Rainbow Terrace

About This Building

Affordable Housing Option in Cleveland, OH - Rainbow Terrace Introduction: Rainbow Terrace, situated in Cleveland, OH, offers Low-Income Housing Tax Credit apartments for individuals seeking affordable housing. Supported by the LIHTC, these rental apartments come with program-based rent and income restrictions, making it an ideal option for low-income persons. Incentives for Affordable Housing: The LIHTC program incentivizes builders and developers to provide housing at affordable rates to those with low incomes. The maximum rent charged for these apartments is determined based on the Area Median Income (AMI), which may still pose a challenge for some low-income individuals. We encourage you to check the current rental rates to determine affordability. Apartment Details: At Rainbow Terrace, you will find 484 two and three bedroom apartments designed for low-income households. Given the high demand for affordable housing, waiting lists are typically in place. However, we provide the contact details below so you can directly inquire about the application process and see if you qualify to live here. Contact Information: To apply for Rainbow Terrace, please reach out to the number provided below. It is important to note that at the time of application, the income of all adults expected to reside in the apartment must be included and verified. For further details, feel free to call and inquire. Apartment Specifications: - Number of 2-bedroom apartments available: [Insert number] - Number of 3-bedroom apartments available: [Insert number] Conclusion: Considering the benefits of the LIHTC program and affordable rental rates at Rainbow Terrace, this housing option presents an opportunity for low-income individuals to secure suitable accommodation. For more information, please contact the provided number and take a step towards affordable living.