Rainbow City, AL Real Estate

According to census data in the year 2000 there were 3,850 housing units in Rainbow City. This represents a 21.4% growth from 3,172 in 1990.

Of those housing units, 2,607 were located in either urbanized areas or urban clusters, and 1,243 were located in what is classified as a rural area.

Homeownership rate in Rainbow City is about 68.3%. Rainbow City's vacancy rate, including seasonal lodging, is about 5.8%. Average household size is 2.37 people.

The majority of houses, apartments or condos in Rainbow City were built after 1977.


Housing Size

Housing Units by Size
Studio Type0.20%
One Bedroom7.40%
Two Bedrooms26.80%
Three Bedrooms49.90%
Four Bedrooms13%
Five Bedrooms or more2.90%
As % of Housing Units

Owned Homes, Apartments and Condos

Average Household Size2.49
Median year structure was built1976
Median Value of occupied units$108,200
Median Price asked for vacant units$108,900

Rented Homes, Apartments and Condos

Average Household Size2.12
Median year structure was built1981
Median Monthly Rent asked for vacant units$405

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0.50%
Second Mortgage6.30%
Home Equity Loan7.80%
Simple Mortgage41.20%
Debt Free44.20%
As % of Housing Units
Median part of Monthly Household Income dedicated to covering home ownership costs15.1%