About This Property
Park At Palm Bay contains 234 low-income rental units in Palm Bay, Florida, with a mix of 64 one-bedroom, 96 two-bedroom, and 74 three-bedroom apartments. The property has been in service since 2002 and is funded through tax-exempt bonds with 4% Low-Income Housing Tax Credit financing. The community serves households at or below the area median income limits as required for affordable housing programs.
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 Park At Palm Bay is typically 30% of household income or less.
What size apartments are available at Park At Palm Bay?+
Park At Palm Bay offers the following unit types: 64 One-Bedroom, 96 Two-Bedroom, 74 Three-Bedroom units, for a total of 234 units.
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: 1-bedroom: $1214, 2-bedroom: $1434, 3-bedroom: $1938. Actual rent at Park At Palm Bay may be lower for income-eligible households.
Who manages Park At Palm Bay?+
Park At Palm Bay is managed by . You can reach them at . Visit their website for more information.
How do I apply for housing at Park At Palm Bay?+
Park At Palm Bay 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.
Contact Information
Walk Score
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Nearby Schools
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