About This Property
Malabar Cove II is a 72-unit affordable housing community in Palm Bay, Florida that has served families since 2009. The property includes 50 low-income units with a mix of 32 two-bedroom, 8 three-bedroom, and 32 four-bedroom floor plans. Financing includes tax-exempt bonds and 4% Low-Income Housing Tax Credits.
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 Ii is typically 30% of household income or less.
What size apartments are available at Malabar Cove Ii?+
Malabar Cove Ii offers the following unit types: 32 Two-Bedroom, 8 Three-Bedroom, 32 Four-Bedroom units, for a total of 72 units.
How do I apply for housing at Malabar Cove Ii?+
Malabar Cove Ii 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 is eligible to live at Malabar Cove Ii?+
Malabar Cove Ii 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.
What is the price range for apartments in Palm Bay, FL?+
Based on Fair Market Rent for Brevard County, the estimated price range is: 2-bedroom: $1434, 3-bedroom: $1938. Actual rent at Malabar Cove Ii may be lower for income-eligible households.
Who manages Malabar Cove Ii?+
Malabar Cove Ii is managed by . You can reach them at . Visit their website for more information.
Contact Information
Walk Score
Car-Dependent
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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