Rainbow Parke was built between 2005 and 2010 by Gehan Homes and is off Highway 79 in eastern Round Rock. Homes range in size from roughly 1,450 to 3,075 square feet with mostly brick and stone exteriors. Most lots are around a sixth of an acre, a few are closer to a quarter acre and one approaches a half acre. The trees have matured.
Rainbow Parke is an established Round Rock neighborhood off Red Bud Lane and Highway 79 in eastern Round Rock, with homes built between 2005 and 2010 by Gehan Homes. The neighborhood has no community amenities such as a pool or clubhouse. It is zoned to Round Rock ISD. Round Rock Premium Outlets, Round Rock parks and recreation centers, and the dining and shopping along Highway 79 and IH-35 are a short drive away, and the Dell Diamond and Old Settlers Park are close by. This Rainbow Parke neighborhood guide covers the homes, schools, HOA dues, property tax rate, deed restrictions, commute and sold data. Scroll Down to Read Our Rainbow Parke Neighborhood Guide.
Rainbow Parke Homes for Sale
SEARCH ALL RAINBOW PARKE HOMES FOR SALENo Email Required! Rainbow Parke Neighborhood Map
Rainbow Parke is located off Red Bud Lane. To get to Rainbow Parke, take 35 to 79 and head east. Make a left on Red Bud Lane. Make a left on Mickey Mantle Place. Make a right on Rainbow Parke Drive. Rainbow Parke is shaded in blue on the interactive map below. To explore other Round Rock neighborhoods, visit our Round Rock neighborhood guide. Scroll down to continue reading our Rainbow Parke neighborhood guide.
What It's Like to Live in Rainbow Parke
Day-to-day life in Rainbow Parke has a quiet, settled feel. The streets are tree-lined and residential — you'll see more dog-walkers and cyclists than through traffic, since the neighborhood isn't a cut-through to anywhere. Most homes have 3- and 4-bedroom floor plans, with Round Rock ISD schools nearby.
Errands are close by. There's a Walmart near the entrance to the neighborhood on 79, and HEB on Palm Valley Boulevard is just a few minutes away. The stretch of 79 between Red Bud Lane and IH-35 has chain restaurants, coffee, Home Depot and more. Round Rock Premium Outlets are a short drive west. Old Settlers Park is 645 acres with sports fields, playgrounds and trails, with the Dell Diamond right next door.
For commuters, the drive to the Domain or the Apple campus in North Austin typically runs 20 to 25 minutes outside of rush hour. Downtown Austin is roughly 30 to 35 minutes depending on traffic on IH-35.
Rainbow Parke Home Prices
Rainbow Parke is a small neighborhood. Over the last two years, only a handful of homes have changed hands.
Of the homes that did sell between June 2024 and June 2026, closed prices ranged from $350,000 to $380,000, with a median sold price of $360,000 and an average of $361,400. Homes sold for an average of 97.2% of list price. Price per square foot averaged around $185.
The homes that sold ranged from 1,847 to 2,145 square feet on lots between 6,290 and 9,039 square feet, within the neighborhood's overall size range. Median days on market was 11 days, and the average was 37 days because a few listings sat longer.
Data reflects MLS activity June 2024–June 2026. Statistics are for informational purposes only and are not a guarantee of value. Contact us for a current market analysis specific to your home.
Rainbow Parke Schools
Homes in Round Rock's Rainbow Parke neighborhood are zoned to the Round Rock ISD, and students will likely attend the following schools:
- Redbud Elementary - 8/10
- Hernandez Middle - 5/10
- Stony Point High - 5/10
School ratings reflect Great Schools ratings as of November 2026. Ratings are subject to change at any time. Please verify ratings and boundaries with the school district.
School ratings are updated annually. Verify current ratings and attendance boundaries directly with Round Rock ISD before making decisions based on school assignment.
Rainbow Parke Property Tax Rate
The property tax rate in Round Rock's Rainbow Parke neighborhood is 1.7993% as of the 2025 tax year, up from 1.7714% as of the 2024 year. It was 1.7541% as of the 2023 tax year, down from 1.8964% as of the 2022 tax year. The property tax rate was 2.0938% as of the 2021 tax year.
Rainbow Parke is in the Upper Brushy Creek Water Control and Improvement District. Confirm the current amount for any home you are considering.
Rainbow Parke HOA Dues
| Brookchase HOA | $242 / annually |
Dues shown as reported and deemed reliable but not guaranteed. HOA fees, special assessments, and terms can change at any time. Buyers should confirm current dues directly with the HOA or management company before making an offer.
Rainbow Parke Deed Restrictions
Rainbow Parke is governed by a recorded Declaration of Covenants, Conditions and Restrictions (2004), one amendment, association rules adopted in 2021, and design review by the Architectural Design Review Committee. The summary below covers the rules that most often come up for buyers.
Rules at a glance
- Design review: Exterior improvements need written approval from the Architectural Design Review Committee before work starts. The committee can grant variances in unusual cases.
- Rentals: Allowed, with a lease term of at least 6 months. The owner gives the association the tenants' contact information and the lease start date and term within 7 days of signing the lease.
- Pets: Domestic household pets only. The committee can limit the number of pets per lot. Pets are leashed off the owner's lot, and kennels, breeding and boarding for hire are not allowed. Animals are kept in an enclosed, screened area.
- Garages: Garages hold at least two cars, and each home needs enough garage space for all vehicles kept on the lot. The garage cannot be used or enclosed for living space, and garage doors are wood or painted metal that matches the home.
- Vehicles: Boats, trailers, non-pickup trucks, tractors, campers, buses, motorcycles and similar vehicles are kept in an enclosed structure or screened from view. No more than two cars can be visible from other property for more than 72 hours. Mobile homes are not allowed, and RVs and travel trailers cannot be visible for more than 48 hours.
- Street parking: Inoperable vehicles cannot be parked overnight on the street, and no vehicle can be parked on the street overnight for more than two consecutive nights.
- Home exteriors: Single-story homes are at least 75% masonry and two-story homes at least 50%, with brick, natural stone and stucco counting as masonry. Homes are limited to two stories. Exterior walls continue down to within 24 inches of the ground on the front. Shingle roofs have a minimum 6/12 pitch, and roof types other than composition or fiberglass shingles need approval. Homes are built in place on the lot with new materials.
- Setbacks: Homes sit at least 20 feet from the front lot line, garages at least 25 feet, and the setbacks shown on the recorded plat also apply. No pool can sit between the front lot line and the fence.
- Fences: Fences are wood, masonry, wrought iron or decorative metal, up to 6 feet tall, and stay behind the front wall line of the home. Chain-link is not allowed where it can be seen from a street, another lot or public property, and is limited to 4 feet. Fencing in the front yard for security purposes must be black ornamental iron or metal and needs approval.
- Air conditioning: No window or wall-type air conditioners visible from a street.
- Pools: Above-ground pools are not allowed, except movable children's wading pools no more than 18 inches deep. Pools are fenced and screened from the street.
- Storage buildings: Outbuildings and storage sheds need approval. Temporary structures cannot be used as a residence.
- Basketball goals: Permanent goals need approval, with the pole at least 25 feet back from the curb. Portable goals are stored out of view when not in use.
- Landscaping: The front yard is fully sodded from the property line to the front wall of the home, and at least one 3-inch caliper tree is planted in the front yard before move-in. Owners keep landscaping trimmed and free of trash.
- Utilities: Utility lines run underground. Every lot has natural gas lines, and each home must have at least two natural gas appliances.
- Antennas and cameras: Satellite dishes need approval and are placed to the rear of the roof ridge, out of view from the street. Security cameras go only on your own lot, mounted on the home no higher than the lowest part of the roof line, and aimed to capture as little of a neighbor's property as possible. Cameras cannot be mounted on a pole in the yard.
- Signs: One sign advertising the home for sale or rent is allowed. Other signs need approval.
- Trash containers: Covered containers, kept in an enclosed structure or screened from view, and out only for collection.
- Home businesses: Allowed if the business cannot be seen, heard or smelled from outside, does not involve regular visits or door-to-door solicitation, and fits the residential character of the neighborhood.
- Lot divisions: Lots cannot be divided without approval.
- Term: The declaration runs through January 1, 2035, then renews automatically in 10-year periods unless 75% of the owners vote to amend or end it.
Summary only, not legal advice. Restrictions can be amended, and some lots have their own recorded restrictions. Confirm the rules for your specific lot with the title company or the association before you make an offer.
Rainbow Parke Photos
Rainbow Parke Sold Data - What Rainbow Parke Homes Actually Sold For
What sold recently in Rainbow Parke and for how much? Where can I find pictures of homes that actually sold? How many days does it take to sell a home in Rainbow Parke? How many homes are currently for sale in Rainbow Parke? What’s the median sold price in Rainbow Parke? What does the 90 day historic market trend look like in Rainbow Parke? How’s the Rainbow Parke market trending?
All of these questions (and more!) can be answered on our Rainbow Parke Sold Data Report.
Rainbow Parke Market Stats — 12 Months (10/1/2025 – 9/30/2026)
Based on a limited number of sales — figures may not reflect the full range of homes in the neighborhood.
| Homes Sold | 1 |
| Bed / Bath Range | 3 beds, 2 baths |
| Median Sale Price | $318,000 |
| Price Range | $318,000 – $318,000 |
| Median Price Per Sq Ft | $182 |
| Median Home Size | 1,751 sq ft |
| Median Days on Market | 14 days |
| Sale-to-List Ratio | 100% |
Data sourced from Unlock MLS. 12 months ending September 2026. Statistics deemed reliable but not guaranteed.
Rainbow Parke Home Price History
Curious how home prices in Rainbow Parke have trended? Here’s a five-year look at closed sales from 2022 through 2026 YTD.
Curious how home prices in Rainbow Parke have trended? Here’s a five-year look at closed sales from 2022 through 2026 YTD.
Years with 5 or fewer sales may not reflect the full range of homes in the neighborhood.
| Year | Homes Sold | Median Sale Price | YoY | Price Range | Median $/SqFt | Median Home Size | Median Beds/Baths | Median DOM | Sale-to-List |
|---|---|---|---|---|---|---|---|---|---|
| 2022 | 6 | $450,000 | — | $327,500–$470,000 | $206 | 1,954 sq ft | — | 7 days | 100% |
| 2023 | 6 | $384,500 | ▼ 14.6% | $350,000–$419,000 | $199 | 1,933 sq ft | — | 36 days | 98% |
| 2024 | 3 | $380,000 | ▼ 1.2% | $360,000–$392,000 | $191 | 1,889 sq ft | — | 11 days | 99% |
| 2025 | 3 | $350,000 | ▼ 7.9% | $350,000–$367,000 | $180 | 1,942 sq ft | — | 46 days | 98% |
| 2026 YTD | 1 | $318,000 | ▼ 9.1% | $318,000–$318,000 | $182 | 1,751 sq ft | 3bd/2ba | 14 days | 100% |
Data sourced from Unlock MLS (ACTRIS). 2026 figures reflect year-to-date sales through 10/13/2026. Year-over-year change is calculated against the most recent prior year with recorded sales. Statistics deemed reliable but not guaranteed.
Rainbow Parke Days on Market Trend
How fast are Rainbow Parke homes selling? Here's a five-year look at how long homes sat on the market before going under contract, from 2022 through 2026 YTD.
| Year | Homes Sold | Median Days on Market | Avg Days on Market |
|---|---|---|---|
| 2022 | 6 | 7 days | 11 days |
| 2023 | 6 | 36 days | 46 days |
| 2024 | 3 | 11 days | 30 days |
| 2025 | 3 | 46 days | 56 days |
| 2026 YTD | 1 | 14 days | 14 days |
Data sourced from Unlock MLS. 2026 figures reflect year-to-date sales through October 2026. Statistics deemed reliable but not guaranteed.
Rainbow Parke Deed Restriction Pros and Cons
Pros
- Written design standards with masonry minimums keep the streets consistent.
- Rentals are allowed, with a 6-month minimum lease.
- Every lot has natural gas lines, and utility lines are underground.
- Basketball goals are allowed with approval.
- Clear fence rules with several material choices.
Cons and trade-offs
- Exterior projects, including fences and sheds, need committee approval.
- Boats, trailers and RVs must be kept out of view, and street parking has limits.
- Above-ground pools are not allowed.
- Single-story homes need 75% masonry and homes are capped at two stories.
- Security cameras and front-yard security fencing have placement rules.
Who it fits
Buyers who want clear design standards, natural gas and the flexibility to rent long term. Less of a fit for buyers who want to park an RV or boat on site, install an above-ground pool, or rent short term.
Pros and Cons of Living in Rainbow Parke
Pros
- HOA dues: Dues are $242 per year for the Brookchase HOA, and the neighborhood has no community pool or clubhouse.
- Homes and lots: Gehan Homes built the neighborhood between 2005 and 2010, with floor plans from roughly 1,450 to 3,075 square feet, mostly brick and stone exteriors, and lots that mostly sit around a sixth of an acre.
- Median price: The one sale in the past 12 months closed at $318,000, or $182 per square foot, and the median sale price was $350,000 in 2025 across 3 sales.
- Schools: The neighborhood is zoned to Round Rock ISD: Redbud Elementary (8/10), Hernandez Middle (5/10) and Stony Point High (5/10).
- Errands: A Walmart is near the entrance on Highway 79, HEB on Palm Valley Boulevard is a few minutes away, and the stretch of 79 between Red Bud Lane and IH-35 has chain restaurants, coffee shops and Home Depot.
- Parks and commute: Old Settlers Park (645 acres) and the Dell Diamond are close by, the drive to the Domain or the Apple campus runs 20 to 25 minutes outside of rush hour, and downtown Austin is roughly 30 to 35 minutes away.
Cons
- The 2025 property tax rate was 1.7993%, up from 1.7714% in 2024, and Rainbow Parke is in the Upper Brushy Creek Water Control and Improvement District.
- Rainbow Parke has no community pool or clubhouse.
- Deed restrictions require committee approval for exterior projects such as fences and sheds, and boats, trailers and RVs must be kept out of view.
- Sales are limited, with 3 sales in 2024, 3 in 2025 and 1 in the past 12 months, so recent sold data covers few homes.
- The median sale price fell from $450,000 in 2022 to $318,000 in 2026 YTD, and the median days on market was 46 days in 2025.
Who it fits: Rainbow Parke fits buyers who want a Round Rock neighborhood off Highway 79 with Gehan-built homes from roughly 1,450 to 3,075 square feet, HOA dues of $242 per year and no pool or clubhouse. Who should look elsewhere: Buyers who want a community pool or clubhouse, newer construction, or the option to park an RV or boat on site may want to look elsewhere.
Frequently Asked Questions About Rainbow Parke
No. Rainbow Parke does not have a community pool.
HOA dues in Rainbow Parke are $242 per year for the Brookchase HOA. Rainbow Parke has no community pool or clubhouse.
Rainbow Parke is zoned to Round Rock ISD. Students will likely attend Redbud Elementary (8/10), Hernandez Middle (5/10) and Stony Point High (5/10).
The property tax rate in Rainbow Parke was 1.7993% as of the 2025 tax year, up from 1.7714% in 2024. It was 1.7541% in 2023 and 1.8964% in 2022. Rainbow Parke is in the Upper Brushy Creek Water Control and Improvement District. Confirm the current rate with the Williamson County tax office before making an offer.
There was one sale in Rainbow Parke over the past 12 months, a 3 bedroom, 2 bath home of 1,751 square feet that closed at $318,000, or $182 per square foot. The five-year Price History shows a median sale price of $450,000 in 2022 (6 sales), $384,500 in 2023 (6 sales), $380,000 in 2024 (3 sales), $350,000 in 2025 (3 sales) and $318,000 in 2026 YTD (1 sale).
The one sale in the past 12 months had 14 days on market and a sale-to-list ratio of 100%. The yearly median days on market was 7 days in 2022, 36 days in 2023, 11 days in 2024, 46 days in 2025 and 14 days in 2026 YTD.
Rainbow Parke is in eastern Round Rock, off Highway 79 and Red Bud Lane. From I-35, take 79 east, turn left on Red Bud Lane, turn left on Mickey Mantle Place and turn right on Rainbow Parke Drive.
A recorded declaration from 2004, one amendment, association rules from 2021, and design review by the Architectural Design Review Committee. They require approval for exterior projects and cover rentals, pets, vehicles, fences and home exteriors. See the Deed Restrictions section above.
Yes, with a lease term of at least 6 months. The association must receive the tenants' contact information and the lease dates within 7 days of the lease.
Boats and trailers must be kept in an enclosed structure or screened from view. RVs and travel trailers cannot be visible for more than 48 hours, and mobile homes are not allowed. Vehicles also cannot sit on the street overnight for more than two consecutive nights.
Wood, masonry, wrought iron or decorative metal, up to 6 feet tall, and behind the front wall of the home. Chain-link is not allowed where it can be seen from a street or neighboring lot.
Yes, but above-ground pools are not allowed, except movable children's wading pools up to 18 inches deep. Pools must be fenced and screened from the street, and cannot sit between the front lot line and the fence.
Round Rock Realtor Specializing in Rainbow Parke Homes
Rebecca Jacks and Raymond Stoklosa are Round Rock Realtors specializing in Rainbow Parke homes. Whether you're looking to buy or sell a home in Rainbow Parke, Rebecca and Raymond know the area well and have the experience and tools necessary to make your next real estate transaction stress free. For more info about who we are and how we work, check out Buying a Home in Rainbow Parke and Selling a Home in Round Rock.
