$252,528Average Value$190Average Price per Sq Ft86Homes For Sale
Fast-growing section of Marion and Levy counties
Rainbow Lakes Estates is a sprawling residential development north of Dunnellon proper, straddling the Marion-Levy county line between two state parks. “It’s a fast-growing area, super reasonably priced, where there’s a lot of land attached to the homes,” says Ocala-based Realtor Terry Morgan of Your Home Sold Guaranteed Realty, who has almost a decade of experience. He says the homes' price-per-square-foot and quiet, relatively remote location are the main reasons buyers are drawn to the community. “They can get a lot of bang for their buck here since they get all this land around these newer construction homes.”
There are mature trees around the neighborhoods of Rainbow Lakes Estates.
Land is available in various sizes around Rainbow Lakes Estates.
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New Traditional and ranch-style homes on acreages
The average lot size around these New Traditional and ranch-style homes is just over half an acre. Very few properties are separated by more than a thick grove of longleaf pine trees and a broad lawn, but split-rail fences around fields of horses or cattle are not uncommon. Home prices start at about $140,000 and go up to nearly $600,000. Buildable land lists for between $11,500 and $2.6 million, depending on the size and number of parcels.
Plenty of newly constructed homes are available in Rainbow Lakes Estates.
Ranch style homes are common in Rainbow Lakes Estates.
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A quick drive to Rainbow Springs State Park and Goethe State Forest
Sea Cliff Community Park, located in the neighborhood, has a covered playground, basketball court and walled handball courts. About 7 miles away, Rainbow Springs State Park features gardens and waterfalls by the Rainbow River. Boat rentals are available, but some visitors opt to swim the clear blue springs. Rustic hiking trails weave through the woods, following the river to the campsites at the park’s south end. Visitors often see wildlife, like the Florida black bear, bald eagles and gopher tortoises, while walking or camping in or around the swamps and sandhills of the Goethe State Forest. Fishing and seasonal hunting are permitted there, too.
Swim in the designated area in the crystal clear waters at Rainbow Springs State Park.
Buck Island Pond Trailhead is part of Goethe State Forest nearby to Rainbow Lakes Estates.
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Dunnellon High has college and career readiness programs
Marion County Public Schools serves Rainbow Lakes Estates kids. They’re zoned to Romeo Elementary, Dunnellon Middle and Dunnellon High, all of which earn B-minus grades from Niche. The high school offers almost 20 AP and Cambridge Advanced International Certificate of Education, or AICE, courses. College and career readiness programs available at Dunnellon High include welding, culinary arts and early childhood education, among others.
Dunnellon Middle School provides education in the neighborhood of
Dunnellon and serves Rainbow Lakes Estates.
Dunnellon High School is a public school serving 1,186 students in grades 9-12 nearby to Rainbow Lakes Estates.
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A car-dependent stretch of central Florida
The closest highways are U.S. Routes 41 and 98, several miles to the east and west, respectively. The nearest hospitals, including HCA Florida Ocala and AdventHealth Ocala, are almost 30 miles away. Gainesville has a small regional airport about 50 miles north. Orlando and Tampa are both about 100 miles away. Rainbow Lakes Estates’ CAP Index crime score is 2 out of 10, below the national average of 4.
Dunnellon has shopping and dining options
“There’s nothing in Rainbow Lakes Estates directly as far as restaurants or stores, so you have to go to Dunnellon for all that,” Morgan says. Retailers like Winn-Dixie, Tractor Supply and Walmart Supercenter line the Dunnellon stretch of U.S. Route 41, scattered between pharmacies, auto parts stores and fast-food chains. Swampy’s Bar & Grille has been a favorite local spot for homey Southern fare and live music since 2012. A family of otters lives on the Rainbow River near the restaurant’s dining deck. Sometimes, they make an appearance during the dinner rush. Blue Gator Tiki Bar & Restaurant does Southern-style seafood and airboat tours of the Withlacoochee River a couple miles away.
Winn Dixie supplies Rainbow Lakes Estates residents with all their grocery needs.
Swampy's Bar & Grill, is a fave of locals as well as tourist, for great fish sandwiches nearby to Rainbow Lakes Estates.
GreatSchools:
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
View GreatSchools Rating Methodology
Interested in learning more about homes in this area?
Reach out to
Deena Erickson-Klacko,
an experienced agent in this neighborhood.
Transit
Airport
Gainesville Regional
83 min drive
Crime and Safety
1 - Low Crime, 10 - High Crime
Rainbow Lakes Estates
US
Homicide
2
4
Sexual Assault
1
4
Assault with Weapon
2
4
Robbery
2
4
Burglary
2
4
Motor Vehicle Theft
1
4
Larceny
1
4
Crime Score
2
4
Source: WhatIsMyCrimeRisk.com
Rainbow Lakes Estates Demographics and Home Trends
On average, homes in Rainbow Lakes Estates, Dunnellon sell after 74 days on the market compared to the national average of 49 days. The median sale price for homes in Rainbow Lakes Estates, Dunnellon over the last 12 months is $239,900, up 3% from the median home sale price over the previous 12 months.
Discover the perfect opportunity to own a spacious 1.03-acre wooded lot in a rapidly growing neighborhood of Dunnellon, FL! Nestled in a serene and natural setting, this property offers the ideal blend of privacy and convenience. Whether you're looking to build your dream home, invest in land, or create a peaceful retreat, this lot has endless possibilities. Enjoy Florida’s outdoor lifestyle with
Nestled on 2.48 fully fenced acres, this incredible property offers the perfect blend of space, privacy, and versatility. The main home features 3 bedrooms and 2 baths, with a well-designed layout that invites natural light throughout. An attached 2-car garage provides everyday convenience, while the roof, replaced in 2021, ensures peace of mind for years to come. For those seeking additional
A 1-Acre Vacant Lot in Rainbow Lakes Estates – A Florida Outdoor Paradise! Discover the perfect opportunity to build your dream home on this spacious 1-acre lot in the sought-after Rainbow Lakes Estates community of Dunnellon, Florida! With 136 feet of frontage and 320 feet of depth, this lot offers ample space for a private retreat while still being conveniently close to everything you need.
Property Id: 1482269Stop looking. You just found your dreamhouse in a very quiet neighborhood. There is plenty of room for the kids to play in the oversized yard, surrounded by trees. Covered patio attached to the house. This 2 bedroom / 1 bathroom has been recently updated : new AC, new windows, new waterheater, new floors, and fresh paint all over.Blinds are installed, as well
One or more photo(s) has been virtually staged. Available June 23rd, 2025. FOR SALE OR RENT — YOUR SPACIOUS RAINBOW LAKES RETREAT AWAITS!First month rent is FREE if lease is executed by June 28th, 2025!Looking for more room, more comfort, and more value in Dunnellon? This 4-bedroom, 2-bath home in Rainbow Lakes Estates offers all that—and more!? NEW roof installed March 2025? New kitchen
3/1.5 SINGLE FAMILY HOME. LARGE LOT GARAGE AND SHED TILE THROUGH OUT, FRESHLY PAINTED, NICELY RENOVATED. TENANT PAYS ALL UTILITIES AND MAINTAIN LAWN. 1 SMALL PET WELCOME WITH NON-REFUNDABLE PET FEE. SEC. 8 VOUCHER WELCOME.
Interested in learning more about homes in this area?
Reach out to
Deena Erickson-Klacko,
an experienced agent in this neighborhood.
Average Home Value
Source: Public Records
Property Mix - Square Feet
This Neighborhood Has More Owners
Demographics
Total Population
3,597
Median Age
50
Population under 18
19.1%
On par with the national average
23.8%
Population over 65
29.2%
Above the national average
19.1%
Finances
Median Household Income
$43,478
Significantly below the national average
$71,702
Average Household Income
$52,791
Education and Workforce
High School Graduates
76.7%
College Graduates
14.5%
Below the national average
34.1%
Advanced Degrees
4.4%
% Population in Labor Force
43.2%
Below the national average
65.1%
Weather
Annual Precipitation
52''
Average Winter Low Temperature
47°F
Average Summer High Temperature
92°F
Annual Snowfall
0''
Area Factors
Somewhat Bikeable
Bike Score®
20/ 100
Car-Dependent
Walk Score®
0/ 100
Source: Walk Score
Source: Walk Score
Sound Score® measures the noise level of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address.
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
