About This Property
Rainbow Apts offers 52 low-income units in Rainbow City, AL, with a mix of one-, two-, and three-bedroom floor plans serving families and disabled residents. The property has been in service since 1993 and contains 28 one-bedroom units, 20 two-bedroom units, and 4 three-bedroom units. This Etowah County community accepts applications from eligible households.
Property Details
Fair Market Rent - Etowah County, AL
FMR represents the estimated amount needed to cover rent and utilities for a moderately-priced unit in this area.
| Bedrooms | FMR |
|---|---|
| Studio/Efficiency | $637 |
| 1 Bedroom | $817 |
| 2 Bedroom | $940 |
| 3 Bedroom | $1,170 |
| 4 Bedroom | $1,252 |
Income Limits - Etowah County, AL
Annual income limits by household size used to determine eligibility for affordable housing programs.
- Extremely Low (30%)
- $13,350
- Very Low (50%)
- $22,250
- Low (80%)
- $35,600
- Extremely Low (30%)
- $17,420
- Very Low (50%)
- $25,400
- Low (80%)
- $40,650
- Extremely Low (30%)
- $21,960
- Very Low (50%)
- $28,600
- Low (80%)
- $45,750
- Extremely Low (30%)
- $26,500
- Very Low (50%)
- $31,750
- Low (80%)
- $50,800
- Extremely Low (30%)
- $31,040
- Very Low (50%)
- $34,300
- Low (80%)
- $54,900
- Extremely Low (30%)
- $35,580
- Very Low (50%)
- $36,850
- Low (80%)
- $58,950
- Extremely Low (30%)
- $39,400
- Very Low (50%)
- $39,400
- Low (80%)
- $63,000
- Extremely Low (30%)
- $41,950
- Very Low (50%)
- $41,950
- Low (80%)
- $67,100
| Household | Extremely Low (30%) | Very Low (50%) | Low (80%) |
|---|---|---|---|
| 1 Person | $13,350 | $22,250 | $35,600 |
| 2 Persons | $17,420 | $25,400 | $40,650 |
| 3 Persons | $21,960 | $28,600 | $45,750 |
| 4 Persons | $26,500 | $31,750 | $50,800 |
| 5 Persons | $31,040 | $34,300 | $54,900 |
| 6 Persons | $35,580 | $36,850 | $58,950 |
| 7 Persons | $39,400 | $39,400 | $63,000 |
| 8 Persons | $41,950 | $41,950 | $67,100 |
Tax Credit Program Details
Frequently Asked Questions
What is the average rent for affordable housing in Rainbow City, AL?+
The Fair Market Rent (FMR) for Etowah County, AL is: $637 (Studio), $817 (1BR), $940 (2BR), $1170 (3BR), $1252 (4BR). Actual rent at subsidized properties like Rainbow Apts is typically 30% of household income or less.
What size apartments are available at Rainbow Apts?+
Rainbow Apts offers the following unit types: 28 One-Bedroom, 20 Two-Bedroom, 4 Three-Bedroom units, for a total of 52 units.
What are the income limits for affordable housing in Etowah County, AL?+
For a 4-person household in Etowah County, AL, the income limits are: Extremely Low Income (30% AMI): $26,500, Very Low Income (50% AMI): $31,750, Low Income (80% AMI): $50,800. These limits are set by HUD and updated annually.
What is the price range for apartments in Rainbow City, AL?+
Based on Fair Market Rent for Etowah County, the estimated price range is: 1-bedroom: $817, 2-bedroom: $940, 3-bedroom: $1170. Actual rent at Rainbow Apts may be lower for income-eligible households.
How do I apply for housing at Rainbow Apts?+
Rainbow Apts 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 Rainbow Apts?+
Rainbow Apts primarily serves families, persons with disabilities. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
Who manages Rainbow Apts?+
Rainbow Apts 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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