Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Rainbow Lake area can be challenging. Home prices in Rainbow Lake are now at a median cost of $201,521, lower than the New York average of $481,023.
The average cost of rent is $946/mo in Rainbow Lake, primarily driven by the current value of real estate in the Rainbow Lake area. While nearly 59.85% of residents own their homes outright in Rainbow Lake, 20.63% rent.
Housing affordability isn’t just about home prices, though. The average household income in Rainbow Lake is $5,364 per month. Households that rent pay about 17.64% of their income on rent here. Rainbow Lake's most expensive areas are in the southwestern regions, while the cheapest areas are in the northeastern parts of the city.
Nearby Cities
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- Saranac Lake, NY: equally priced homes
Cities with Similar Populations
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- Aonia, GA: less expensive homes
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