Low Income Apartments and Affordable Housing For Rent in Palm Bay, FL

Discover affordable housing in Palm Bay where there are 57+ housing opportunities based on income and household needs like accessible units for seniors or persons with disabilities. Find and apply to these low income apartments now.

Malabar Cove II

154 Daffodil Dr SW, Palm Bay, Florida 32908

switch_access_shortcut Short Wait
accessibility Accessible

Southlake Towers

5501 Pinewood Dr NE, Palm Bay, Florida 32905

switch_access_shortcut Short Wait

Vinings at Palm Bay

1000 Palm Place Dr NE , Palm Bay, Florida 32905

Palm Bay Club

1923 Pinewood Dr NE, Palm Bay, Florida 32905

bed 2
payment $546/mo.

Woodlake Village

1700 Woodlake Dr NE, Palm Bay, Florida 32905

bed 3
payment $1890/mo.

Monroe on Monterey

1635 NE Monterey Dr, Palm Bay, Florida 32905

bed 1
payment $1060/mo.

Meri Palm Bay

1880 Mogra Circle NE, Palm Bay, Florida 32905

bed 3
payment $1651/mo.

Madalyn Landing

500 SW Malabar Rd, Palm Bay, Florida 32907

bed 3
payment $1695/mo.

1366 Camas Ave NW

1366 Camas Ave NW, Palm Bay, Florida 32907

bed 3
payment $1900/mo.

117 Hawthorne Ln NE

117 Hawthorne Ln NE, Palm Bay, Florida 32907

bed 4
payment $1890/mo.

392 Ocarina St SW

392 Ocarina St SW, Palm Bay, Florida 32908

bed 4
payment $2200/mo.

772 Cadez St NE

772 Cadez St NE, Palm Bay, Florida 32905

bed 3
payment $1860/mo.

2339 Fallon Blvd NE

2339 Fallon Blvd NE, Palm Bay, Florida 32907

bed 3
payment $1840/mo.

647 Furth Rd NW

647 Furth Rd NW, Palm Bay, Florida 32907

bed 3
payment $1915/mo.

2134 Sleepy Hollow Dr NE

2134 Sleepy Hollow Dr NE, Palm Bay, Florida 32905

bed 3
payment $1920/mo.

1640 Paragon Rd SE

1640 Paragon Rd SE, Palm Bay, Florida 32909

bed 3
payment $1790/mo.

976 Hampshire Ave NE

976 Hampshire Ave NE, Palm Bay, Florida 32905

bed 3
payment $1840/mo.

1388 Tilberg Ave NW

1388 Tilberg Ave NW, Palm Bay, Florida 32907

bed 3
payment $1895/mo.

2606 Pine St NE

2606 Pine St NE, Palm Bay, Florida 32905

bed 4
payment $2100/mo.

426 Harrisburg St SW

426 Harrisburg St SW, Palm Bay, Florida 32908

bed 3
payment $1900/mo.

How To Identify Affordable Housing in Palm Bay, Florida

Look for program and preference badges on affordable apartment listings. These badges can help you identify the types of low income housing each apartment offers and if you may be eligbile for rental assistance or reduced rents.

Badge Description
switch_access_shortcut Short Wait
Low income apartments with no or short waiting lists.
payment Subsidized
Low income housing where the rent is subsidized and the renter pays only a portion of total rent.
real_estate_agent Accepts Vouchers
Apartments that accept Section 8 vouchers near you
elderly Senior
Rental housing for seniors who are 55 (or sometimes 62) and older.
payment Income Based
Affordable apartments where the rent paid is based on renter income.
accessibility Accessible
Meets Accessibilty Requirements of the Fair Housing Act, the ADA, or HUD policy.
accessible_forward Disability
Apartments for individuals or families with disabilities.
real_estate_agent Naturally Affordable
Naturally Occuring Affordable Housing - or NOAH - is any housing unit that offers affordable rent without participating in a rent subsidy program.
The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Palm Bay, Florida
$27.16/hour
$15.16 (+126%) more than Florida minimum wage and $19.91 (+275%) more than the Federal minimum wage.
Learn More About Palm Bay, Florida Affordable Housing ↓

What HUD offices serve Palm Bay, Florida?

Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.

Operates the Section 8 Housing Choice Voucher (HCV), Public Housing programs for Palm Bay, Florida.

Go to the Florida Public Housing and Low-Income Apartments Waiting Lists page for openings near Palm Bay.

How many renters live in Palm Bay, Florida?

The City of Palm Bay has people living in households.

There are renters living in renter households in this City. Renters make up 22.82 percent of the population living in Palm Bay.

What is the rental market like in Palm Bay, Florida?

There are an estimated housing units in the Palm Bay area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Palm Bay, Florida, there are 0.97 rental units.

What is the vacancy rate for rentals in Palm Bay?

The rental vacancy rate in Palm Bay is 5 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.

How many rental units are in Palm Bay for each bedroom size?

Occupied Rental Units by Size in Palm Bay
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
173 1,090 2,553 3,939 773
Occupied Rental Units by Size in Palm Bay

A large number of apartments in Palm Bay have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.

How Much Is Rent in Palm Bay

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,034 to $2,263. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $1,034
One BR $1,214
Two BR $1,434
Three BR $1,938
Four BR $2,263
2024 Fair Market Rents in Palm Bay, Florida

How many units are rented at Fair Market Rent (FMR) in Palm Bay?

Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.

These are the approximate number of units renting below the FMR in this market:

Unit Size Count of Units Below FMR Percentage of Total Units Below FMR
Studio 111 64 percent
One BR 634 58 percent
Two BR 1,902 75 percent
Rental Units Below FMR in Palm Bay, Florida

How many affordable rental units are in Palm Bay?

There are a variety of federal affordable housing programs serving households in Palm Bay, Florida including the following:

Federal Program Unit Count
Low Income Housing Tax Credit
Section 8 Project-Based Rental Assistance
Tracked Units by Federal Program in Palm Bay, Florida

Rental units may be funded in part by multiple federal programs.

Income Based Apartments in Palm Bay, Florida

Palm Bay features 85 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.

Low Rent Apartments in Palm Bay, Florida

There are 310 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Palm Bay.

Housing Choice Vouchers in Palm Bay, Florida

On average, Section 8 Housing Choice vouchers pay Palm Bay landlords $700 per month towards rent. The average voucher holder contributes $400 towards rent in Palm Bay.

The maximum amount a voucher would pay on behalf of a low-income tenant in Palm Bay, Florida for a two-bedroom apartment is between $1,291 and $1,577.

Sourced from federal housing data and AffordableHousingOnline.com research.

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