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Best fit
Seniors
Rent
Contact for pricing
Floor plans
1 Bed • 2 Bed
Total Units
24
Year Built / Opened
1992
Waitlist expected. Click Check Eligibility below to generate your ready-to-print application materials so you're first in line.
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This property includes LIHTC tax credit · 60% AMGI AMI. Rent rules can change by unit, so ask the office which program applies to the apartment you want.
LIHTC: These are income-based apartments with rent limits tied to the local Area Median Income (AMI) — not market-rate rent. Rent limits are set from the local AMI. If this property also has rental assistance, some tenants may pay about 30% of adjusted income.
Not explicitly confirmed. Call ahead to verify elevator availability and doorway widths before applying.
Rent-Restricted Units
24 of 24 total
income-restricted tax credit apartments
Pine ridge apts is a Low Income Housing Tax Credit (LIHTC) apartment community in Walnut Cove, North Carolina. LIHTC properties — also called Section 42 housing or tax credit apartments — are income-restricted rentals developed with federal tax credits administered by state Housing Finance Agencies (HFAs). Qualifying residents pay rent based on a percentage of the Area Median Income (AMI) for Walnut Cove. These properties are among the most affordable apartments available without a Section 8 voucher.
To qualify, your total household income must fall at or below the income limit set for this property — currently 60% AMGI of AMI. Unlike public housing, LIHTC income-restricted apartments are privately managed and require you to apply directly to the property. Rent is fixed at a discounted rate tied to AMI — not to your specific income — so your monthly payment stays predictable.
By law, LIHTC properties must remain rent-restricted for a minimum of 30 years. Pine ridge apts was placed in service around 1992, keeping rents income-restricted at least through ~1992.
You must be of qualifying age. Your income must fall within HUD's Area Median Income (AMI) limits for Walnut Cove.
This listing shows historically available units. Ask directly if a unit is open today.
If you use a wheelchair or walker, confirm elevator access and doorway widths before submitting a paid application.
Did you know?LIHTC properties have specific maximum rent limits based on your income and the local Area Median Income (AMI). Read the full guide
This record reports: 1 Bed • 2 Bed. Availability can change rapidly, so ask management which layouts are currently open and whether any accessible units are available.
Pine ridge apts is a Low Income Housing Tax Credit (LIHTC) property. HFA records indicate the income ceiling is set at 60% AMGI. This means your household income must be at or below that percentage of the Area Median Income (AMI) for walnut cove. The exact dollar threshold depends on your household size. Management will verify income during the application process.
To view the specific income caps (e.g. 30%, 50%, or 60% AMI limits) for all household sizes, check out the .
Rental Assistance
Federal
Qualifying tenants may pay ~30% of income
Rent-Restricted Until
~1992
Minimum 30-year LIHTC legal commitment
Income Limit
60% AMGI
Your household income must be at or below this % of Area Median Income
Designated For
Elderly
May have preference policies — confirm with management
LIHTC compliance period may have ended
Reason recorded: 1. Call management to confirm whether income restrictions and subsidized rents are still in effect.
Our eligibility tool automatically cross-references your household size and gross income with the local AMI database for this property to determine your fit.
LIHTC properties are required by law to remain affordable for a minimum of 30 years from the date they were placed in service (Pine ridge apts was placed in service around 1992, so rent restrictions are secured at least until ~2022). After that period, the owner can choose to exit the program or renew. Ask management about the property's current compliance end date.
Yes. HFA records show this property has federal project-based rental assistance. This means qualifying tenants may pay as little as 30% of their adjusted monthly income toward rent, with the assistance contract covering the remainder. Confirm with management which units carry the rental assistance and whether any are currently available.
Yes. HFA records classify this as a new construction LIHTC property, meaning units were purpose-built as affordable housing rather than converted from existing stock. New construction properties often feature modern layouts and energy-efficient systems. It's worth asking management about the age of appliances and any known maintenance issues before applying.
According to HFA records, this LIHTC property is specifically designated to serve elderly residents. This means it may have specialized services, accessible units, or preference policies that prioritize these groups. Contact management to understand their current preference and waitlist selection process — being in a designated group does not guarantee priority without a formal application.
HUD records indicate this property may no longer be actively monitored under the LIHTC compliance program (reason: 1). This does not necessarily mean it is market-rate — some properties voluntarily maintain affordability after the compliance period ends. Call management directly to confirm the current rent structure and any remaining income restrictions.
Data Provenance
Sourced from LIHTC Database. Last updated: Jul 11, 2026.Read our methodology.
