Rainbow Lake Home for Sale

Rainbow Lake is a good place to live. Rainbow Lake is considered very car-dependent and somewhat bikeable. Rainbow Lake has 1 park for recreational activities. It has a median age of 49. The average household income is $194,494 which is above the national average. College graduates make up 68.4% of residents. A majority of residents in Rainbow Lake are home owners, with 7.5% of residents renting and 92.5% of residents owning their home. A local real estate agent serving Rainbow Lake can help you decide if this neighborhood is the right one for you. Learn more on our Rainbow Lake neighborhood guide.

Rainbow Lake, TX is safer than the average neighborhood in the United States. It received a crime score of 3 out of 10.

The median home price in Rainbow Lake is $469,900. If you put a 20% down payment of $94,000 and had a 30-year fixed mortgage with an interest rate of 6.74%, your estimated principal and interest payment would be $2,440 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $105K a year to afford the median home price in Rainbow Lake. The average household income in Rainbow Lake is $194K.

The best public schools that serve Rainbow Lake are:

• Rockwall-Heath High School has an A Niche grade, a student teacher ratio of 18:1 and an average review score of 4.0.
• Maurine Cain Middle School has an A Niche grade, a student teacher ratio of 20:1 and an average review score of 3.3.
• Amy Parks-Heath Elementary School has an A Niche grade and a student teacher ratio of 19:1.

The most popular zip codes in Rainbow Lake, Heath, TX include 75032, 75087, 75126, 75088 and 75089.

The most popular neighborhoods near Rainbow Lake, Heath, TX are Glen Hill, Buffalo Creek, Foxchase, Benton Woods and Chandlers Landing.

Yes, home prices in Rainbow Lake are down 9% in the last 12 months.