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Real Estate Prices & Overview

Rainbow Park median real estate price is $1,050,438, which is more expensive than 96.7% of the neighborhoods in Nevada and 91.6% of the neighborhoods in the U.S.

The average rental price in Rainbow Park is currently $2,238, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 51.4% of Nevada neighborhoods.

Rainbow Park is a suburban neighborhood (based on population density) located in Las Vegas, Nevada.

Rainbow Park real estate is primarily made up of small (studio to two bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Rainbow Park 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 Park are 5.6%, which is lower than one will find in 62.2% of American neighborhoods. Demand for real estate in Rainbow Park 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

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Real Estate

Most neighborhoods are composed of a mixture of ages of homes, but the Rainbow Park stands out as rather unique in having nearly all of its residential real estate built in one time period, namely between 1970 and 1999, generally considered to be established, but not old housing. What you'll sense when you look around or drive the streets of this neighborhood is that many of the residences look the same because of this similarity of age. In fact, 84.4% of the residential real estate here was built in this one time period.

People

If you're planning where to retire, the Rainbow Park neighborhood in Las Vegas is a great option to consider. According to NeighborhoodScout's exclusive retirement dream area analysis, it's peaceful and quiet, has above average safety ratings compared to other neighborhoods in NV, offers a wide range of housing options, and has already attracted an enviable mix of college educated seniors. This neighborhood ranks as better for retirement living than 86.1% of the neighborhoods in Nevada. If you are considering retiring to Nevada, this is a good neighborhood to look at.

Diversity

Did you know that the Rainbow Park neighborhood has more Czechoslovakian and Armenian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.3% of this neighborhood's residents have Czechoslovakian ancestry and 1.9% have Armenian ancestry.

Rainbow Park is also pretty special linguistically. Significantly, 2.6% 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 98.3% 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 Park neighborhood in Las Vegas are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 69.7% of U.S. neighborhoods. In addition, 1.9% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 75.5% of America's neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Rainbow Park neighborhood, 42.8% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 33.7% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (13.3%), and 10.3% 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 Park neighborhood is English, spoken by 87.0% of households. Other important languages spoken here include Spanish, Portuguese and Tagalog (the first language of the Philippine region).

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 Park neighborhood in Las Vegas, NV, residents most commonly identify their ethnicity or ancestry as English (13.6%). There are also a number of people of German ancestry (11.2%), and residents who report Mexican roots (8.7%), and some of the residents are also of Italian ancestry (6.2%), along with some Asian ancestry residents (5.8%), among others. In addition, 11.6% of the residents of this neighborhood were born in another country.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Rainbow Park neighborhood spend between 15 and 30 minutes commuting one-way to work (55.5% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (67.0%) 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 (12.8%) . 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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