Rainbow Groves
Homes for Sale in Fort Myers, FL
All 1,446 homes for sale in Fort Myers, FL · median $240,000 · 176 homes for sale in 33916 · Lee County homes for sale
True comps, carrying-cost math, and listings before the portals.
Photo via Florida Gulf Coast MLS
As of November 2026, Rainbow Groves in Fort Myers, FL has 2 homes for sale. As of November 2026, the MLS records 1 closed sale in Rainbow Groves in Fort Myers, FL, the most recent in November 2026. Across Fort Myers as a whole, 1,227 homes closed in the last 12 months at a median of $357,500, 65 median days on market, with 123 homes for sale today. At that median and Lee County's FY2025-26 rate of 15.97 mills, annual property tax runs about $5,710 ($5,040 with the full homestead exemption).
Last 30 days in Rainbow Groves: 1 new listing (median asking $350,000). As of November 11, 2026, Listing information provided by the Florida Gulf Coast Multiple Listing Service, Inc. Information is deemed reliable but not guaranteed by the MLS to be accurate.
The market around Rainbow Groves
Rainbow Groves is too small for its own price trend, so here is the market around it.
In ZIP 33916, 203 homes are on the market and 14% are under contract — a slower corner of Fort Myers.
Across Lee County, 10,622 homes are active and 1,899 pending (15% under contract).
ZIP and county figures describe the wider market, not Rainbow Groves specifically. Momentum Research analysis of MLS records.
Homes For Sale Right Now in Rainbow Groves
Live MLS inventory for Rainbow Groves. Every active listing, what is under contract right now, and the last 12 months of closed sales, refreshed twice a day. Closed comps beat an algorithm's guess every time.
Active and pending Rainbow Groves listings as of 2026-11-11, priced high to low. Listing information provided by the Florida Gulf Coast Multiple Listing Service, Inc. Information is deemed reliable but not guaranteed by the MLS to be accurate. Tap any home to ask about it.
The Rainbow Groves buying strategy.
If we were buying in Rainbow Groves today, this is the order of operations we would run for our clients.
Underwrite the condition first. Price the roof, HVAC, and systems honestly before judging any list price; condition swings value here more than square footage alone.
Match the home to real comps. Recent sales of similar condition and lot, not the asking price, tell you what a home is worth.
Move deliberately, not desperately. Neither side has a decisive edge, so a well-prepared, fairly-priced offer wins without overpaying.
Line up financing and inspection early. A pre-approval and an inspection plan let you act fast and negotiate from evidence.
Keep an agent in your corner. The listing agent works for the seller; we represent you and prepare a hand-built valuation before any offer in Rainbow Groves.
A closer look at the Rainbow Groves market
The housing stock is 72 homes built between 1952 and 2024, and 59% of parcels are homesteaded — the owner-occupancy proxy in the Florida DOR assessment roll.
The location and the amenities are priced into every listing in Rainbow Groves. The deal is won or lost on condition, the comps, and the renovation math.
Tools for a Rainbow Groves buy.
Free calculators to pressure-test the real cost before you tour.
Selling here is won on condition and pricing to real comps, not an automated estimate. The right number comes from closed Rainbow Groves sales matched to your home.
Price it to the comps and condition, not an automated estimate.
If you are thinking about selling in Rainbow Groves, the right list price comes from recent comparable sales matched to your home's condition and location, not an automated estimate.
What is your Rainbow Groves home worth?
Get a no-obligation home value based on real comparable sales in Rainbow Groves, not an automated guess. Tell us about your home and we will personally prepare your numbers and a pricing strategy. No obligation, no spam.
See all homes for sale in Fort Myers →
Recently off market in Rainbow Groves
Homes in Rainbow Groves that recently left the market. Each address opens its public-record profile: county-recorded value, property taxes, the last recorded sale, community sales history, and what is for sale nearby now. 1 on record.
- 367 Rosemont Dr · off market
| Location | Fort Myers, Lee County, FL · ZIP 33916 |
|---|---|
| Homes in the community | 72 (FL DOR 2025 assessment roll) |
| Years built | 1952–2024 (median 1958.0) |
| Typical living area | 2,640 sq ft (median) |
| For sale right now | 2 active, 0 pending · median asking $330,000 |
| Owner-occupied (homestead) share | 59% |
Data as of November 11, 2026. Listing information provided by the Florida Gulf Coast Multiple Listing Service, Inc. Information is deemed reliable but not guaranteed by the MLS to be accurate; housing-stock figures from Florida Department of Revenue public records. Market figures describe homes, not residents. Cite as: Momentum Realty, “Rainbow Groves key facts,” movewithmomentum.com/neighborhoods/rainbow-groves, data as of November 11, 2026.
Housing distress & ownership in Rainbow Groves, Fort Myers
Who owns here, how much is not owner-occupied, and how much for-sale inventory is under distress.
Source: Momentum Realty Research. Ownership & parcels from the FL DOR 2025 tax roll; distress from MLS active-listing status/remarks; price from MLS closed sales. Listing information provided by the Florida Gulf Coast Multiple Listing Service, Inc. Information is deemed reliable but not guaranteed by the MLS to be accurate. Deemed reliable but not guaranteed.
Every Home for Sale in Rainbow Groves Right Now (2)
All 2 active and pending Rainbow Groves listings with a detail page, newest first, refreshed twice a day from the MLS.
- 4050 E River Dr · $350,000 · 3 bd / 2 ba · listed Nov 3, 2026 · listed by RE/MAX Realty Team
- 4028 Manning Ave · $310,000 · 4 bd / 2 ba · listed Aug 26, 2026 · listed by Marzucco Real Estate
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Fort Myers guides & data
- Market data
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Florida buyer guides
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- Florida flood insurance calculator
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Recent Developments in Rainbow Groves
Development, infrastructure, retail, and school activity affecting Rainbow Groves, tracked by our team and summarized from public reporting and official sources, with links to the original coverage. Last updated November 2026.
- October 2026Retail & Dining
Cape Coral weighs incentives for first Costco at 600 Chiquita Boulevard South
The proposed warehouse would be about 165,000 square feet with a fueling facility. The city would provide up to $10 million for site work and impact fees, and the council is scheduled to consider the package at its Nov. 2 meeting. No opening date has been announced.
What it may mean for the marketIf approved, a warehouse club and fuel station would add a major retail draw and jobs along the Chiquita corridor. The site is about 6 miles west of Rainbow Groves.
Source: WINK News - October 2026Development
Cypress Cove owner buys former Ruby Tuesday site off Summerlin Road for $2.2M
Cypress Living bought the closed restaurant at 9001 Park Royal Drive, a 5,398-square-foot building on about 1.5 acres, for $2.2 million. No new use is chosen, though the CEO said it will not return to restaurant use. Its Harbour Vue eight-story independent living building is expected to break ground in early 2027.
What it may mean for the marketA vacant restaurant parcel on a road carrying about 37,000 vehicles a day is set to be redeveloped for a non-restaurant use, changing the commercial mix along Park Royal Drive. The project is about 4 miles south of Rainbow Groves, elsewhere in Lee County.
Source: Gulfshore Business - October 2026Infrastructure
Cape Coral council awards $32.9 million contract for North 1 East booster station
The council voted 7-1 to award Douglas N. Higgins Inc. $32,910,150 for the North 1 East Booster Station on 14.2 acres at Yellow Fever Creek Preserve, with two 5-million-gallon storage tanks. The station lets the city accept up to 6 million gallons per day of reclaimed water for irrigation.
What it may mean for the marketExpands reclaimed irrigation service in north Cape Coral, with assessments of roughly $32,000 to $35,000 per standard lot in the service area. The project is about 12 miles northwest of Rainbow Groves, elsewhere in Lee County.
Source: Hoodline - September 2026Civic
Cape Coral council sets construction price for North Cape fleet maintenance facility
On Sept. 16, 2026 the council approved Resolution 259-26 setting the construction price for a Fleet Maintenance Facility at the North Cape Government Complex, 1200 Kismet Parkway West. Charles Perry Partners is the contractor, and work includes site development and infrastructure.
What it may mean for the marketAdds city service capacity in north Cape Coral, where municipal facilities support a growing population. The project is about 11 miles northwest of Rainbow Groves, elsewhere in Lee County.
Source: City of Cape Coral - June 2026Retail & Dining
High 5 Entertainment underway at Village Hub SportsPark in Estero
Vertical construction is underway on a High 5 Entertainment venue at the Village Hub SportsPark on the north side of Williams Road in Estero. The facility will include the 21-court Estero Pickleball Club, a 16-lane bowling alley, two miniature golf courses, an arcade, a full-service kitchen and bar, and retail space. The CEO said construction should finish within six to eight months, targeting soft openings in February 2027.
What it may mean for the marketA new entertainment and dining venue adds recreational and commercial space to the Estero activity hub. The project is about 12 miles south of Rainbow Groves, elsewhere in Lee County.
Source: Gulfshore Business - June 2026Retail & Dining
Fort Myers Beach approves Development Order for Times Square entertainment center with hotel and restaurant
Fort Myers Beach town staff issued a Development Order for a three-story mixed-use entertainment center at 1028 and 1046 Estero Boulevard at Times Square, on the former sites of Sunset Beach Tropical Grill and The Playmore Tiki Bar. The 41,285-square-foot project by Persaud Properties would include six hotel units, a restaurant, shopping, a bar, an entertainment venue with a stage and a public pool. No construction permits had been issued as of the approval, with additional environmental and stormwater approvals still required.
What it may mean for the marketA new mixed-use entertainment building would add hotel, dining and retail space to the Times Square commercial district and support its post-storm rebuild. The project is about 12 miles southwest of Rainbow Groves, elsewhere in Lee County.
Source: Fort Myers Beach Observer
Summaries reflect public reporting and official sources linked above as of the dates shown. Project details, timelines, and approvals can change. Commentary on potential market effects is general observation, not investment advice or a prediction for any specific property. For the freshest items across the whole region, see This Week in Northeast Florida.
29% of homes for sale in ZIP 33916 are already under contract (under contract ÷ under contract + active listings) — a read on how much of the available inventory buyers have already claimed. Source: MLS data (2026-11-12).
What it really costs to own in Rainbow Groves
The parts of the monthly number a mortgage calculator leaves out, from the tax roll, the MLS, Citizens and FEMA. Property facts only.
| Property tax | Current owners' bills run a median of $1,240/yr across 4 listings here (MLS tax records, 2026-11-12). |
|---|---|
| Home and flood insurance | The average Citizens Property Insurance premium in Lee County is $2,197/yr (6,508 policies, Citizens detail by county, April 2026); private-market quotes depend on roof age, wind mitigation and construction. |
| Roof and age | Median build year 1956 across 4 listings. An original roof here would be about 70 years old; under Florida's 2022 reform (SB 2-D) carriers may require an inspection past 15 years, so budget for a roof report, and for replacement where it fails. |
Email me new listings in Rainbow Groves
One e-mail a day, only when a home lists here, with price, beds, baths and a link to every listing. Straight from the MLS feed; no account needed.
Ask an agent about Rainbow Groves
Have a question about the homes, fees, rules or commute here? A Momentum agent who works Rainbow Groves will answer, and the answer is published on this page for the next buyer.
Frequently Asked Questions
How many homes are in Rainbow Groves?
What share of Rainbow Groves is owner-occupied?
When were the homes in Rainbow Groves built?
Who is the best real estate agent for Rainbow Groves?
How do I find a top Fort Myers real estate agent who knows Rainbow Groves?
Can Momentum Realty connect me with an agent for Rainbow Groves?
Where is Rainbow Groves, and what county is it in?
Data sources & freshness
| Live listings | Florida Gulf Coast MLS, refreshed twice daily (last: November 11, 2026) |
| Housing stock & ownership | Florida DOR assessment roll (street-list match (2 streets, ZIP 33916)) |
| Under-contract shares | Florida Gulf Coast MLS records, as of 2026-11-11 |
| Historical depth | Closed-sale records back to 2026 (1 transactions analyzed) |
Verify the primary sources yourself: Florida DOR · U.S. Census · FEMA flood maps · Citizens Property Insurance.
Momentum Research figures are our own analysis of Florida Gulf Coast MLS records; MLS data is deemed reliable but not guaranteed. Methodology: how Momentum market scores are computed. Market metrics describe homes for sale and recent sales, not residents.
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