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Rainbow

Learn about the people, housing, costs and businesses in Rainbow, Arizona

Median Home$62,119
Median Rent$554/month
Population931
Leading IndustryRetail18% of local workforce
Home Value Growth+9.4% over 2 years
Young Adults29% of residentsslightly above average
Renters53% of occupied units
NotableAffordable Market$62k median home · lower cost than 99% of the country
Rainbow City
AZ

Frequently Asked Questions

What are today's mortgage rates in Rainbow?

As of today, the 30-year fixed mortgage rate for Rainbow is approximately 6.990% (7.032% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Rainbow?

The median home value in Rainbow is $62k. The median monthly rent is $554. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Rainbow?

Home values in Rainbow have increased 9.4% over the past two years. This represents moderate growth. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Rainbow?

Based on a typical all-in ownership cost of $336/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $14k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Rainbow is $34k/year.

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What industries drive the economy in Rainbow?

The largest employment sectors in Rainbow are public administration (24%) and retail (18%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.