The housing market in 35906 Rainbow City, AL is performing above the national average. The median value of a home in this area is $218,900, which is significantly lower than the US house median value of $338,100. Additionally, houses in this area have appreciated more than those across the nation; over the past year, home appreciation has been 17.72% compared to 8.27% nationally. This combination of a low median price and high appreciation rate makes Rainbow City an attractive option for potential homeowners.
The median home cost in Rainbow City (zip 35906) is $218,900. Home appreciation the last 10 years has been 65.1%. Home Appreciation in Rainbow City (zip 35906) is up 17.9%.
Average Age of Homes
- The median age of Rainbow City (zip 35906) real estate is 32 years old
The Rental Market in Rainbow City (zip 35906)
- Renters make up 31.9% of the Rainbow City (zip 35906) population
- 4.3% of houses and apartments in Rainbow City (zip 35906), are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.