About This Property
The Waters at Magnolia Bay offers 240 low-income residential units in Lincolnville, South Carolina, serving families with a mix of one-, two-, and three-bedroom floor plans. This property has been in service since 2017 and receives funding through HOME and 4% Low-Income Housing Tax Credits. The development contains 60 one-bedroom units, 124 two-bedroom units, and 60 three-bedroom units.
Property Details
Fair Market Rent - Charleston County, SC
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $1,386 |
| 1 Bedroom | $1,424 |
| 2 Bedroom | $1,599 |
| 3 Bedroom | $1,979 |
| 4 Bedroom | $2,402 |
Income Limits - Charleston County, SC
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $17,300
- Very Low (50%)
- $28,750
- Low (80%)
- $46,000
- Extremely Low (30%)
- $19,750
- Very Low (50%)
- $32,850
- Low (80%)
- $52,600
- Extremely Low (30%)
- $22,200
- Very Low (50%)
- $36,950
- Low (80%)
- $59,150
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $41,050
- Low (80%)
- $65,700
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $44,350
- Low (80%)
- $71,000
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $47,650
- Low (80%)
- $76,250
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $50,950
- Low (80%)
- $81,500
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $54,200
- Low (80%)
- $86,750
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $17,300 | $28,750 | $46,000 |
| 2 Persons | $19,750 | $32,850 | $52,600 |
| 3 Persons | $22,200 | $36,950 | $59,150 |
| 4 Persons | $26,500 | $41,050 | $65,700 |
| 5 Persons | $31,040 | $44,350 | $71,000 |
| 6 Persons | $35,580 | $47,650 | $76,250 |
| 7 Persons | $40,120 | $50,950 | $81,500 |
| 8 Persons | $44,660 | $54,200 | $86,750 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Summerville, SC?+
The Fair Market Rent (FMR) for Charleston County, SC is: $1386 (Studio), $1424 (1BR), $1599 (2BR), $1979 (3BR), $2402 (4BR). Actual rent at subsidized properties like The Waters At Magnolia Bay M15-Sg450998 is typically 30% of household income or less.
What size apartments are available at The Waters At Magnolia Bay M15-Sg450998?+
The Waters At Magnolia Bay M15-Sg450998 offers the following unit types: 60 One-Bedroom, 124 Two-Bedroom, 60 Three-Bedroom units, for a total of 240 units.
What is the price range for apartments in Summerville, SC?+
Based on Fair Market Rent for Charleston County, the estimated price range is: 1-bedroom: $1424, 2-bedroom: $1599, 3-bedroom: $1979. Actual rent at The Waters At Magnolia Bay M15-Sg450998 may be lower for income-eligible households.
How do I apply for housing at The Waters At Magnolia Bay M15-Sg450998?+
The Waters At Magnolia Bay M15-Sg450998 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 The Waters At Magnolia Bay M15-Sg450998?+
The Waters At Magnolia Bay M15-Sg450998 is managed by . You can reach them at . Visit their website for more information.
What are the income limits for affordable housing in Charleston County, SC?+
For a 4-person household in Charleston County, SC, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $41,050, Low Income (80% AMI): $65,700. These limits are set by HUD and updated annually.
Who is eligible to live at The Waters At Magnolia Bay M15-Sg450998?+
The Waters At Magnolia Bay M15-Sg450998 primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Contact Information
Walk Score
Almost All Errands Require a Car
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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