How long will Magnolia lake apartments remain affordable housing?

LIHTC properties are required by law to remain affordable for a minimum of 30 years from the date they were placed in service (Magnolia lake apartments was placed in service around 2004, so rent restrictions are secured at least until ~2034). After that period, the owner can choose to exit the program or renew. Ask management about the property's current compliance end date.

Is Magnolia lake apartments a new building?

Yes. HFA records classify this as a new construction LIHTC property, meaning units were purpose-built as affordable housing rather than converted from existing stock. New construction properties often feature modern layouts and energy-efficient systems. It's worth asking management about the age of appliances and any known maintenance issues before applying.

MAGNOLIA LAKE APARTMENTS — Income-Restricted Apartments in Carrollton, Georgia

Neighborhood & Amenities

Walk Score®

22/100• Car-Dependent

Bike Score®

34/100• Somewhat Bikeable

Walk Score®, Transit Score®, and Bike Score® are trademarks of Walk Score and Redfin.

How Walk Score works

How rent works

What this means for you

This property includes LIHTC tax credit · Not Reported AMI. Rent rules can change by unit, so ask the office which program applies to the apartment you want.

LIHTC: These are income-based apartments with rent limits tied to the local Area Median Income (AMI) — not market-rate rent. Rent limits are set from the local AMI. If this property also has rental assistance, some tenants may pay about 30% of adjusted income.

Services & Accessibility

Wheelchair & Mobility AccessVerify

Not explicitly confirmed. Call ahead to verify elevator availability and doorway widths before applying.

Management & Ownership

Property Owner

JAMES PONDER

For Profit

Who can live here

Income ceiling: Not Reported New Construction Income-qualified only

Rent-Restricted Units

216 of 216 total

income-restricted tax credit apartments

Rent-Restricted Until

~2004

Minimum 30-year LIHTC legal commitment

Income Limit

Not Reported

Your household income must be at or below this % of Area Median Income

How do Tax Credit Apartments work?

Magnolia lake apartments is a Low Income Housing Tax Credit (LIHTC) apartment community in Carrollton, Georgia. LIHTC properties — also called Section 42 housing or tax credit apartments — are income-restricted rentals developed with federal tax credits administered by state Housing Finance Agencies (HFAs). Qualifying residents pay rent based on a percentage of the Area Median Income (AMI) for Carrollton. These properties are among the most affordable apartments available without a Section 8 voucher.

To qualify, your total household income must fall at or below the income limit set for this property — currently Not Reported of AMI. Unlike public housing, LIHTC income-restricted apartments are privately managed and require you to apply directly to the property. Rent is fixed at a discounted rate tied to AMI — not to your specific income — so your monthly payment stays predictable.

By law, LIHTC properties must remain rent-restricted for a minimum of 30 years. Magnolia lake apartments was placed in service around 2004, keeping rents income-restricted at least through ~2004.

Before You Apply

Confirm the age rule and income limit
You must be of qualifying age. Your income must fall within HUD's Area Median Income (AMI) limits for Carrollton.
Ask which unit types are actually available
This listing shows historically available units. Ask directly if a unit is open today.
Verify accessibility before paying any fees
If you use a wheelchair or walker, confirm elevator access and doorway widths before submitting a paid application.

Questions People Ask

What unit types are reported at Magnolia lake apartments?Open

This record reports: Call for layouts. Availability can change rapidly, so ask management which layouts are currently open and whether any accessible units are available.

What are the income limits to qualify at Magnolia lake apartments?Open

Magnolia lake apartments is a Low Income Housing Tax Credit (LIHTC) property. HFA records indicate the income ceiling is set at Not Reported. This means your household income must be at or below that percentage of the Area Median Income (AMI) for carrollton. The exact dollar threshold depends on your household size. Management will verify income during the application process.