Waterfront living without the high price tag in Rainbow Springs
The neighborhood of Rainbow Springs gets its name from the large state park and winding river located within it. While only a small portion of homes back up to the water, Jeanne Herzig-Arena, a Realtor with Professional Realty of Ocala who sells throughout Marion County, says the whole area has the remote feel of a waterfront community, and residents get the same laid-back vibe without paying the inflated prices of coastal homes. “I think that’s the main draw,” she says. “You get that waterfront feel without having to live on the coast.”
Diverse housing options from condos to riverfront estates
On the neighborhood’s east side, houses sit a bit close together yet still boast large front and back yards. Most have three or four bedrooms and were built after 1980. Ranch-style homes are most common for older homes, and new construction boasts New Traditional styles. Prices range from $230,000 to $650,000, with higher-priced homes featuring recent renovations. Large homes, often with four or more bedrooms, sit along the Rainbow River. They average around $1 million and have backyard water views. West of Highway 41, lot sizes are bigger. Home sizes and styles are like those on the east side and range from $220,000 to $580,000. Higher-priced homes often sit on acre lots and were built in the 2020s or are newly renovated. A small selection of two-bedroom condos is available on the neighborhood’s east side, ranging from $175,000 to about $200,000.
While the Rainbow River doesn't often flood, there is still a chance during severe weather. Homeowners can purchase flood insurance through the National Flood Insurance Program. Regarding crime, Rainbow Springs has a 1 out of 10 on the CAP Index, three points lower than the national average.
Golfing, hiking, and equestrian activities nearby
Rainbow Springs State Park is on the neighborhood’s east side and is a popular outdoor recreation spot for locals and out-of-towners alike. Swimming, tubing, canoeing, and kayaking are allowed in the springs. Its nature trails are popular with hikers, runners and birders. The neighborhood HOA has a private park for residents on the Rainbow River with barbecue grills and gazebos. Juliette Falls Golf Course is open to the public and is loved for its challenging and picturesque 18-hole layout. While the Rainbow Springs Golf Course closed in 2014, the club is still open and offers a restaurant and community pool. Blue Run Park is about 5 miles from the neighborhood, and Herzig-Arena says the proximity is a big perk for many residents. “You can launch your boat or go for a walk. There’s a trail that connects to the Florida Greenway where you can do your biking,” she says. For those who ride horses, Ocala’s many equestrian stables and facilities, including the notable World Equestrian Center, are less than 20 miles away.
Groceries in the neighborhood, dining in Downtown Dunnellon
Winn-Dixie is located within the neighborhood and is a convenient place to pick up groceries. Publix, Walmart, services and chain restaurants line Highway 41 just outside of the neighborhood. Downtown Dunnellon, about 4 miles away, has galleries, boutiques, and a mix of restaurants. Herzig-Arena says a standout is locally owned Paige’s off East Pennsylvania Avenue. “It’s a great place to grab a burger and a homemade root beer,” she says.
Students have many options through Marion County Public Schools
The schools zoned to the neighborhood are Dunnellon Elementary, Dunnellon Middle, and Dunnellon High. All three schools have a B-minus rating on Niche. Dunnellon High offers multiple clubs and organizations, including Fellowship of Christian Athletes, Literary Club, and Future Business Leaders of America. Marion County Public Schools, which the schools are a part of, offers controlled open enrollment, allowing families to choose any school in the state that isn’t at capacity.
Nearby highways get residents where they need to go
Highway 41 leads to Downtown Dunnellon. State Road 40 runs along the neighborhood’s north side and connects to Interstate 75 and Ocala. Marion County Airport is right outside the neighborhood, but it is only for private planes. The closest major airport is Ocala International, about 20 miles away.
GreatSchools:
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Rainbow Springs Demographics and Home Trends
On average, homes in Rainbow Springs, Dunnellon sell after 87 days on the market compared to the national average of 53 days. The median sale price for homes in Rainbow Springs, Dunnellon over the last 12 months is $347,275, up 4% from the median home sale price over the previous 12 months.
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