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 Q3 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 $144,015, house prices in Rainbow City are solidly below the national average.

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

Rainbow City's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Rainbow City during the period has been just -0.93%, which is lower than 80% of US communities.

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 -4.64%, 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 -3.90%, which equates to an annual appreciation rate of -14.73%.

Notably, Rainbow City's appreciation rate in the latest quarter is one of the lowest in America.

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
> $967,000 1.1
$726,001 - $967,000 0.2
$484,001 - $726,000 0.9
$387,001 - $484,000 3.9
$290,001 - $387,000 3.2
$193,001 - $290,000 12.2
$97,001 - $193,000 54.8
$48,001 - $97,000 14.9
$0 - $48,000 8.7

High for AL
Average for Nation

Value Relative to Nation Value Relative to State
55.3135429474794 21.5

Number Of Homes And Apartments:

Rainbow City Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2017 Q2 - 2017 Q3
Last 12 Months:
2016 Q3 - 2017 Q3
Last 2 Years:
2015 Q3 - 2017 Q3
Last 5 Years:
2012 Q3 - 2017 Q3
Last 10 Years:
2007 Q3 - 2017 Q3
Since 2000:
2000 Q1 - 2017 Q3
14.88% 0.78% 1 1
* 10 is highest

Rent & Ownership


Average Market Rent:
$1,112 / 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