Banyan Grove

5455 Macdonald Ave, Stock Island, Florida 33040

Residents enjoy affordable, spacious two and three bedroom apartment homes set conveniently located to US 1 with easy access into Key West. Residents of Banyan Grove delight in outstanding family friendly amenities including a playground and gazebo with outdoor grills.

Units

Unit (Bd/Ba) Ft2 Rent
Two Bedroom (2/1) - From $1,280
Three Bedroom (3/1) - From $1,476

Banyan Grove Details

  • 48 two and three bedroom units.
  • Low-Income Housing Tax Credit (LIHTC)

Property Amenities

  • Tot Lot
  • On-Site Parking
  • Grilling Area
  • Park Area With BBQ Grills, Picnic Tables & Gazebos

Unit Amenities

  • Dishwasher
  • Cable Ready
  • Refrigerator
  • Stove
  • Washer/ Dryer
  • Dining Area

Office Hours

Day Hours
Monday 9:00am-5:00pm
Tuesday 9:00am-5:00pm
Wednesday 9:00am-5:00pm
Thursday 9:00am-5:00pm
Friday 9:00am-5:00pm

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

Stock Island Low-Income Housing Tax Credit Income Limits

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Stock Island but actual income limits may differ for units at Banyan Grove.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $35,600 $40,700 $45,800 $50,850 $54,950 $59,000 $63,100 $67,150
Low Income (60%) $42,720 $48,840 $54,960 $61,020 $65,940 $70,800 $75,720 $80,580
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