About This Property
Terrace Ridge Apts offers 167 low-income units in Troy, Ohio, with a mix of 50 studios, 80 one-bedroom, and 37 two-bedroom apartments. The property was placed in service in 1997 and utilizes 4% Low-Income Housing Tax Credit financing along with tax-exempt bonds. This affordable housing community serves residents in Miami County.
Waitlist Information
Waitlist managed by Miami Metropolitan Housing Authority
Morris House has an estimated 2-year wait. Family units (Washington Commons and Floral View) have a closed 1-bedroom waiting list, an estimated 18-month wait for 2-bedroom units, and an estimated 3+ year wait for 3-4 bedroom units. As vacancies become available, the waitlist average may change.
Current applicants on the waiting list will retain their position for the selection process.
Waitlist data provided by section8waitlist.org
Updated May 29, 2026
Property Details
Fair Market Rent - Miami County, OH
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $743 |
| 1 Bedroom | $800 |
| 2 Bedroom | $1,023 |
| 3 Bedroom | $1,330 |
| 4 Bedroom | $1,459 |
Income Limits - Miami County, OH
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $15,900
- Very Low (50%)
- $26,500
- Low (80%)
- $42,400
- Extremely Low (30%)
- $18,200
- Very Low (50%)
- $30,300
- Low (80%)
- $48,450
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $34,100
- Low (80%)
- $54,500
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $37,850
- Low (80%)
- $60,550
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $40,900
- Low (80%)
- $65,400
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $43,950
- Low (80%)
- $70,250
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $46,950
- Low (80%)
- $75,100
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $50,000
- Low (80%)
- $79,950
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $15,900 | $26,500 | $42,400 |
| 2 Persons | $18,200 | $30,300 | $48,450 |
| 3 Persons | $21,960 | $34,100 | $54,500 |
| 4 Persons | $26,500 | $37,850 | $60,550 |
| 5 Persons | $31,040 | $40,900 | $65,400 |
| 6 Persons | $35,580 | $43,950 | $70,250 |
| 7 Persons | $40,120 | $46,950 | $75,100 |
| 8 Persons | $44,660 | $50,000 | $79,950 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Troy, OH?+
The Fair Market Rent (FMR) for Miami County, OH is: $743 (Studio), $800 (1BR), $1023 (2BR), $1330 (3BR), $1459 (4BR). Actual rent at subsidized properties like Terrace Ridge Apts is typically 30% of household income or less.
What size apartments are available at Terrace Ridge Apts?+
Terrace Ridge Apts offers the following unit types: 50 Studio, 80 One-Bedroom, 37 Two-Bedroom units, for a total of 167 units.
Is there a waitlist for Terrace Ridge Apts?+
Public Housing waitlist is currently Open. Section 8 (HCV) waitlist is currently Closed. Waitlist status can change frequently, so check back regularly or contact the housing authority directly for the most up-to-date information.
Who manages Terrace Ridge Apts?+
Terrace Ridge Apts is managed by . You can reach them at . Visit their website for more information.
What are the income limits for affordable housing in Miami County, OH?+
For a 4-person household in Miami County, OH, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $37,850, Low Income (80% AMI): $60,550. These limits are set by HUD and updated annually.
What is the price range for apartments in Troy, OH?+
Based on Fair Market Rent for Miami County, the estimated price range is: 1-bedroom: $800, 2-bedroom: $1023. Actual rent at Terrace Ridge Apts may be lower for income-eligible households.
How do I apply for housing at Terrace Ridge Apts?+
Terrace Ridge Apts is a Low-Income Housing Tax Credit (LIHTC) property. To apply, you can start by calling , or visiting their website, 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.
Contact Information
Walk Score
Car-Dependent
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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