural Rental Housing
  • Public Housing

Section 8 Project-Based Rental Assistance

Since this property has a Project-Based Section 8 contract with HUD, some or all of the rents at this community are based on tenant incomes. Section 8 Project-Based Rental Assistance tenants will make a monthly contribution toward rent equal to 30% of their adjusted income. There is a minimum tenant contribution of $25 for all rents at this property regardless of tenant income.

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

Section 515 Rural Rental Housing

This property has received funding in part through the Section 515 Rural Rental Housing (Section 515) program. Very low, low, and moderate income families, elderly persons, and persons with disabilities are eligible to live at this property. Persons or Families living in substandard housing have priority for tenancy.

Public Housing

Since this property is owned and managed by a Public Housing Authority, all of the rents at this property are based on tenant incomes. Tenants will make a monthly contribution toward rent equal to 30% of their adjusted income. A housing authority may establish a minimum rent of up to $50.

Madill HUD Rental Assistance Income Qualifications

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Madill but actual income limits may differ for units at Ridgeview Drive Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $12,760 $17,240 $21,720 $26,200 $30,680 $33,200 $35,500 $37,800
50% $20,050 $22,900 $25,750 $28,600 $30,900 $33,200 $35,500 $37,800
80% $32,050 $36,600 $41,200 $45,750 $49,450 $53,100 $56,750 $60,400

Madill Low-Income Housing Tax Credit Income Limits

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Madill but actual income limits may differ for units at Ridgeview Drive Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $20,050 $22,900 $25,750 $28,600 $30,900 $33,200 $35,500 $37,800
Low Income (60%) $24,060 $27,480 $30,900 $34,320 $37,080 $39,840 $42,600 $45,360

Ridgeview Drive Apartments is managed by Madill Housing Authority.