About This Property
Sunvalley Apts comprises 24 low-income rental units in Ridgely, TN, consisting of twenty 1-bedroom and four 2-bedroom apartments. The property has been in service since 1992 and is funded through 4% Low-Income Housing Tax Credits. A non-profit entity owns and operates the community.
Property Details
Fair Market Rent - Lake County, TN
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $690 |
| 1 Bedroom | $694 |
| 2 Bedroom | $861 |
| 3 Bedroom | $1,118 |
| 4 Bedroom | $1,209 |
Income Limits - Lake County, TN
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $12,880
- Very Low (50%)
- $19,750
- Low (80%)
- $31,600
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $22,600
- Low (80%)
- $36,100
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $25,400
- Low (80%)
- $40,600
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $28,200
- Low (80%)
- $45,100
- Extremely Low (30%)
- $30,500
- Very Low (50%)
- $30,500
- Low (80%)
- $48,750
- Extremely Low (30%)
- $32,750
- Very Low (50%)
- $32,750
- Low (80%)
- $52,350
- Extremely Low (30%)
- $35,000
- Very Low (50%)
- $35,000
- Low (80%)
- $55,950
- Extremely Low (30%)
- $37,250
- Very Low (50%)
- $37,250
- Low (80%)
- $59,550
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $12,880 | $19,750 | $31,600 |
| 2 Persons | $17,420 | $22,600 | $36,100 |
| 3 Persons | $21,960 | $25,400 | $40,600 |
| 4 Persons | $26,500 | $28,200 | $45,100 |
| 5 Persons | $30,500 | $30,500 | $48,750 |
| 6 Persons | $32,750 | $32,750 | $52,350 |
| 7 Persons | $35,000 | $35,000 | $55,950 |
| 8 Persons | $37,250 | $37,250 | $59,550 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Ridgely, TN?+
The Fair Market Rent (FMR) for Lake County, TN is: $690 (Studio), $694 (1BR), $861 (2BR), $1118 (3BR), $1209 (4BR). Actual rent at subsidized properties like Sunvalley Apts is typically 30% of household income or less.
What size apartments are available at Sunvalley Apts?+
Sunvalley Apts offers the following unit types: 20 One-Bedroom, 4 Two-Bedroom units, for a total of 24 units.
What are the income limits for affordable housing in Lake County, TN?+
For a 4-person household in Lake County, TN, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $28,200, Low Income (80% AMI): $45,100. These limits are set by HUD and updated annually.
What is the price range for apartments in Ridgely, TN?+
Based on Fair Market Rent for Lake County, the estimated price range is: 1-bedroom: $694, 2-bedroom: $861. Actual rent at Sunvalley Apts may be lower for income-eligible households.
Who manages Sunvalley Apts?+
Sunvalley Apts is managed by . You can reach them at . Visit their website for more information.
How do I apply for housing at Sunvalley Apts?+
Sunvalley 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.
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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