Rainbow Lakes Estates is a huge sub division of approximately 13,000 acres that was first developed in 1961 by the American Realty and Petroleum Corp. At the time AMREP was one of the largest developers in the US mostly developing large tracts of land in southern states to be sold as vacant lots to northern snowbirds. Land was really cheap in Marion County in the 60′s and 70′s and several huge projects like Rainbow Lakes sprung up around the county at that time. Like several similar sub divisions many lots were never built on and even to this day there is a huge number of vacant lots.
Rainbow Lakes Estates has all paved roads. It also has 3 lakes, Tiger Lake, Lake Bonable and Little Lake Bonable. Lots are either 1/4 acre or 1 full acre. Homes range from smaller, under 1,000 sq ft of living area to quite large homes built in the last few years. Homes date from the 1960′s through the building boom of 2004-08 to the present. There are all methods of construction with the majority being concrete block. There are very reasonably priced homes here in Rainbow Lakes Estates including a number of foreclosures.
Although there is no HOA or HOA fees there is a community center in Rainbow Lakes Estates with various clubs and activities.
Rainbow Lakes is peaceful and quiet but only a few minutes from Dunnellon and around 40 minutes from Ocala.
If you would like to see listings from Rainbow Lakes Estates email me or use my Ocala Dream Home Finder . I can set you up a Listing Cart which is a custom MLS search for Rainbow Lakes or any surrounding community.
See images below