Rainbow City, AL


Highest Appreciating Rainbow City Neighborhoods Since 2000

Rainbow City, AL Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Rainbow City Housing Market Information

With 9,580 people, 3,936 houses or apartments, and a median cost of homes of $149,499, Rainbow City real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Rainbow City, accounting for 67.86% of the city's housing units. Other types of housing that are prevalent in Rainbow City include large apartment complexes or high rise apartments ( 18.70%), mobile homes or trailers ( 7.92%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.52%).

The most prevalent building size and type in Rainbow City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.69% owning and 38.31% renting.

There is a lot of housing in Rainbow City built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Rainbow City built between 2000 and later ( 17.77%). A lesser amount of the housing stock also hails from between 1940-1969 ( 16.49%). There's also some housing in Rainbow City built before 1939 ( 1.96%).

Rainbow City Home Appreciation Rates

Real estate appreciation rates in Rainbow City's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.50% during the period.

Over the last year, Rainbow City appreciation rates have trailed the rest of the nation. In the last twelve months, Rainbow City's appreciation rate has been -0.97%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Rainbow City were at 5.78%, which equates to an annual appreciation rate of 25.19%.

Importantly, this makes Rainbow City one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Alabama, our data show that Rainbow City's latest annual appreciation rate is lower than 90% of the other cities and towns in Alabama.

Average Home Values


Median Home Value:

Rainbow City, AL HOME PRICES

Value Range
> $1,004,000 1.1
$753,001 - $1,004,000 0.2
$502,001 - $753,000 0.9
$402,001 - $502,000 3.9
$301,001 - $402,000 3.2
$201,001 - $301,000 12.2
$100,001 - $201,000 54.8
$50,001 - $100,000 14.9
$0 - $50,000 8.7

Very High for AL
Average for Nation

Value Relative to Nation Value Relative to State
51.6013818139235 17.5

Number Of Homes And Apartments:

Rainbow City Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2017 Q1 - 2017 Q2
Last 12 Months:
2016 Q2 - 2017 Q2
Last 2 Years:
2015 Q2 - 2017 Q2
Last 5 Years:
2012 Q2 - 2017 Q2
Last 10 Years:
2007 Q2 - 2017 Q2
Since 2000:
2000 Q1 - 2017 Q2
19.23% 1.01% 2 2
* 10 is highest

Rent & Ownership


Average Market Rent:
$1,081 / per month

Homeownership Rate

Owners 61.69
Renters 38.31
Vacant 8.34

Housing Market Details


Age of Homes

AGE OF Rainbow City HOMES
2000 or Newer 17.8
1970 - 1999 63.8
1940 - 1969 16.5
1939 or Older 2.0

Types of Homes

TYPE OF Rainbow City HOMES
Single-Family 67.9
Townhomes 0.0
Small Apt. Buildings 5.5
Apt. Complexes 18.7
Mobile Homes 7.9
Other 0.0

Home Size

SIZE OF Rainbow City HOMES
No Bedroom 0.00
1 Bedroom 4.68
2 Bedrooms 24.01
3 Bedrooms 56.38
4 Bedrooms 11.97
5 or more bedrooms 2.96

Popular Neighborhoods in Rainbow City

Zip Codes in Rainbow City, AL