About This Property
Malabar Cove I comprises 76 three-bedroom units in Palm Bay, Florida, serving low-income families. The property has been in service since 2009 and is funded through tax-exempt bonds with 4% Low-Income Housing Tax Credits. All 76 units are designated as affordable housing.
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 Malabar Cove I is typically 30% of household income or less.
What size apartments are available at Malabar Cove I?+
Malabar Cove I offers the following unit types: 76 Three-Bedroom units, for a total of 76 units.
How do I apply for housing at Malabar Cove I?+
Malabar Cove I 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.
Who manages Malabar Cove I?+
Malabar Cove I is managed by . You can reach them at . Visit their website for more information.
What is the price range for apartments in Palm Bay, FL?+
Based on Fair Market Rent for Brevard County, the estimated price range is: 3-bedroom: $1938. Actual rent at Malabar Cove I may be lower for income-eligible households.
Who is eligible to live at Malabar Cove I?+
Malabar Cove I primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
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.
Contact Information
Walk Score
Somewhat Walkable
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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