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Rainbow, VIC 3424
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$190,000
market range $150K-$225K
Median Unit
$405,000
Gross Yield
-
1yr Growth (houses)
+4.3%
market range -12.5% to +15.0%
Investment snapshot for Rainbow
Rainbow has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Rainbow market and investor summary
In Rainbow, VIC 3424, the median house sells for around $190K. House prices have moved +4.3% over the past year. At 1.7% vacancy, it is a tight rental market that favours landlords.
Living in Rainbow: people, income and schools
About 672 people live in Rainbow, a count that has slipped about 3% over five years. At a median age of 56, it reads as an older, established demographic, and 81% of homes are owner-occupied. Owner-occupiers dominate, so stock turns over slowly and listings can be thin when you are trying to buy.
The typical household income runs to around $54,000 a year (about $1,050 a week). On socio-economic measures it ranks around the national middle on the ABS advantage index (4 out of 10). At current prices a median house runs to roughly 3.5 times local household income, leaving more headroom than most capital-city markets. Incomes have risen about 13% over five years, which tends to underpin what local buyers can pay.
There is 1 school within about 5km, testing close to the national school average on ICSEA. It is fairly car-dependent; the suburb scores 4 for walkability out of 100. Fixed broadband is delivered over the NBN's Fixed Wireless.
- Population
- 672
- -3% over 5yr
- Median age
- 56 years
- Median household income
- $54,000/yr
- Households renting
- 11%
- Family households
- 61%
- Socio-economic rank
- 4/10
- ABS advantage index
- Schools within 5km
- 1
- avg ICSEA 965
- Unemployment
- 2.0%
- Walk score
- 4/100
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Rainbow
No properties currently listed in Rainbow
Search Rainbow listings →Frequently asked questions about Rainbow
What should I check before investing in Rainbow?
Rainbow has enough public data for first-pass screening across yield, vacancy, price and supply signals. Capital growth of +4.3% in the past year shows positive recent price momentum. Tight rental market (1.7% vacancy) gives landlords pricing power and low rental downtime. Compare those signals with nearby suburbs and individual listings before relying on the suburb-level view.
What are typical property prices in Rainbow?
The median property price in Rainbow, VIC 3424 is $190K for houses and $405K for units.
What does recent house price growth show for Rainbow?
House prices in Rainbow are up 4.3% over the past year. Capital growth is a key driver of total investment return, so pair it with rental yield to get a full picture.
How tight is the rental market in Rainbow?
The current vacancy rate in Rainbow is 1.7%. A rate under 2% generally signals a tight rental market. This suburb's rental market is very tight, with landlords typically holding strong bargaining power and low rental downtime.
How many people live in Rainbow?
Rainbow has a population of approximately 672 residents, with a median age of 56.
What schools are near Rainbow?
There are 1 school within roughly 5km of Rainbow. Their average ICSEA is close to the national mean of 1000. ICSEA is the ABS measure of a school community's socio-educational advantage.
Is Rainbow affordable to buy in?
A median house in Rainbow costs about 3.5 times the median local household income (more affordable than most capital-city markets). The ratio compares the median house price with annual household income; it is a rough affordability gauge, not a substitute for your own borrowing assessment.
Is Rainbow's population growing?
The population of Rainbow has fallen about 3% over five years. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
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