Rainbow City, AL Real Estate
According to census data in the year 2000 there were 3,850 housing units in Rainbow City.
This represents a 21.4% growth from 3,172 in 1990.
Of those housing units, 2,607 were located in either urbanized areas or urban clusters, and 1,243 were located in what is classified as a rural area.
Homeownership rate in Rainbow City is about 68.3%.
Rainbow City's vacancy rate, including seasonal lodging, is about 5.8%.
Average household size is 2.37 people.
The majority of houses, apartments or condos in Rainbow City were built after 1977.
|Housing Units by Size|
|Five Bedrooms or more||2.90%|
Owned Homes, Apartments and Condos
|Average Household Size||2.49|
|Median year structure was built||1976|
|Median Value of occupied units||$108,200|
|Median Price asked for vacant units||$108,900|
Rented Homes, Apartments and Condos
|Average Household Size||2.12|
|Median year structure was built||1981|
|Median Monthly Rent asked for vacant units||$405|
Owners Finance Status
|Second Mortgage & Equity Loan||0.50%|
|Home Equity Loan||7.80%|
|Median part of Monthly Household Income dedicated to covering home ownership costs||15.1%|