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.
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 69 days. The median sale price for homes in Rainbow Lakes, Pembroke Pines over the last 12 months is $310,395, down 8% 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
-8%