$623,497Average Value$478Average Price per Sq Ft1Home For Sale
Six lakes, interstate access and community events in one neighborhood
Rainbow Lakes is a lakefront community in Parsippany-Troy Hills Township, tucked between U.S. Route 46 and Interstate 80. Michele “Shelly” DeMartino is a sales associate at Coldwell Banker Realty who has been a Rainbow Lakes resident for over 24 years. “I’d say about 50% of people who move here are referrals, so they may have friends or family who live here,” DeMartino says. “Or, they drive through on the weekend and see the lakes. Denville proper has many lake communities, and they’re all unique, but Rainbow is a special little place. I just sold a home on Glenwood Road. My sign was in the ground for two days.” DeMartino says she’s seen a recent shift as older residents move out of state and younger families move into the community. Many people work from home, but Rainbow Lake’s access to the interstate means Manhattan workers have a direct route to New York City. Rainbow Lakes is a place to live within walking distance from lakeside fun while still having access to nearby downtown Denville and Manhattan.
Lakefront homes from $550,000
Cape Cods, split-levels and ranch-style homes are throughout Rainbow Lakes. Home prices often range between $350,000 and $550,000, while waterfront homes can sell for $550,000 to $750,000. “Unlike a lot of lake communities west of us, we use public utilities, not septic,” DeMartino says. “We have our own fire department, which many lake communities don’t.” Homeowners pay $425 annually for the community's Mandatory Annual Easement Assessment. The money funds the maintenance of the community’s amenities and lakes.
Rainbow Lakes exudes a welcoming charm, where well-maintained homes like this one, framed by mature trees and bathed in sunlight, offer a tranquil and inviting haven for residents.
Rainbow Lakes offers an exclusive waterfront lifestyle, where homes gracefully line the tranquil lake, creating a picturesque haven for residents.
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Relaxing by Main and Upper Rainbow Lakes
Rainbow Lakes has six lakes where residents can go fishing, swimming or kayaking. “Almost all the roads are connected to the lakes, so it’s hard to miss them,” DeMartino says. DeMartino also points out that the Main and Upper Rainbow Lakes see the most activity. Freezing winter weather doesn’t stop residents from enjoying lake life. When the water is frozen, the lake becomes ready for ice hockey or skating. Some residents walk the gravel path that leads to Rainbow Lakes Park’s baseball field and playground. The baseball field doubles as a grassy area for dogs to run around. Rainbow Lakes also has a fenced-in tennis court that only residents can access.
Rainbow Lakes Park
Rainbow Lakes presents an idyllic panorama of lakeside residences, where charming homes nestle along the serene shoreline, offering a tranquil retreat from the everyday.
Homes in Rainbow Lakes have Denville addresses, but the community falls in the Parsippany-Troy Hills Township School District, which gets an A from Niche. Students attend the A-rated Intervale Elementary School and Brooklawn Middle School, which earns an A-minus. Many students attend Parsippany Hills High School, which gets an A.
Intervale Elementary School is a well rated public school in Boonton, NJ.
Brooklawn Middle School is located in Parsippany-Troy Hills, NJ.
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Driving to Manhattan or catching the train in Denville
Dense trees create a barrier between homes in the west and commercial parks in the east, filled with corporate offices and distribution centers. Some residents take a brief drive down U.S. Route 46 to work in these offices, but some also use Interstate 80 for a roughly 35-mile trip to New York City. Interstate 287 is also nearby and leads south to spots like historic Morristown. Commuters can also park at nearby Denville station and take the M&E train to Penn Station in New York. The ride usually lasts over an hour. Saint Clare’s Denville Hospital is about 3 miles from the community.
Community events organized by and for residents
The Rainbow Lakes Community Club Board of Trustees, which DeMartino is a member of, organizes events to bring neighbors together. In November, the Rainbow Lakes Holiday Craft Fair is held at the community's clubhouse, and the Rainbow Lakes Volunteer Fire Company hosts its annual Fish & Chips Dinner fundraiser in March.
Downtown Denville destinations
Waterview Marketplace off Route 46 has a Whole Foods Market, and there’s also an ACME Market in Denville. When it comes to dining out or shopping locally, downtown Denville is a popular destination. “We’re 1 mile from downtown Denville,” DeMartino says. “We have breweries, The Pasta Shop and a couple of diners. It’s cute. The famous Hunan Taste Chinese Restaurant is there. This past October, everything was closed off because they were filming the new Bruce Springsteen movie there.” Boutiques are also popular in Denville, like the Sweet Expressions By Geri candy shop on Broadway.
Residents can do their shopping at Acme in Denville.
Rainbow Lakes cultivates a vibrant tapestry of local flavors and unique shops, inviting residents to explore and savor the distinctive charm of its community businesses.
GreatSchools:
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
View GreatSchools Rating Methodology
Interested in learning more about homes in this area?
Reach out to
Keith Bochner,
an experienced agent in this neighborhood.
Parks in this Area
Jannarone Park
Baseball/Softball
Football
Parking Lot
Rainbow Lakes Park
Basketball
Playground
Erin Smith Park
Volleyball
Rainbow Lakes Tennis Court
Tennis
Transit
Airport
Newark Liberty International
37 min drive
Bus
Walsh Dr 528' N Of Interpace
Bus
Walsh Dr & Interpace Pkwy
Bus
Interpace Pkwy & Cherry Hill Rd
Bus
Interpace Pkwy & Upper Pond Rd
Bus
Interpace Pkwy 3168' W Of Cherry Hill Rd.
Bus
Walsh Dr & Lackawanna Ave
Bus
Us-46 & Cherry Hill Rd
Demographics and Home Trends
On average, homes in Rainbow Lakes, Parsippany-Troy Hills sell after 32 days on the market compared to the national average of 47 days. The average sale price for homes in Rainbow Lakes, Parsippany-Troy Hills over the last 12 months is $574,703, down 1% from the average home sale price over the previous 12 months.
Welcome to this cozy updated and well maintained 3 bed 1 bath Ranch in private Rainbow Lakes Community. This clean and well cared for home sits across the street from the Main Lake conveniently located near one of our many access points.Be on vacation everyday. This turnkey home offers SS appliances, spacious bedrooms w ceiling fans, marble counter tops, hardwood throughout.Washer & Dryer on main
Interested in learning more about homes in this area?
Reach out to
Keith Bochner,
an experienced agent in this neighborhood.
Average Home Value
Source: Public Records
Property Mix - Square Feet
This Neighborhood Has More Owners
Demographics
Total Population
1,219
Median Age
41
Population under 18
23.2%
On par with the national average
23.8%
Population over 65
18.4%
On par with the national average
19.1%
Finances
Median Household Income
$104,741
Significantly above the national average
$71,702
Average Household Income
$123,063
Education and Workforce
High School Graduates
95.7%
Above the national average
89.1%
College Graduates
57.3%
Above the national average
34.1%
Advanced Degrees
15.7%
% Population in Labor Force
70.2%
Weather
Annual Precipitation
50''
Average Winter Low Temperature
19°F
Average Summer High Temperature
85°F
Annual Snowfall
9''
Area Factors
Somewhat Bikeable
Bike Score®
34/ 100
Car-Dependent
Walk Score®
14/ 100
Source: Walk Score
Source: Walk Score
Sound Score® measures the noise level of any address. Transit Score® measures access to public transit. Bike Score® measures the bikeability of any address.
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
