Housing data for Rainbow Lakes, NJ
Rainbow Lakes, NJ has an estimated 1,375 residents and 540 homes (US Census Bureau, 2020–2024 American Community Survey).
It is an unincorporated community in Morris County.
32.6% of households rent.
The median gross rent is $2,022 a month.
Figures last updated on .
- Residents
- 1,375 (±196)
- Housing units
- 540 (±91)
- Households that rent
- 32.6%
- Median gross rent
- $2,022
What stands out in Rainbow Lakes
Homes heated by fuel oil: 0.0% (±8.0 points) in Rainbow Lakes, lower than in Morris County (13.9%).
Median household income: $93,051 (±$7,740) in Rainbow Lakes, lower than in Morris County ($137,326).
Median home value: $481,800 (±$59,954) in Rainbow Lakes, lower than in Morris County ($582,500).
Average commute: 24.4 minutes (±4.9) in Rainbow Lakes, lower than in Morris County (29.8 minutes).
- Heating fuel in Rainbow Lakes
- Income and affordability in Rainbow Lakes
- Home values in Rainbow Lakes
- Commute and cars in Rainbow Lakes
Housing in Rainbow Lakes at a glance
- Median rent: $2,022 median gross rent a month
- Rent by bedrooms: $2,130 median gross rent, 2 bedrooms (Small sample: wide margin of error)
- Rent burden: 39.8% of renters pay 30% or more of income (Small sample: wide margin of error)
- Renters and owners: 32.6% of households rent
- Income and affordability: $93,051 median household income
- Home values: $481,800 median home value
- Homeowner costs: $3,307 median monthly cost with a mortgage
- Property taxes: $9,309 median real estate taxes a year
- Types of homes: 19.4% of homes are in buildings of 5 or more units
- Bedrooms: 35.5% of homes have 3 or more bedrooms
- Age of homes: 83.3% of homes were built before 1980
- Vacancy rate: 0.0% rental vacancy rate (Small sample: wide margin of error)
- Heating fuel: 95.0% heat with utility gas
- Commute and cars: 24.4 minutes average trip to work
- How long people stay: 20.4% moved in since 2020 (Small sample: wide margin of error)
- Crowding and facilities: 4.1% of homes have more than 1 person per room (Small sample: wide margin of error)
Rainbow Lakes against Morris County, its state and the nation
| Rainbow Lakes | Morris County | New Jersey | United States | |
|---|---|---|---|---|
| Residents | 1,375 (±196) | 514,528 (exact) | 9,343,809 (exact) | 334,922,499 |
| Housing units | 540 (±91) | 199,506 (±100) | 3,791,354 (±469) | 143,775,355 |
| Households that rent | 32.6% (±11.6 points) | 25.7% (±0.8 points) | 36.2% (±0.2 points) | 34.8% |
| Median gross rent | $2,022 (±$225) | $1,904 (±$30) | $1,720 (±$7) | $1,413 |
| Median household income | $93,051 (±$7,740) | $137,326 (±$2,991) | $103,556 (±$513) | $80,734 |
| Median home value | $481,800 (±$59,954) | $582,500 (±$5,640) | $454,400 (±$1,150) | $332,700 |
| Median real estate taxes (a year) | $9,309 (±$634) | $10,000 or more | $9,590 (±$25) | $3,119 |
| Built before 1980 | 83.3% (±25.6 points) | 62.4% (±1.4 points) | 62.8% (±0.3 points) | 49.7% |
| Average commute | 24.4 minutes (±4.9) | 29.8 minutes (±0.4) | 30.5 minutes (±0.1) | 26.4 minutes |
| Households with broadband | 97.6% (±3.9 points) | 95.2% (±0.4 points) | 92.8% (±0.1 points) | 91.0% |
| Median age of residents | 38.7 years (±4.8) | 42.6 years (±0.2) | 40.1 years (±0.1) | 38.9 years |
Rainbow Lakes covers 1.1 square miles of land, about 1,253 residents per square mile (Census Bureau Gazetteer).
Crime reported to police in Morris County
Rainbow Lakes has no police department of its own in the FBI’s figures, so this is the figure for Morris County as a whole.
In 2024, the police departments that report for Morris County recorded 48 violent and 643 property crimes per 100,000 residents.
A county-wide figure describes the whole county, not this place; crime varies from one community to the next.
Places near Rainbow Lakes
| Place | Distance | Median gross rent | Median home value | Households that rent |
|---|---|---|---|---|
| Mount Tabor | 1.0 mi | — | $454,800 | 7.3% |
| Mountain Lakes Borough | 1.3 mi | $3,500 or more | $917,000 | 3.9% |
| Denville Township | 2.0 mi | $1,817 | $564,600 | 12.3% |
| Parsippany | 2.3 mi | $1,742 | $555,400 | 51.6% |
| Morris Plains Borough | 2.6 mi | $2,835 | $643,300 | 28.4% |
| Boonton Town | 3.3 mi | $1,849 | $495,400 | 37.9% |
| Troy Hills | 3.5 mi | $3,108 | $650,500 | 7.2% |
| Rockaway Borough | 3.6 mi | $1,587 | $448,100 | 39.6% |
Places in New Jersey most like Rainbow Lakes
| Place | Median gross rent | Median home value | Median household income | Households that rent |
|---|---|---|---|---|
| Singac | $2,073 | $427,400 | $104,519 | 23.8% |
| Little Falls Township | $1,843 | $481,300 | $123,307 | 28.8% |
| Hawthorne Borough | $1,830 | $533,700 | $110,237 | 30.9% |
| Neptune Township | $1,876 | $455,900 | $101,017 | 29.8% |
| Rochelle Park Township | $1,819 | $498,500 | $110,380 | 22.6% |
| Freehold Borough | $1,832 | $416,800 | $85,707 | 46.2% |
Matched on rent, home value, income, the share who rent, the age of the homes, the share in apartment buildings and the commute, each measured against the spread across New Jersey.
HUD Fair Market Rent for Rainbow Lakes, fiscal year 2027
| Studio | 1 bedroom | 2 bedrooms | 3 bedrooms | 4 bedrooms |
|---|---|---|---|---|
| $1,637 | $1,850 | $2,233 | $2,785 | $3,188 |
HUD income limits for Rainbow Lakes, fiscal year 2026
| Household size | Extremely low (30%) | Very low (50%) | Low (80%) |
|---|---|---|---|
| 1 person | $29,050 | $48,450 | $74,800 |
| 2 people | $33,200 | $55,400 | $85,450 |
| 3 people | $37,350 | $62,300 | $96,150 |
| 4 people | $41,500 | $69,200 | $106,800 |
| 5 people | $44,850 | $74,750 | $115,350 |
| 6 people | $48,150 | $80,300 | $123,900 |
| 7 people | $51,500 | $85,850 | $132,450 |
| 8 people | $55,720 | $91,350 | $141,000 |
These are the limits HUD sets for its housing programs in the Newark, NJ HUD Metro FMR Area, where HUD’s median family income for fiscal year 2026 is $138,400.
A program can use its own limits; tax-credit and local programs often do.
Rainbow Lakes is a census-designated place: an unincorporated community the Census Bureau draws for statistics, with no municipal government of its own.
It lies inside Parsippany-Troy Hills Township, whose figures include it.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Rainbow Lakes
What is the average rent in Rainbow Lakes, NJ?
The Census Bureau publishes the median rather than the average: the median gross rent in Rainbow Lakes is $2,022 (±$225) a month (2020–2024 American Community Survey), so half of renting households pay less and half pay more.
How many renters are there in Rainbow Lakes?
Rainbow Lakes has an estimated 176 (±75) renting households, 32.6% of its occupied homes (2020–2024 American Community Survey).
What is the median household income in Rainbow Lakes?
The median household income in Rainbow Lakes is $93,051 (±$7,740) a year (2020–2024 American Community Survey).
What is the average home value in Rainbow Lakes, NJ?
The Census Bureau publishes the median: $481,800 (±$59,954) for owner-occupied homes in Rainbow Lakes (2020–2024 American Community Survey).
What is the average mortgage payment in Rainbow Lakes?
The Census Bureau publishes total owner costs rather than the mortgage alone: the median for owners with a mortgage in Rainbow Lakes, NJ is $3,307 (±$326) a month, including taxes, insurance and utilities.
How much are property taxes in Rainbow Lakes?
The median real estate tax paid by homeowners in Rainbow Lakes, NJ is $9,309 (±$634) a year (2020–2024 American Community Survey).
Sources
- Demographic and Housing Estimates (DP05), 2020–2024 ACS 5-year estimates — Rainbow Lakes CDP, New Jersey
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Rainbow Lakes CDP, New Jersey
- Selected Economic Characteristics (DP03), 2020–2024 ACS 5-year estimates — Rainbow Lakes CDP, New Jersey
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2020–2024 ACS 5-year estimates — Rainbow Lakes CDP, New Jersey
- Selected Social Characteristics (DP02), 2020–2024 ACS 5-year estimates — Rainbow Lakes CDP, New Jersey
- Total Population (B01003), 2015–2019 ACS 5-year estimates — Rainbow Lakes CDP, New Jersey
- Median Gross Rent (B25064), 2015–2019 ACS 5-year estimates — Rainbow Lakes CDP, New Jersey
- HUD Fair Market Rents, fiscal year 2027: Newark, NJ HUD Metro FMR Area
- HUD Income Limits, fiscal year 2026: Newark, NJ HUD Metro FMR Area
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
- US Census Bureau, 2024 Gazetteer Files
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) for Rainbow Lakes CDP, New Jersey (place:61560, in state:34).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B01003_001E, B01003_001M, B25064_001E, B25064_001M from the 2019 release.
The API needs a free key.
DP05_0001E, DP05_0001M, DP04_0001E, DP04_0001M, DP04_0047PE, DP04_0047PM, DP04_0134E, DP04_0134M, DP03_0062E, DP03_0062M, DP04_0089E, DP04_0089M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .