AffordableHousingOnline

River Vale Senior Residence

426 Cedar Ln, River Vale, New Jersey 07675

49 new one-bedroom units
ADA accessible and 100% adaptable
Two elevators and on-site laundry room
All apartments are subsidized through Section 202 Program of the U.S. Department of Housing and Urban Development (HUD)
Rent is calculated at 30% of adjusted gross annual income
Applications are not available at this time

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

Eligibility for River Vale Senior Residence

River Vale Senior Residence Details

  • 50 one bedroom units.
  • Low-Income Housing Tax Credit (LIHTC)
  • Section 202 Supportive Housing for the Elderly

Property Amenities

  • Elevator
  • Laundry Room
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 202 Supportive Housing for the Elderly

Since this property was built or renovated using funding from HUD's Section 202 Supportive Housing for the Elderly program, residency is usually restricted to households earning 50% of the Area Median Income (AMI) or less with at least one member age 62 years or older. Tenants pay rent based on household income. This rent is usually the highest of the following three amounts: either 30% adjusted monthly income, or 10% unadjusted monthly income, or, if receiving welfare assistance, the housing costs portion of this assistance.

Images of River Vale Senior Residence
Image of River Vale Senior Residence