Rainbow Lakes, NJ
Population 1,376 · New Jersey
About Rainbow Lakes, NJ
Rainbow Lakes is a small town located in New Jersey with a population of 1,376 residents according to the latest US Census Bureau American Community Survey data. The median household income is $109,083 per year, which is 45% above the national median of $75,149. The median age of 31.7 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Rainbow Lakes features a median home value of $531,700, which is 117% above the national median of $244,900. This places Rainbow Lakes in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $2,079, 79% above the national average of $1,163/month. Of the 534 total housing units, 65% are owner-occupied (347 units) and 35% are renter-occupied (187 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Rainbow Lakes shows an unemployment rate of 4.1%, which is near the national rate of 3.7%. The poverty rate stands at 3.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Rainbow Lakes have an average one-way commute time of 23 minutes.
Education & Demographics
62.8% of Rainbow Lakes residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 2.6% White, 1.7% Hispanic or Latino, 5.2% Black or African American, and 0.7% Asian residents, with 20.6% of the population being foreign-born.
Cost of Living in Rainbow Lakes, NJ
Compared to national averages, Rainbow Lakes has a median household income of $109,083 (45% above the national median of $75,149). Home values average $531,700, which is 117% above the national median. Monthly rent at $2,079 is 79% above the US average of $1,163. Within New Jersey, Rainbow Lakes's income is 6% below the state average of $115,667, and home values are 13% above the state median of $469,644.
Why Live in Rainbow Lakes, NJ?
Rainbow Lakes offers a strong local economy with a median household income of $109,083, well above the national average, and a well-educated community where 62.8% of residents hold a bachelor’s degree or higher, and a low poverty rate of 3.7%, better than the national average. Additionally, the city features short commute times averaging just 23 minutes.
Potential considerations include a competitive housing market where the typical home costs $531,700. However, Rainbow Lakes’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Rainbow Lakes has a population of 1,376 with a median age of 31.7 years. Compare Rainbow Lakes with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Rainbow Lakes
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Pemberton | 1,373 | $88,333 | $303,200 | Compare |
| Centre Grove | 1,371 | $104,028 | $209,300 | Compare |
| Chester | 1,359 | $152,578 | $640,400 | Compare |
| Kean University | 1,359 | $0 | $0 | Compare |
| Farmingdale | 1,399 | $97,574 | $401,000 | Compare |
| Victory Lakes | 1,403 | $97,273 | $228,000 | Compare |
| Sunset Lake | 1,341 | $53,663 | $539,200 | Compare |
| Chesilhurst | 1,340 | $89,904 | $215,100 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New Jersey
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Rainbow Lakes With Other Cities
Frequently Asked Questions about Rainbow Lakes
What is the population of Rainbow Lakes, NJ?
The population of Rainbow Lakes, NJ is 1,376 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in New Jersey.
What is the median household income in Rainbow Lakes?
The median household income in Rainbow Lakes, NJ is $109,083 per year, which is 45% above the national median of $75,149.
What is the median home value in Rainbow Lakes?
The median home value in Rainbow Lakes, NJ is $531,700, which is 117% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Rainbow Lakes?
The median monthly rent in Rainbow Lakes, NJ is $2,079, which is 79% above the national average of $1,163/month.
What is the unemployment rate in Rainbow Lakes?
The unemployment rate in Rainbow Lakes, NJ is 4.1%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Rainbow Lakes, NJ a good place to live?
Rainbow Lakes offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 1,376 and a median age of 31.7, the city appeals to young professionals and families.
How educated is Rainbow Lakes, NJ?
62.8% of residents in Rainbow Lakes aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Rainbow Lakes?
Key cost-of-living indicators for Rainbow Lakes, NJ: median home value is $531,700 (117% above national), median rent is $2,079/month, and median household income is $109,083. The home-value-to-income ratio is 4.9x, a moderate figure by national standards.
What is the poverty rate in Rainbow Lakes?
The poverty rate in Rainbow Lakes, NJ is 3.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Rainbow Lakes, NJ?
Rainbow Lakes's population is 2.6% White, 1.7% Hispanic or Latino, 5.2% Black or African American, 0.7% Asian, and 0.7% two or more races. 20.6% of residents are foreign-born.