About This Property
Cypress Cove contains 200 residential units in Wilmington, NC, with 198 designated as low-income housing serving families. The property offers a variety of floor plans including 40 one-bedroom, 80 two-bedroom, and 80 three-bedroom units. The community is financed through a 4% Low-Income Housing Tax Credit program.
Waitlist Information
Waitlist managed by Housing Authority of the City of Wilmington
Preferences include elderly or disabled head/co-head of household, head/co-head working at least 20 hours a week, homeless in verified shelter, or displaced due to a federally declared disaster. Eligibility requires income at 30% or below the area median income.
Eligibility requires earnings of 50% or below the Wilmington area's average median income. Heads of households must be 18 or older. Other requirements include family status, citizenship, background check, no sex offender status, no current criminal charges, credit check, and no evictions in the last three years. Outstanding balances from previous tenancies must be paid in full.
Waitlist data provided by section8waitlist.org
Updated July 29, 2026
Property Details
Fair Market Rent - New Hanover County, NC
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $1,027 |
| 1 Bedroom | $1,349 |
| 2 Bedroom | $1,515 |
| 3 Bedroom | $2,002 |
| 4 Bedroom | $2,561 |
Income Limits - New Hanover County, NC
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $16,000
- Very Low (50%)
- $26,700
- Low (80%)
- $42,700
- Extremely Low (30%)
- $18,300
- Very Low (50%)
- $30,500
- Low (80%)
- $48,800
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $34,300
- Low (80%)
- $54,900
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $38,100
- Low (80%)
- $60,950
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $41,150
- Low (80%)
- $65,850
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $44,200
- Low (80%)
- $70,750
- Extremely Low (30%)
- $40,120
- Very Low (50%)
- $47,250
- Low (80%)
- $75,600
- Extremely Low (30%)
- $44,660
- Very Low (50%)
- $50,300
- Low (80%)
- $80,500
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $16,000 | $26,700 | $42,700 |
| 2 Persons | $18,300 | $30,500 | $48,800 |
| 3 Persons | $21,960 | $34,300 | $54,900 |
| 4 Persons | $26,500 | $38,100 | $60,950 |
| 5 Persons | $31,040 | $41,150 | $65,850 |
| 6 Persons | $35,580 | $44,200 | $70,750 |
| 7 Persons | $40,120 | $47,250 | $75,600 |
| 8 Persons | $44,660 | $50,300 | $80,500 |
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Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Wilmington, NC?+
The Fair Market Rent (FMR) for New Hanover County, NC is: $1027 (Studio), $1349 (1BR), $1515 (2BR), $2002 (3BR), $2561 (4BR). Actual rent at subsidized properties like Cypress Cove is typically 30% of household income or less.
What size apartments are available at Cypress Cove?+
Cypress Cove offers the following unit types: 40 One-Bedroom, 80 Two-Bedroom, 80 Three-Bedroom units, for a total of 200 units.
What are the income limits for affordable housing in New Hanover County, NC?+
For a 4-person household in New Hanover County, NC, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $38,100, Low Income (80% AMI): $60,950. These limits are set by HUD and updated annually.
How do I apply for housing at Cypress Cove?+
Cypress Cove 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 Cypress Cove?+
Cypress Cove 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 Wilmington, NC?+
Based on Fair Market Rent for New Hanover County, the estimated price range is: 1-bedroom: $1349, 2-bedroom: $1515, 3-bedroom: $2002. Actual rent at Cypress Cove may be lower for income-eligible households.
Is there a waitlist for Cypress Cove?+
Public Housing waitlist is currently Closed. Section 8 (HCV) waitlist is currently Closed. Waitlist status can change frequently, so check back regularly or contact the housing authority directly for the most up-to-date information.
Who manages Cypress Cove?+
Cypress Cove is managed by . You can reach them at . Visit their website for more information.
Contact Information
Walk Score
Almost All Errands Require a Car
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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