The paper studies the behavior of reinforced concrete raft foundations for multi-story buildings. It also develops a reliability assessment tool for multi- story building raft foundations subjected to earthquake loading. Several multi-story buildings with various configurations, heights, and soil profiles, were subjected to several ACI code combinations of gravity and earthquake loads from different seismic zones. The reliability of the raft foundations of these buildings was assessed using the reliability index approach based on their resistance to the applied loads. Also, the responses of the multi-story buildings under these loading combinations were studied and analyzed in order to draw recommendations and guidelines for the preliminary design of structurally efficient and reliable raft foundations in earthquake zones.