Sun Valley Apartments

498 Riley Rd, Ridgely, Tennessee 38080

Sun Valley Apartments, located at 498 Riley Rd in Ridgely, has one and two bedroom apartments. Sun Valley Apartments participates in the Section 515 Rural Rental Housing and Section 521 USDA Rental Assistance programs.

Contact Sun Valley Apartments

Message Sun Valley Apartments

Units

Unit (Bd/Ba) Ft2 Rent
1 Bedroom (1/1) - Call for Price
2 Bedroom (2/1) - Call for Price

Sun Valley Apartments Details

  • 24 one and two bedroom units.
  • Project-Based Rental Assistance
  • Senior (62+)

Property Amenities

  • Community Room
  • On-Site Manager
  • Laundry Room
  • On-Site Parking
  • On-Site Maintenance
  • On Site Security

Unit Amenities

  • Refrigerator
  • Central Heat & Air
  • Private Porch
  • Electric Range

Office Hours

Day Hours
Monday 8:00am-4:30pm
Tuesday 8:00am-4:30pm
Wednesday 8:00am-4:30pm
Thursday 8:00am-4:30pm
Friday 8:00am-4:30pm

About Sun Valley Apartments

Sun Valley Apartments are 1 and 2 bedroom senior units. The features and amenities include: Central Heat/Air, Community Room/Club House, Fire Stops, Laundry Room, On-Site Maintenance, On-Site Manager, Parking, Porch, Range/Hood, Refrigerator, Security, Single Story,  and Smoke Alarms

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.

Section 521 USDA Rental Assistance

The property participates in the USDA Rural Development Rental Assistance program. This rental subsidy, available only to USDA Section 514, 515 and 516 properties, ensures renters only pay 30% of their adjusted income towards rent. USDA Rural Development Rental Assistance may not be available for all units at this property.

Ridgely 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 Ridgely but actual income limits may differ for units at Sun Valley Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $12,490 $16,910 $21,330 $25,750 $28,350 $30,450 $32,550 $34,650
50% $18,400 $21,000 $23,650 $26,250 $28,350 $30,450 $32,550 $34,650
80% $29,400 $33,600 $37,800 $42,000 $45,400 $48,750 $52,100 $55,450

Ridgely 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 Ridgely but actual income limits may differ for units at Sun Valley Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $18,400 $21,000 $23,650 $26,250 $28,350 $30,450 $32,550 $34,650
Low Income (60%) $22,080 $25,200 $28,380 $31,500 $34,020 $36,540 $39,060 $41,580

These general income qualifications for Ridgely, Tennessee should only be used as a basic guide. To find out if you qualify, contact the community directly.

Sun Valley Apartments was built in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program and receives rental subsidies through HUD-Assisted Housing. These programs have different income limits that can lead to apartments in the same property having different income requirements.

You can make up to 80% of the Area Median Income (AMI) and be eligible for a HUD-Assisted Housing unit. However, you can earn at most 60% of AMI to be eligible for a LIHTC property and many units may be set aside for those with the lowest incomes (down to 15% of AMI). LIHTC properties may also contain some market rate units.

Since Sun Valley Apartments has both programs, the most restrictive of the income limits will apply for each unit. If the entire property is funded by LIHTC, the LIHTC income limit of 60% AMI would be used for all units. Apartments in properties with some units not funded by the LIHTC, but receiving Section 8 assistance, would be open to households making up to 80% AMI. Market rate units would have no subsidies or income restrictions.

Figuring out income and rent limits for affordable housing can be complex especially when more than one federal program is involved. To know for sure if you qualify, you must contact the property directly. The amounts provided here should only be used as a basic guide.

Sun Valley Apartments is managed by MACO Management Company.

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