Low Income Apartments and Affordable Housing For Rent in Rainbow City, AL

Discover affordable housing in Rainbow City where there are 5+ 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.

Meadow Oaks Apartments

3010 Jones St, Rainbow City, Alabama 35906

Rainbow Apartments

120 Doris St, Rainbow City, Alabama 35906

Columbia Square Towne Houses

316 Chewalca Drive, Rainbow City, Alabama 35906

Greystone

2950 Jones St, Rainbow City, Alabama 35906

Wyatt Lee Meadows

Hwy 77 & W. Grand Ave., Rainbow City, Alabama 35906

auto_awesome Focus Results:
switch_access_shortcut Short Wait
payment Subsidized
real_estate_agent Accepts Vouchers
elderly Senior
payment Income Based
accessibility Accessible
accessible_forward Disability

How To Identify Affordable Housing in Rainbow City, Alabama

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.
The Hourly Wage Needed to Afford A Safe, Modest 2 Bed Apartment In Rainbow City, Alabama
$17.80/hour
$10.55 (+146%) more than Alabama minimum wage and $10.55 (+146%) more than the Federal minimum wage.
Learn More About Rainbow City, Alabama Affordable Housing ↓

How many renters live in Rainbow City, Alabama?

The City of Rainbow City has people living in households.

There are renters living in renter households in this City. Renters make up 32.12 percent of the population living in Rainbow City.

What is the rental market like in Rainbow City, Alabama?

There are an estimated housing units in the Rainbow City area. Of these, units are rental homes, making up percent of the housing market. For every renter household in Rainbow City, Alabama, there are 1.11 rental units.

What is the vacancy rate for rentals in Rainbow City?

The rental vacancy rate in Rainbow City is 10 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.

How many rental units are in Rainbow City for each bedroom size?

Occupied Rental Units by Size in Rainbow City
Studio One-Bedroom Two-Bedroom Three-Bedroom Four+ Bedrooms
4 200 730 373 116
Occupied Rental Units by Size in Rainbow City

A large number of apartments in Rainbow City 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 Rainbow City

Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $637 to $1,252. FMRs are updated annually by HUD for every city and county nationwide.

Bed Size 2024 Fair Market Rents
Studio $637
One BR $817
Two BR $940
Three BR $1,170
Four BR $1,252
2024 Fair Market Rents in Rainbow City, Alabama

How many units are rented at Fair Market Rent (FMR) in Rainbow City?

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 2 50 percent
One BR 146 73 percent
Two BR 337 46 percent
Rental Units Below FMR in Rainbow City, Alabama

How many affordable rental units are in Rainbow City?

There are a variety of federal affordable housing programs serving households in Rainbow City, Alabama including the following:

Federal Program Unit Count
Low Income Housing Tax Credit
Section 8 Project-Based Rental Assistance
Tracked Units by Federal Program in Rainbow City, Alabama

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

Income Based Apartments in Rainbow City, Alabama

Rainbow City features 152 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 Rainbow City, Alabama

There are 148 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Rainbow City.

Housing Choice Vouchers in Rainbow City, Alabama

On average, Section 8 Housing Choice vouchers pay Rainbow City landlords $400 per month towards rent. The average voucher holder contributes $300 towards rent in Rainbow City.

The maximum amount a voucher would pay on behalf of a low-income tenant in Rainbow City, Alabama for a two-bedroom apartment is between $846 and $1,034.

Sourced from federal housing data and AffordableHousingOnline.com research.