Valley Ridge Apartments

200 Village Dr W, New Albany, Indiana 47150

Contact Valley Ridge Apartments

Settle into casual charm in your new home at Valley Ridge Apartments. Timeless beauty and modern convenience, all at a price that makes us the greatest value in New Albany. We offer unbeatable customer service and our on-site management team is friendly, courteous, and professional. We invite you to come and see for yourself just what Valley Ridge has to offer.

Unit (Bd/Ba)	Ft²	Rent
1 Bedroom (1/1)	-	Call for Price
2 Bedroom (2/1)	-	Call for Price
3 Bedroom (3/1)	-	Call for Price

Eligibility for Valley Ridge Apartments

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 New Albany but actual income limits may differ for units at Valley Ridge Apartments.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person
30%	$18,850	$21,550	$24,860	$30,000	$35,140	$40,280
50%	$31,400	$35,900	$40,400	$44,850	$48,450	$52,050
80%	$50,250	$57,400	$64,600	$71,750	$77,500	$83,250

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 New Albany but actual income limits may differ for units at Valley Ridge Apartments.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person
Very Low Income (50%)	$31,400	$35,900	$40,400	$44,850	$48,450	$52,050
Low Income (60%)	$37,680	$43,080	$48,480	$53,820	$58,140	$62,460

Valley Ridge Apartments Details

156 one, two and three bedroom units.
Water and Sewer utilities included in rent
Heat utility included in rent
Section 8 Project-Based Rental Assistance (PBRA)
Low-Income Housing Tax Credit (LIHTC)
Section 221 (d) (3)
Section 236

Property Amenities

Playground
Community Room
24 Hour Maintenance
Laundry Facility

Unit Amenities

Ceiling Fan(s)
Central Air
Garbage Disposal
Cable Ready
Walk-in Closet(s)
Refrigerator
Mini Blinds & Curtain Rods
Electric Range

Nearby Amenities

Near Schools

Office Hours

Day	Hours
Monday	10:00am-5:00pm
Tuesday	10:00am-5:00pm
Thursday	10:00am-5:00pm
Friday	10:00am-5:00pm

Section 8 Project-Based Rental Assistance (PBRA)

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. Tenants leasing units participating in the Section 8 Project-Based Rental Assistance program typically contribute less than 30% of their adjusted income towards rental costs.

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 236

Apartment communities that participate in the Section 236 program are required to ensure that their units are only available to families with incomes at or below 80% of the area median income. Rents at participating communities must be approved by HUD.