4320 Magnolia Green Ln, Raleigh, NC 27604
Waiting List Forecast: Likely Short or None
Verified for 2023 by Colleen Carter, Ric Gresia| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 2 - 3 Beds | 1 - 2.5 Baths | 944 - 1,380 Sq Ft |
Since this property is a LIHTC property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.
Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.
Offers Two and Three bedroom garden apartment homes and townhouses for individuals and familes. Located just minutes away from schools, shopping, US 64 and I 440.
Because Village of New Hope participates in HUD's HOME program for rental housing and the LIHTC program, at least some of the units in this property are set aside for households earning 60% or less of the AMI and rents are capped at the local FMR and in many cases much lower. For a HOME project of this size, some of the units are set aside for households at or below 50% AMI with a corresponding lower rent cap. As this property appears not to have a project-based subsidy or any other Federal assistance, you likely will have to pay your own rent, albeit, at a lower rent amount thanks to the HOME and LIHTC programs. Since this property participates in the HOME and LIHTC programs, the property is required to accept Section 8 Housing Choice Vouchers.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| Two Bedroom Garden (2/1) | 944ft2 | Call for Price† |
| Two Bedroom Town House (2/2.5) | 985ft2 | Call for Price† |
| Three Bedroom Garden (3/2) | 1203ft2 | Call for Price† |
| Three Bedroom Town House (3/2.5) | 1380ft2 | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $39,700 / year | $45,350 / year | $51,000 / year | $56,650 / year | $61,200 / year | $65,750 / year |
| 50% AMI for PBRA Units | $39,700 / year | $45,350 / year | $51,000 / year | $56,650 / year | $61,200 / year | $65,750 / year |
| 60% AMI for LIHTC Units | $47,640 / year | $54,420 / year | $61,200 / year | $67,980 / year | $73,440 / year | $78,900 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Village of New Hope have a waiting list?
Village of New Hope probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at Village of New Hope?
We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.
In addition to Village of New Hope, how many other affordable housing properties (and units) are there in Raleigh?
In addition to Village of New Hope, we list 141 other affordable properties in Raleigh. Learn about these properties here. Our data research shows that there are a total of 8821 affordable units in Raleigh.
When was the Village of New Hope listing last updated?
Village of New Hope listing on Affordable Housing Online was last updated on 01/03/2023 by Affordable Housing Online research staff. Remember, a property's status can change so you should contact the property to confirm.
Housing options for persons with disabilities.
Many housing programs have apartments or properties restricted to residents with disabilities, including Section 811 Supportive Housing for Persons with DisabilitiesLisa Selby says:
"After years of applying for Section 8 and never being called, this website is the reason I finally received my voucher, and just moved into my new apartment! If I had not started receiving alerts from Affordable Housing Online of waiting list openings in my area, I would not be where I am today!"