What is the median home value in Rainbow Lakes, NJ?

The median value of owner-occupied homes in Rainbow Lakes, NJ is $481,800 (±$59,954), as owners estimated it in the Census Bureau’s 2020–2024 American Community Survey.

Figures last updated on .

Median home value
$481,800 (±$59,954)
Owner-occupied homes
364 (±77)
Most common range
$300,000 to $499,999

Home values in Rainbow Lakes

Owner-occupied homes by value, 2020–2024
ValueRainbow LakesMorris CountyNew JerseyUnited States
Less than $50,0000.0% (±11.6 points)1.2%2.5%5.3%
$50,000 to $99,9990.0% (±11.6 points)1.0%1.8%6.1%
$100,000 to $149,9990.0% (±11.6 points)0.6%2.2%6.8%
$150,000 to $199,9990.0% (±11.6 points)0.8%4.3%9.0%
$200,000 to $299,9996.9% (±9.7 points)5.1%12.9%17.8%
$300,000 to $499,99949.2% (±17.4 points)30.3%34.2%26.9%
$500,000 to $999,99938.5% (±17.2 points)50.2%34.5%20.9%
$1,000,000 or more5.5% (±6.2 points)10.8%7.6%7.1%

The most common range is $300,000 to $499,999, 49.2% of owned homes.

Value is the owner’s own estimate of what the home and lot would sell for, not a sale price or an assessment.

Rainbow Lakes against Morris County, its state and the nation

Estimate (90% margin of error)
Rainbow LakesMorris CountyNew JerseyUnited States
Median home value$481,800 (±$59,954)$582,500 (±$5,640)$454,400 (±$1,150)$332,700
Owner-occupied homes364 (±77)143,562 (±1,613)2,239,128 (±10,678)84,210,142

In Rainbow Lakes, the median home value is lower than in Morris County ($582,500).

It is not measurably different from New Jersey ($454,400).

It is higher than the national figure ($332,700).

In Morris County, Rainbow Lakes ranks 15 of 27 places with a published estimate, from highest to lowest median home value.

Statewide, it ranks 86 of 248.

Rankings use the estimates alone; where margins of error overlap, neighboring ranks may not truly differ.

Median home value in places near Rainbow Lakes

Nearest places with a published estimate, compared with Rainbow Lakes
PlaceDistanceMedian home valueCompared with this place
Rainbow Lakes—$481,800 (±$59,954)—
Mount Tabor1.0 mi$454,800 (±$36,738)Not measurably different
Mountain Lakes Borough1.3 mi$917,000 (±$70,958)Higher
Denville Township2.0 mi$564,600 (±$32,188)Higher
Parsippany2.3 mi$555,400 (±$20,373)Higher
Morris Plains Borough2.6 mi$643,300 (±$26,749)Higher
Boonton Town3.3 mi$495,400 (±$37,170)Not measurably different
Troy Hills3.5 mi$650,500 (±$22,941)Higher
Rockaway Borough3.6 mi$448,100 (±$27,438)Not measurably different

Nearby places with a measurably higher figure: Mountain Lakes Borough, NJ ($917,000), Denville Township, NJ ($564,600), Parsippany, NJ ($555,400).

Distance is measured in a straight line between the Census Bureau’s internal points for each place.

Median home value across Morris County, place by place

RankPlaceMedian home value
9Gillette$635,900 (±$41,495)
10Whippany$615,400 (±$29,611)
11Parsippany$555,400 (±$20,373)
12Flanders$552,900 (±$45,377)
13Pompton Plains$539,000 (±$42,519)
14Succasunna$529,100 (±$26,737)
15Rainbow Lakes$481,800 (±$59,954)
16White Meadow Lake$470,800 (±$15,026)
17Lake Telemark$464,100 (±$48,050)
18Long Valley$461,900 (±$24,856)
19Ledgewood$460,900 (±$26,605)
20Budd Lake$456,100 (±$15,191)
21Mount Tabor$454,800 (±$36,738)

Showing 13 of 27 places in Morris County, ranked from highest to lowest.

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 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).

Is this what homes in Rainbow Lakes sell for?

No: it is the value owners reported, which tends to lag the market; recent sale prices and an appraisal answer that question.

Sources

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 B25077_001E, B25077_001M, B25088_002E, B25088_002M, B25103_001E, B25103_001M from the 2019 release.

The API needs a free key.

Request a Census API key.

DP04_0089E, DP04_0089M, DP04_0046E, DP04_0046M, DP04_0081PE, DP04_0081PM, DP04_0082PE, DP04_0082PM, DP04_0083PE, DP04_0083PM, DP04_0084PE, DP04_0084PM, DP04_0085PE, DP04_0085PM, DP04_0086PE, DP04_0086PM, DP04_0087PE, DP04_0087PM, DP04_0088PE, DP04_0088PM

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 .

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