Magnolia Meadows Associates ,

7080 Lauren Ln, Easton, Maryland 21601

Magnolia Meadows Associates ,, located at 7080 Lauren Ln in Easton, has one, two and three bedroom apartments. Magnolia Meadows Associates , participates in the Low-Income Housing Tax Credit (LIHTC) program.

Contact Magnolia Meadows Associates ,

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Units

Unit (Bd/Ba) Ft2 Rent
One Bedroom (1/1) 723 $585
Two Bedroom (2/1) 870 $655
Three Bedroom (3/2) 1050 $745

Magnolia Meadows Associates , Details

  • 98 one, two and three bedroom units.
  • Accepts Section 8 Housing Choice Vouchers (HCV)

Property Amenities

  • Tot Lot
  • 24hr Emergency Maintenance

Unit Amenities

  • Private Entrance

About Magnolia Meadows Associates ,

Magnolia Meadows Apartments is a family community offering the best in affordable housing. Attractive building design and professionally landscaped grounds.

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.

Easton 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 Easton but actual income limits may differ for units at Magnolia Meadows Associates ,.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $26,400 $30,150 $33,900 $37,650 $40,700 $43,700 $46,700 $49,700
Low Income (60%) $31,680 $36,180 $40,680 $45,180 $48,840 $52,440 $56,040 $59,640

Magnolia Meadows Associates , was built in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program. In addition to providing apartments for low-income households, this property could include some market rate units. Households earning 60% or less of the Area Median Income (AMI) qualify for targeted rental units in LIHTC financed housing. This property may also designate units for renters with even lower incomes, from 60% of AMI down to 30% AMI. It is even possible that all units have been set aside for those with extremely low incomes (as low as 15% of AMI). This means that the same size unit can rent for different amounts based on the income of the renter.

Figuring out income and rent limits for affordable housing can be complex especially when more than one federal program is involved. To know for sure if you qualify, you must contact the property directly. The amounts provided here should only be used as a basic guide.

Magnolia Meadows Associates , is managed by Fairville Management Company.

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