About This Property
Timber Ridge offers 50 low-income units in Spindale, NC, serving elderly residents. The property includes 26 one-bedroom and 24 two-bedroom apartments and has been in service since 2014. The community is funded through 9% Low-Income Housing Tax Credits.
Property Details
Fair Market Rent - Rutherford County, NC
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $733 |
| 1 Bedroom | $737 |
| 2 Bedroom | $856 |
| 3 Bedroom | $1,117 |
| 4 Bedroom | $1,367 |
Income Limits - Rutherford County, NC
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $12,880
- Very Low (50%)
- $20,500
- Low (80%)
- $32,800
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $23,400
- Low (80%)
- $37,450
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $26,350
- Low (80%)
- $42,150
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $29,250
- Low (80%)
- $46,800
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $31,600
- Low (80%)
- $50,550
- Extremely Low (30%)
- $33,950
- Very Low (50%)
- $33,950
- Low (80%)
- $54,300
- Extremely Low (30%)
- $36,300
- Very Low (50%)
- $36,300
- Low (80%)
- $58,050
- Extremely Low (30%)
- $38,650
- Very Low (50%)
- $38,650
- Low (80%)
- $61,800
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $12,880 | $20,500 | $32,800 |
| 2 Persons | $17,420 | $23,400 | $37,450 |
| 3 Persons | $21,960 | $26,350 | $42,150 |
| 4 Persons | $26,500 | $29,250 | $46,800 |
| 5 Persons | $31,040 | $31,600 | $50,550 |
| 6 Persons | $33,950 | $33,950 | $54,300 |
| 7 Persons | $36,300 | $36,300 | $58,050 |
| 8 Persons | $38,650 | $38,650 | $61,800 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Spindale, NC?+
The Fair Market Rent (FMR) for Rutherford County, NC is: $733 (Studio), $737 (1BR), $856 (2BR), $1117 (3BR), $1367 (4BR). Actual rent at subsidized properties like Timber Ridge is typically 30% of household income or less.
What size apartments are available at Timber Ridge?+
Timber Ridge offers the following unit types: 26 One-Bedroom, 24 Two-Bedroom units, for a total of 50 units.
How do I apply for housing at Timber Ridge?+
Timber Ridge is a Low-Income Housing Tax Credit (LIHTC) property. To apply, you can start by calling , or contacting the property management office. Contact the property to learn about availability and application requirements. Eligibility is based on income limits set for the area.
Who manages Timber Ridge?+
Timber Ridge is managed by . You can reach them at .
What are the income limits for affordable housing in Rutherford County, NC?+
For a 4-person household in Rutherford County, NC, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $29,250, Low Income (80% AMI): $46,800. These limits are set by HUD and updated annually.
What is the price range for apartments in Spindale, NC?+
Based on Fair Market Rent for Rutherford County, the estimated price range is: 1-bedroom: $737, 2-bedroom: $856. Actual rent at Timber Ridge may be lower for income-eligible households.
Who is eligible to live at Timber Ridge?+
Timber Ridge primarily serves elderly residents. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Walk Score
Almost All Errands Require a Car
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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