Why Live in Rainbow Lakes
Rainbow Lakes gets its name from the sprawling park that runs through it, but it’s also named after the small lake on the community’s west side, which gives many residents tranquil water views. This HOA-free neighborhood in Pembroke Pines is almost entirely residential, safe for the park and a small cluster of restaurants and services along Taft Road. Residents enjoy quiet suburban streets with plenty of sidewalks and trees, plus proximity to the city’s major shopping centers, green spaces and the airport. Homes in Rainbow Lakes are mainly ranch-style with three or four bedrooms, built in the 1970s and 1980s. They sit close together on landscaped lawns dotted with mature trees. Garages and driveways are standard, and backyards often feature pools. Prices range from $575,000 to $700,000. Higher-priced homes often feature backyard water views. A small selection of two-bedroom townhouses is located on the neighborhood’s south side, typically priced around $350,000. Broward County Public Schools serves the area and offers School Choice. The schools zoned to the neighborhood are Pasadena Lakes Elementary, which rates a B on Niche; Pines Middle, which rates a C-plus; and Charles W.
Frequently Asked Questions
Is Rainbow Lakes a good place to live?
Rainbow Lakes is a good place to live. Rainbow Lakes is considered car-dependent and somewhat bikeable with minimal transit options. Rainbow Lakes has 2 parks for recreational activities. It has a median age of 38. The average household income is $110,065 which is above the national average. College graduates make up 12.4% of residents. A majority of residents in Rainbow Lakes are home owners, with 22% of residents renting and 78% of residents owning their home. A
local real estate agent serving Rainbow Lakes can help you decide if this neighborhood is the right one for you. Learn more on our
Rainbow Lakes neighborhood guide.
Is Rainbow Lakes, FL a safe neighborhood?
Rainbow Lakes, FL is safer than the average neighborhood in the United States. It received a crime score of 3 out of 10.
How much do you need to make to afford a house in Rainbow Lakes?
The median home price in Rainbow Lakes is $371,751. If you put a 20% down payment of $74,400 and had a 30-year fixed mortgage with an interest rate of 6.74%, your estimated principal and interest payment would be $1,930 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $83K a year to afford the median home price in Rainbow Lakes. The average household income in Rainbow Lakes is $110K.
What are the best public schools in Rainbow Lakes?
The best public schools that serve Rainbow Lakes are:
What are the best private schools in Rainbow Lakes?
The best private schools that serve Rainbow Lakes are:
What are the most popular zip codes in Rainbow Lakes, Pembroke Pines, FL?
What are the most popular neighborhoods near Rainbow Lakes, Pembroke Pines, FL?
Home Trends in Rainbow Lakes, FL
On average, homes in Rainbow Lakes, Pembroke Pines sell after 118 days on the market compared to the national average of 70 days. The median sale price for homes in Rainbow Lakes, Pembroke Pines over the last 12 months is $310,395, down 7% from the median home sale price over the previous 12 months.
Median Sale Price
$310,395
Median Single Family Sale Price
$310,395
Median 1 Bedroom Sale Price
$260,000
Average Price Per Sq Ft
$223
Number of Homes for Sale
3
Last 12 months Home Sales
4
Median List Price
$371,751
Median Change From 1st List Price
17%
Median Home Sale Price YoY Change
-7%