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Real Estate Prices & Overview

Rainbow Ridge median real estate price is $515,911, which is less expensive than 78.3% of California neighborhoods and 29.6% of all U.S. neighborhoods.

The average rental price in Rainbow Ridge is currently $3,312, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 42.1% of California neighborhoods.

Rainbow Ridge is a suburban neighborhood (based on population density) located in Moreno Valley, California.

Rainbow Ridge real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Rainbow Ridge 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.

Real estate vacancies in Rainbow Ridge are 3.3%, which is lower than one will find in 78.4% of American neighborhoods. Demand for real estate in Rainbow Ridge is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

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 Moreno Valley, the Rainbow Ridge neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Car Ownership

American households most often have a car, and regularly they have two or three. But households in the Rainbow Ridge neighborhood buck this trend. Residents of this neighborhood must really love automobiles. NeighborhoodScout's Analysis reveals that 42.4% of the households here have four, five, or more cars. That is more cars per household than in 98.8% of the neighborhoods in the nation.

Real Estate

Some neighborhoods are made up of apartments. Some consist of row houses, and most - by far - consist of a mixture of housing types. But the Rainbow Ridge neighborhood stands out due to the total dominance of detached, single-family homes here. There are nearly no other types of residential real estate in the neighborhood. In fact, this neighborhood has a higher proportion of single-family homes in its real estate stock than 98.7% of all American neighborhoods.

In addition, one way that the Rainbow Ridge neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 96.5% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.

Diversity

Did you know that the Rainbow Ridge neighborhood has more Mexican and Yugoslav ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 60.5% of this neighborhood's residents have Mexican ancestry and 0.3% have Yugoslav ancestry.

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 Ridge neighborhood in Moreno Valley are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 79.5% of the neighborhoods in America. With 19.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 68.2% 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 Ridge neighborhood, 40.2% of the working population is employed in manufacturing and laborer occupations. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 20.5% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (18.9%), and 18.4% in executive, management, and professional occupations.

Languages

The most common language spoken in the Rainbow Ridge neighborhood is Spanish, spoken by 53.6% of households. Some people also speak English (41.1%).

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Rainbow Ridge neighborhood in Moreno Valley, CA, residents most commonly identify their ethnicity or ancestry as Mexican (60.5%). There are also a number of people of Asian ancestry (10.6%), and residents who report Puerto Rican roots (2.1%), and some of the residents are also of Cuban ancestry (2.1%), along with some English ancestry residents (1.7%), among others. In addition, 27.3% of the residents of this neighborhood were born in another country.

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 Ridge neighborhood spend between 45 minutes and one hour commuting one-way to work (31.9% of working residents), longer and tougher than most commutes in America.

Here most residents (80.8%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (14.8%) . 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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