About This Property
Magnolia Properties contains 40 low-income units in Newton, IL and has been in service since 2011. The property offers a mix of 23 studio units and 17 one-bedroom units. Inquiries about availability can be directed to the property management.
Property Details
Fair Market Rent - Jasper County, IL
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $553 |
| 1 Bedroom | $631 |
| 2 Bedroom | $807 |
| 3 Bedroom | $976 |
| 4 Bedroom | $1,126 |
Income Limits - Jasper County, IL
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $14,350
- Very Low (50%)
- $23,950
- Low (80%)
- $38,300
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $27,350
- Low (80%)
- $43,750
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $30,750
- Low (80%)
- $49,200
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $34,150
- Low (80%)
- $54,650
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $36,900
- Low (80%)
- $59,050
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $39,650
- Low (80%)
- $63,400
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $42,350
- Low (80%)
- $67,800
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $45,100
- Low (80%)
- $72,150
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $14,350 | $23,950 | $38,300 |
| 2 Persons | $17,420 | $27,350 | $43,750 |
| 3 Persons | $21,960 | $30,750 | $49,200 |
| 4 Persons | $26,500 | $34,150 | $54,650 |
| 5 Persons | $31,040 | $36,900 | $59,050 |
| 6 Persons | $35,580 | $39,650 | $63,400 |
| 7 Persons | $40,120 | $42,350 | $67,800 |
| 8 Persons | $44,660 | $45,100 | $72,150 |
Advertisement
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Newton, IL?+
The Fair Market Rent (FMR) for Jasper County, IL is: $553 (Studio), $631 (1BR), $807 (2BR), $976 (3BR), $1126 (4BR). Actual rent at subsidized properties like Magnolia Properties is typically 30% of household income or less.
What size apartments are available at Magnolia Properties?+
Magnolia Properties offers the following unit types: 23 Studio, 17 One-Bedroom units, for a total of 40 units.
How do I apply for housing at Magnolia Properties?+
Magnolia Properties 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.
Who manages Magnolia Properties?+
Magnolia Properties is managed by . You can reach them at . Visit their website for more information.
What is the price range for apartments in Newton, IL?+
Based on Fair Market Rent for Jasper County, the estimated price range is: 1-bedroom: $631. Actual rent at Magnolia Properties may be lower for income-eligible households.
What are the income limits for affordable housing in Jasper County, IL?+
For a 4-person household in Jasper County, IL, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $34,150, Low Income (80% AMI): $54,650. These limits are set by HUD and updated annually.