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
Residency in New Hanover County is preferred; preferences for elderly, disabled, working individuals (20+ hrs/week), homeless, or federally displaced families exist, with some communities having age (55+, 62+) or disability (SS/SSI required) preferences.
The waitlist last opened from March 1, 2022, to March 2, 2022. Families with earnings 50% or below the area's average median income are candidates, with requirements including being 18+, citizenship/eligible status, background and credit checks, and no evictions in the last three years.
Waitlist data provided by section8waitlist.org
Updated September 5, 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 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.
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.
Is there a waitlist for Cypress Cove?+
Public Housing waitlist is currently Open. 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 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.
Who manages Cypress Cove?+
Cypress Cove is managed by . You can reach them at . Visit their website for more information.
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.
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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