About This Property
Madalyn Landing offers 304 low-income units in Palm Bay, serving families with a mix of one, two, and three-bedroom floor plans. The property has been in service since 2000 and utilizes 4% Low-Income Housing Tax Credit financing along with tax-exempt bonds. The community includes 64 one-bedroom units, 128 two-bedroom units, and 112 three-bedroom units.
Property Details
Fair Market Rent - Brevard County, FL
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $1,034 |
| 1 Bedroom | $1,214 |
| 2 Bedroom | $1,434 |
| 3 Bedroom | $1,938 |
| 4 Bedroom | $2,263 |
Income Limits - Brevard County, FL
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $15,300
- Very Low (50%)
- $25,450
- Low (80%)
- $40,700
- Extremely Low (30%)
- $17,450
- Very Low (50%)
- $29,050
- Low (80%)
- $46,500
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $32,700
- Low (80%)
- $52,300
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $36,300
- Low (80%)
- $58,100
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $39,250
- Low (80%)
- $62,750
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $42,150
- Low (80%)
- $67,400
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $45,050
- Low (80%)
- $72,050
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $47,950
- Low (80%)
- $76,700
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $15,300 | $25,450 | $40,700 |
| 2 Persons | $17,450 | $29,050 | $46,500 |
| 3 Persons | $21,960 | $32,700 | $52,300 |
| 4 Persons | $26,500 | $36,300 | $58,100 |
| 5 Persons | $31,040 | $39,250 | $62,750 |
| 6 Persons | $35,580 | $42,150 | $67,400 |
| 7 Persons | $40,120 | $45,050 | $72,050 |
| 8 Persons | $44,660 | $47,950 | $76,700 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Palm Bay, FL?+
The Fair Market Rent (FMR) for Brevard County, FL is: $1034 (Studio), $1214 (1BR), $1434 (2BR), $1938 (3BR), $2263 (4BR). Actual rent at subsidized properties like Madalyn Landing is typically 30% of household income or less.
What size apartments are available at Madalyn Landing?+
Madalyn Landing offers the following unit types: 64 One-Bedroom, 128 Two-Bedroom, 112 Three-Bedroom units, for a total of 304 units.
How do I apply for housing at Madalyn Landing?+
Madalyn Landing is a Low-Income Housing Tax Credit (LIHTC) property. To apply, you can start by calling , or visiting their website, or contacting the property management office. Contact the property to learn about availability and application requirements. Eligibility is based on income limits set for the area.
What are the income limits for affordable housing in Brevard County, FL?+
For a 4-person household in Brevard County, FL, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $36,300, Low Income (80% AMI): $58,100. These limits are set by HUD and updated annually.
Who manages Madalyn Landing?+
Madalyn Landing is managed by . You can reach them at . Visit their website for more information.
Who is eligible to live at Madalyn Landing?+
Madalyn Landing primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
What is the price range for apartments in Palm Bay, FL?+
Based on Fair Market Rent for Brevard County, the estimated price range is: 1-bedroom: $1214, 2-bedroom: $1434, 3-bedroom: $1938. Actual rent at Madalyn Landing may be lower for income-eligible households.
Contact Information
Walk Score
Car-Dependent
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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