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 |
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.
Who manages Magnolia Properties?+
Magnolia Properties is managed by . You can reach them at . Visit their website for more information.
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.
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.
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.