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Rainbow Lakes, NJ
Full City Profile · New Jersey · Morris County County
4.1
/5.0
A
Great
1,376
Population
1,251/sq mi density
$109,083
Median Income
$49,371 per capita
$531,700
Home Value
$1,156,954 Zillow
$2,079
Median Rent
27.2% income on rent
52°F
Avg Temperature
275 sunny days/yr
A
Overall
4.1 / 5.0
Strong
A+
Economy
4.8 / 5.0
$109,083 median income, 3.6% unemployment
B+
Affordability
3.9 / 5.0
$531,700 home value, $2,079/mo rent
C+
Safety
2.5 / 5.0
0 violent crimes/100K
A+
Education
5.0 / 5.0
62.8% bachelor's degree or higher
Housing Overview
Median Home Value
$531,700
89% above
US avg: $281,900
Median Rent
$2,079/mo
79% above
US avg: $1,163/mo
Homeownership Rate
65.0%
1% below US avg (65.4%)
Total Housing Units
478
Median year built: 1960
Home Value by Source
Census Median
$531,700
Zillow (ZHVI)
$1,156,954
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
65.0%
Owner-Occupied
35.0%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$1,599/mo
1 Bedroom
$1,759/mo
2 Bedroom
$2,132/mo
3 Bedroom
$2,658/mo
4 Bedroom
$3,005/mo
Census median rent:
$2,079/mo
Affordability & Housing Stock
Rent Burden
27.2%
of renters spending 30%+ of income on housing
12% below US avg (31.0%)
Median Year Built
1960
Average age of housing stock: 66 years
Homeownership Rate
65.0%
Complete Housing Data
Home Values
| Census Median Value | $531,700 |
| Zillow Home Value (ZHVI) | $1,156,954 |
Rent
| Census Median Rent | $2,079 |
| FMR Studio | $1,599 |
| FMR 1-Bedroom | $1,759 |
| FMR 2-Bedroom | $2,132 |
| FMR 3-Bedroom | $2,658 |
| FMR 4-Bedroom | $3,005 |
Market
Ownership & Stock
| Owner-Occupied | 65.0% |
| Renter-Occupied | 35.0% |
| Homeownership Rate | 65.0% |
| Total Housing Units | 478 |
| Median Year Built | 1960 |
| Rent Burden | 27.2% |