SUN VALLEY, Nev. (KOLO) – The Ridge at Sun Valley, an affordable housing community, currently has a 58 percent occupancy rate, with 76 percent of its units pre-leased, according to Maleah Schmidt, the development’s communications coordinator. This marks an increase from approximately 50 percent occupancy reported in early December, reflecting strong demand for affordable housing in the area.
Schmidt clarified that while 76 percent of units have applicants in the process of leasing, the 58 percent occupancy rate represents the number of residents currently living there. She noted that the property is steadily filling up due to the high demand for affordable housing.
The 195-unit community serves individuals and families earning 50 to 60 percent of the area median income. Nevada State Treasurer Zach Conine highlighted that rents are kept below 30 percent of a renter’s income, ensuring residents have funds left for essentials like groceries and medicine…