Home prices
The value of the median home in Rainbow City is $166,100. This is about $60,180 (56%) higher in comparison to other places in this area.Compared to the rest of the nation it is approximately $51,400 (23%) lower, and in comparison to the city of Birmingham it is approximately $75,000 (82%) higher.
Rents
Rainbow City's median monthly rent is $797. In comparison to the surrounding areas this is about $95 (13%) higher.Compared to the United States as a whole it is roughly $265 (24%) lower, and is about $40 (4%) lower compared to the city of Birmingham.
Nearby places
Steele
Steele is Rainbow City's neighbor to the west. Real estate prices there are significantly less expensive. The median home price in Steele is $76,200, which works out to $89,900 (117%) lower than Rainbow City. Its rents are similar. In Steele the median monthly rent is $824, which works out to $27 (3%) higher than Rainbow City.
Gadsden
Gadsden is Rainbow City's neighbor to the northeast. Its housing prices are a lot less expensive. The cost of the median home in Gadsden is $73,600, which works out to $92,500 (125%) lower than Rainbow City. The rent there is a bit less expensive. The median monthly rent in Gadsden is $645, which is $152 (23%) lower than Rainbow City.
Southside
Southside is approximately 4 miles southeast from Rainbow City. Housing prices there are somewhat less expensive. The median home in Southside is valued at $153,100, which is $13,000 (8%) lower than Rainbow City. Rents there are a little more expensive. In Southside the median rent is $942 a month, which is $145 (15%) higher than Rainbow City.
Attalla
Attalla is approximately 5 miles north of Rainbow City. The real estate prices there are significantly less expensive. The median home in Attalla costs $72,200, which comes out to $93,900 (130%) lower than Rainbow City. Rents there are a lot less expensive. In Attalla the median rent is $542 per month, which works out to $255 (47%) lower than Rainbow City.
Glencoe
Glencoe is about 8 miles east from Rainbow City. Housing prices there are a bit less expensive. The median home price in Glencoe is $154,500, which works out to $11,600 (7%) lower than Rainbow City. Rents there are significantly less expensive. The median rent in Glencoe is $556 per month, which comes out to $241 (43%) lower than Rainbow City.
