About This Property
Meadow Oaks Apts comprises 56 low-income units in Rainbow City, AL and has been in service since 2001. The property includes 30 two-bedroom units, 20 three-bedroom units, and 6 four-bedroom units, serving families through 9% LIHTC financing and HOME funding. The property is managed as an affordable housing community.
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 |
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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 Meadow Oaks Apts is typically 30% of household income or less.
What size apartments are available at Meadow Oaks Apts?+
Meadow Oaks Apts offers the following unit types: 30 Two-Bedroom, 20 Three-Bedroom, 6 Four-Bedroom units, for a total of 56 units.
Who is eligible to live at Meadow Oaks Apts?+
Meadow Oaks Apts primarily serves families. All applicants must also meet income eligibility requirements for the area. Contact the property for specific eligibility criteria.
How do I apply for housing at Meadow Oaks Apts?+
Meadow Oaks 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 manages Meadow Oaks Apts?+
Meadow Oaks Apts is managed by . You can reach them at . Visit their website for more information.
What is the price range for apartments in Rainbow City, AL?+
Based on Fair Market Rent for Etowah County, the estimated price range is: 2-bedroom: $940, 3-bedroom: $1170. Actual rent at Meadow Oaks Apts may be lower for income-eligible households.
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.
Contact Information
Walk Score
Car-Dependent
Nearby Schools
Ratings provided by GreatSchools.org. Ratings are on a 1-10 scale.
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