Rainbow Park median real estate price is $2,871,545, which is more expensive than 96.6% of the neighborhoods in California and 99.4% of the neighborhoods in the U.S.
The average rental price in Rainbow Park is currently $5,642, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.0% of the neighborhoods in California.
Rainbow Park is an urban neighborhood (based on population density) located in San Jose, California.
Rainbow Park 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 Park neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
In Rainbow Park, the current vacancy rate is 2.4%, which is a lower rate of vacancies than 84.0% of all neighborhoods in the U.S. This means that the housing supply in Rainbow Park is very tight compared to the demand for property here.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in San Jose, the Rainbow Park neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
People
If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 1.3% of America's neighborhoods are wealthier than the Rainbow Park neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, Rainbow Park also has one of the lowest ratings of child poverty in the nation.
In addition, if knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Rainbow Park neighborhood, where 51.4% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.4% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 99.3% of the neighborhoods in America.
Also, a majority of the adults in the Rainbow Park 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 California by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 97.0% of the neighborhoods in California. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for urban sophisticates and families with school-aged children.
Occupations
The Rainbow Park neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.5% of the neighborhoods in America. In fact, 83.0% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Modes of Transportation
A unique way of commuting is simply not to. And in the Rainbow Park neighborhood, analysis shows that 30.1% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 96.9% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.
Real Estate
One way that the Rainbow Park neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 96.2% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.
Diversity
Did you know that the Rainbow Park neighborhood has more Asian and Czechoslovakian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 80.7% of this neighborhood's residents have Asian ancestry and 0.5% have Czechoslovakian ancestry.
Rainbow Park is also pretty special linguistically. Significantly, 41.7% of its residents five years old and above primarily speak Chinese at home. This is a higher percentage than 99.8% of all U.S. neighborhoods.
Migration / Stability
Do you like to be surrounded by people from all over the country or world, with different perspectives and life experiences? Or do you instead prefer to be in a neighborhood where most residents have lived there for a long time, creating a sense of cohesiveness? NeighborhoodScout's analysis reveals that this neighborhood stands out among American neighborhoods for the uniqueness of the mobility of its residents. What is interesting to note, is that the Rainbow Park neighborhood has a greater percentage of residents born in another country (56.4%) than are found in 98.8% of all U.S. neighborhoods.
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 Park neighborhood in San Jose 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 98.7% 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.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Rainbow Park neighborhood, 83.0% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 7.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (5.5%), and 4.2% in manufacturing and laborer occupations.
Languages
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Rainbow Park neighborhood is Chinese, spoken by 41.7% of households. Other important languages spoken here include English, Langs. of India and Korean.
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 Park neighborhood in San Jose, CA, residents most commonly identify their ethnicity or ancestry as Asian (80.7%). There are also a number of people of German ancestry (2.9%), and residents who report English roots (2.5%), and some of the residents are also of Italian ancestry (2.0%), along with some Mexican ancestry residents (1.6%), among others. In addition, 56.4% of the residents of this neighborhood were born in another country.
Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Rainbow Park neighborhood spend between 15 and 30 minutes commuting one-way to work (40.7% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (57.1%) drive alone in a private automobile to get to work. In addition, quite a number also ride the bus to get to work (5.7%) and 5.6% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.
