Affordable Housing In Magnolia
Columbia County, Arkansas

7 Low Income Apartment Communities In Magnolia

Pine Valley Apartments

100 Sherwood Dr
Magnolia, AR
Subsidized

Ralph Weiser Independent Living Center

1320 E North St
Magnolia, AR
62+
Accessible
Elderly Supportive Housing
Subsidized

Jay Johnston Group Living Center

816 W Main St
Magnolia, AR
62+
Accessible
Elderly Supportive Housing
Subsidized

Pine Valley

205 S Verda
Magnolia, AR

St Charles Apartments

601 Ruth
Magnolia, AR
Subsidized

Westwood Village

1032 Mullins
Magnolia, AR
Subsidized

Ridge at Magnolia

1640 E Main St
Magnolia, AR
HCV Welcome
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Housing Authorities that serve Magnolia

Housing Authority Programs
Magnolia Housing Authority Public Housing
City of Magnolia (AAA) Section 8 Housing Choice Voucher (HCV)

Other Housing Authorities located in Magnolia

Housing Authority Programs
Howard County Public Housing Agency (AAA) Section 8 Housing Choice Voucher (HCV)

Guide To Affordable Housing in Magnolia, Arkansas

According to federal housing data and AffordableHousingOnline.com research, there are 7 low income housing apartment communities offering 461 affordable apartments for rent in Magnolia, Arkansas. Magnolia features 397 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 64 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Magnolia.

Magnolia, AR Affordable Housing Snapshot

Total Affordable Apartment Properties 7
Total Low Income Apartments 461
Total Housing Units with Rental Assistance 397
Percentage of Housing Units Occupied By Renters 48.52%
Average Renter Household Size 2.16
Average Household Size 2.35
Median Household Income $34,163 ±$3,277
Median Rent $626 ±$45
Percentage Of Renters Overburdened 42.44% ± 8.84pp
Total Population 11,690

Population and Household Demographics

Magnolia is a City in Columbia County, Arkansas with a population of 11,690. There are 4,332 households in the city with an average household size of 2.35 persons. 48.52% of households in Magnolia are renters.

Income and Rent Overburden in Magnolia

The median gross income for households in Magnolia is $34,163 a year, or $2,847 a month. The median rent for the city is $626 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Magnolia, a household making less than $2,087 a month would be considered overburdened when renting an apartment at or above the median rent. 42.44% of households who rent are overburdened in Magnolia.1

Area Median Income In Magnolia

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Magnolia, the AMI is calculated from all households within Columbia County.

In Magnolia, HUD calculates the Area Median Income for a family of four as $55,100

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Magnolia

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for Magnolia HUD Rental Assistance in Magnolia

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $12,490 $16,910 $21,330 $25,750 $29,800 $32,000 $34,200 $36,400
50% of Median $19,300 $22,050 $24,800 $27,550 $29,800 $32,000 $34,200 $36,400
80% of Median $30,900 $35,300 $39,700 $44,100 $47,650 $51,200 $54,700 $58,250
Low Income Housing Tax Credits in Magnolia

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1989 to 2004, 2 low income apartment communities containing 96 rental apartments have been constructed and made affordable to low income persons in Magnolia by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Magnolia

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $19,300 $22,050 $24,800 $27,550 $29,800 $32,000 $34,200 $36,400
60% of Median $23,160 $26,460 $29,760 $33,060 $35,760 $38,400 $41,040 $43,680

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Magnolia is $29,760 a year, or $2,480 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,480 by 30% to get a maximum rent of $744 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $483 $517 $620 $717 $800 $883
60% $579 $620 $744 $860 $960 $1,059
Fair Market Rents in Magnolia

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$499 $504 $630 $848 $992