Magnolia Gardens Apartments

779 Martin Luther King Blvd, Chattanooga, Tennessee 37403

Magnolia Gardens Apartments offer 2 and 3 bedroom apartments. This community is convenietly located near downtown and UT Chattanooga Campus.

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Units

Unit (Bd/Ba) Ft2 Rent
2 Bedroom (2/1) 946 Call for Price
2 Bedroom (2/2) 999 Call for Price
3 Bedroom (3/2) 1106 Call for Price

Magnolia Gardens Apartments Details

  • 40 2 and 3 bedroom units.
  • Low-Income Housing Tax Credit (LIHTC)

Property Amenities

  • Playground
  • 24hr Emergency Maintenance

Unit Amenities

  • Dishwasher
  • Garbage Disposal
  • Washer and Dryer Hookup
  • Water Trash and Sewer Included
  • Fully Equipped Kitchen

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.

Chattanooga 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 Chattanooga but actual income limits may differ for units at Magnolia Gardens Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $26,350 $30,100 $33,850 $37,600 $40,650 $43,650 $46,650 $49,650
Low Income (60%) $31,620 $36,120 $40,620 $45,120 $48,780 $52,380 $55,980 $59,580

Magnolia Gardens Apartments is managed by Emerald Housing Management.

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