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Real Estate Prices & Overview

Rainbow median real estate price is $554,397, which is more expensive than 91.8% of the neighborhoods in Missouri and 69.1% of the neighborhoods in the U.S.

The average rental price in Rainbow is currently $2,155, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 89.6% of the neighborhoods in Missouri.

Rainbow is a rural neighborhood (based on population density) located in Independence, Missouri.

Rainbow real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Rainbow neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Real estate vacancies in Rainbow are 3.2%, which is lower than one will find in 78.9% of American neighborhoods. Demand for real estate in Rainbow is above average for the U.S., and may signal some demand for either price increases or new construction of residential product for this neighborhood.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

People

In a nation where 1 out of every 4 children lives in poverty, the Rainbow neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, a majority of the adults in the Rainbow neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for Missouri by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 99.2% of the neighborhoods in Missouri. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for active retirees, families with school-aged children and urban sophisticates.

Also, astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 96.2% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the Rainbow neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Rainbow neighborhood in Independence are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 88.4% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Rainbow neighborhood, 56.5% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 17.4% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (14.4%), and 11.7% in sales and service jobs, from major sales accounts, to working in fast food restaurants.

Languages

The most common language spoken in the Rainbow neighborhood is English, spoken by 96.2% of households.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Rainbow neighborhood in Independence, MO, residents most commonly identify their ethnicity or ancestry as German (25.1%). There are also a number of people of English ancestry (16.3%), and residents who report Irish roots (11.1%), and some of the residents are also of Italian ancestry (3.4%), along with some French ancestry residents (2.9%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Rainbow neighborhood spend between 15 and 30 minutes commuting one-way to work (42.5% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (78.4%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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