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Real Estate Prices & Overview

Rainbow Lakes Estates North median real estate price is $242,581, which is less expensive than 83.9% of Florida neighborhoods and 72.9% of all U.S. neighborhoods.

The average rental price in Rainbow Lakes Estates North is currently $1,449, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 93.0% of Florida neighborhoods.

Rainbow Lakes Estates North is a remote neighborhood (based on population density) located in Dunnellon, Florida.

Rainbow Lakes Estates North real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Rainbow Lakes Estates North neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Vacant apartments or homes are a major fact of life in Rainbow Lakes Estates North. The current real estate vacancy rate here is 16.6%. This is higher than the rate of vacancies in 83.2% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Dunnellon, the Rainbow Lakes Estates North neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Real estate in the Rainbow Lakes Estates North neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 98.7% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood.

In addition, one of the notable things about Rainbow Lakes Estates North is that it is one of the quietest neighborhoods in America, according to NeighborhoodScout's exclusive analysis and quantitative rating of quietness. When you are here, you will find it to be very quiet. If quiet and peaceful are your cup of tea, you may have found a great place for you.

People

Priests and therapists would like to think they know the secrets to a truly successful marriage, but according to NeighborhoodScout's research, the folks of the Rainbow Lakes Estates North neighborhood may actually hold the key. 69.1% of its residents are married, which is a higher percentage than is found in 95.7% of the neighborhoods in America.

Diversity

Did you know that the Rainbow Lakes Estates North neighborhood has more Cuban ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 4.9% of this neighborhood's residents have Cuban ancestry.

Rainbow Lakes Estates North is also pretty special linguistically. Significantly, 1.2% of its residents five years old and above primarily speak Portuguese at home. While this may seem like a small percentage, it is higher than 95.4% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Rainbow Lakes Estates North neighborhood in Dunnellon are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 70.2% of U.S. neighborhoods. With 48.8% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 93.7% of U.S. neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Rainbow Lakes Estates North neighborhood, 31.8% of the working population is employed in clerical, assistant, and tech support occupations. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 29.3% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (25.0%), and 12.2% in manufacturing and laborer occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Rainbow Lakes Estates North neighborhood is English, spoken by 97.3% of households. Other important languages spoken here include Polish and Spanish.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Rainbow Lakes Estates North neighborhood in Dunnellon, FL, residents most commonly identify their ethnicity or ancestry as Irish (17.1%). There are also a number of people of German ancestry (10.0%), and residents who report English roots (9.0%), and some of the residents are also of Italian ancestry (6.3%), along with some Cuban ancestry residents (4.9%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Rainbow Lakes Estates North neighborhood spend between 30 and 45 minutes commuting one-way to work (58.4% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (85.1%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.

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