Magnolia Acres is an elderly low income housing apartment subsidized by the federal governments HUD (housing and urban development division). Request information today about Magnolia Acres for complete housing details and current vacancies! Magnolia Acres is a participant of the Department of Housing and Urban Development (HUD) which operates a number of programs which provide both housing and supportive services for the elderly households. HUD defines elderly households as those in which one or more persons are 62 years of age or older.