What is the Best Neighborhoods USA ranking for Rainbow Terrace?
Rainbow Terrace is ranked #365 of 442 eligible neighborhoods in Nashville; #453 of 571 eligible neighborhoods in TN; and #12,154 of 14,967 eligible neighborhoods in the United States.
Neighborhood Profile
Rainbow Terrace
Nashville, TN | Davidson County
Scored premium profile
Best Neighborhoods USA Index
35.9
Stability and Strength
36.6
Value Opportunity
51.6
Momentum
12.7
Score note: Rankings show denominators so users always see the size of the eligible cohort.
| Context | Value |
|---|---|
| Location | Nashville, TN |
| County | Davidson County |
| National rank | #12,154 of 14,967 |
| State rank | #453 of 571 |
| City rank | #365 of 442 |
| County rank | #365 of 442 |
| National percentile | 18.8 |
| National band | LOWER_25_PERCENT |
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Housing and local fundamentals
| Housing and market metrics | Value |
|---|---|
| Current Zillow home value | $288,292 |
| Year-over-year home value change | -4.9% |
| Month-over-month home value change | -0.20% |
| Home value to income ratio | 3.76 |
| Median household income | $76,752 |
| Bachelor's degree or higher | 18.7% |
| Civilian unemployment rate | 6.9% |
| Homeownership rate | 45.7% |
| Housing vacancy rate | 7.9% |
| Rent burden 30% or higher | 50.4% |
How to read this profile
- Ranks are always shown with denominators.
- Momentum reflects both year-over-year and month-over-month housing change.
- Stability and Strength and Value Opportunity are governed composite scores.
- Identity composition is descriptive intelligence and is not a scoring component.
Questions and Answers
Questions About Living in Rainbow Terrace
Is Rainbow Terrace one of the best neighborhoods in Nashville?
Rainbow Terrace has a Best Neighborhoods USA Index of 35.9 and a city ranking of #365 of 442 eligible neighborhoods in Nashville.
How much are homes worth in Rainbow Terrace?
The current Zillow Home Value Index for Rainbow Terrace is approximately $288,292.
Are home values rising or falling in Rainbow Terrace?
Zillow neighborhood values changed -4.9% year over year and -0.20% month over month.
What is the Neighborhood Momentum Score for Rainbow Terrace?
Rainbow Terrace has a Neighborhood Momentum Score of 12.7. Momentum is 70% year-over-year and 30% month-over-month Zillow housing change.
What is the median household income in Rainbow Terrace?
The NDS-derived neighborhood median household income is approximately $76,752.
How affordable is Rainbow Terrace relative to household income?
The current Zillow home-value-to-household-income ratio is 3.76. Price-to-income affordability is a major Value Opportunity input.
Is Rainbow Terrace primarily homeowners or renters?
The NDS-derived homeownership rate is approximately 45.7%.
What is the unemployment rate in Rainbow Terrace?
The NDS-derived civilian unemployment rate is approximately 6.9%.
How educated are residents of Rainbow Terrace?
Approximately 18.7% of residents age 25 and older are estimated to have a bachelor's degree or higher.
What share of renters in Rainbow Terrace face high rent burden?
Approximately 50.4% of the applicable renter-household universe is estimated to spend 30% or more of household income on gross rent.
How does Best Neighborhoods USA score Rainbow Terrace?
The overall index combines 40% Stability and Strength, 35% Value Opportunity, and 25% Momentum. Race, ethnicity, and identity composition are not scoring components.
Governed ranking context
How this neighborhood ranks
HMDA Mortgage Intelligence
Neighborhood Mortgage Market
Modeled neighborhood-level mortgage activity allocated from governed HMDA tract data using Zillow neighborhood geometry. These neighborhood values are nonadditive and do not enter the Best Neighborhoods USA Index.
Activity year2024
Estimated applications14
Estimated originations6
Home-purchase applications6
Origination rate44.2%
Home-purchase share42.3%
Average application loan$204,038
Total application loan amount$2,825,034
National application rank#11,718 of 14,874 rankable neighborhoods
Geometry coverage100.0%
Recent trend: Applications -11.9% YoY; originations -33.0% YoY
Mortgage methodology
HMDA is natively reported at tract and other lender-reporting geographies, not Zillow neighborhood or ZIP geography. This module uses the certified NDS HMDA-to-Zillow tract-vintage crosswalk and area-weighted allocation. Rankings require governed geometry coverage. Applicant demographics are excluded. Neighborhood values may overlap and must not be summed to reconstruct ZIP or national totals.