Year Built
2024
Low-Rise Condo
Flats at Rainbow Lake
by HIP Developments
525 New Dundee Road, Kitchener, ON N2P 2L1
Total Units
184
Avg $/sqft
$560
Storeys
8
Available Units in Flats at Rainbow Lake
2
Units for sale
From $394,900
2
Units for rent
From $2,200/mo
Live MLS · Updated daily
Overview
Located at 525 New Dundee Road, Flats at Rainbow Lake is a 8-storey condo containing 184 units. These Kitchener condos for sale were completed in 2024 with units starting at 649 square feet, ranging up to 1148 square feet. What makes a Doon South condo for sale most appealing is all that the neighbourhood has to offer.
Maintenance fees at 525 New Dundee Road are only $0.38, significantly lower than the city average of about $0.67 per-square-foot.
Developer
HIP Developments
Year Built
2024
Property Type
Low-Rise Condo
Storeys
8
Total Units
184
Management
Weigel Property Management
Amenities
Fitness Centre
Sauna
Visitor Parking
Party Room
Price History
104 recordsLoading history…
Market Stats
$560
Avg $/sqft
Steady
YoY change
39
Avg days on market
Location & Walkability
Walk Score
—/100
Daily errands on foot
Transit Score
—/100
TTC, GO, subway access
Bike Score
—/100
Bike lanes & infrastructure
Neighbourhood in Kitchener
Doon South
family-friendly community-oriented suburban quiet
Doon South is a family-friendly neighbourhood in Kitchener. It features a mix of residential homes and some amenities for daily living.
Strong school ratings Many parks and playgrounds Low unemployment rate High home ownership Diverse community
Kitchener, Ontario
© Wikimedia Commons contributors (CC BY-SA)
At a glance
Day to dayLivability
7.1
Schools near listings
out of 10 · averaged over 405 past and present listings
Fraser Institute ratings within 2 km of each listing, closer schools weighted more
Each score is an average over this area's own listings and is shown only where at least 5 of them carry one. Scores are reported by listing agents, not measured by HOMEH.
What it costsAffordability
Median asking price
$899,950
43% above Kitchener 26% above Ontario
In Doon South
$899,950
In Kitchener
$629,900
In Ontario
$714,900
Median monthly rent
$2,750/mo
28% above Kitchener 10% above Ontario
In Doon South
$2,750
In Kitchener
$2,153
In Ontario
$2,500
$601
Per square foot
≈ 27.3 years
Of rent to match the purchase price
On the marketMarket snapshot
For sale
46
Median $899,950
Houses 35 · Condos 11
For rent
23
Median $2,750
Recently sold
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Recently leased
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Market data as of 2026-10-19. Sold and leased figures are neighbourhood medians over the last 12 months, published only where at least 5 homes closed — never a single sale.
The honest readPros & cons
What people love
- Good schools for children
- Family-oriented environment
- Affordable compared to city median
- Low low-income percentage
- Community parks for outdoor activities
Keep in mind
- Higher home prices than city average
- Limited transit options
- Fewer restaurants and cafes
The feel of the placeLifestyle
Daily life in Doon South is relaxed with access to parks and schools. Families enjoy a close-knit community atmosphere.
Great for families first-time buyers those seeking a quiet lifestyle
Within the boundaryWhat's nearby
The boundary
8.8 km²
Every count and every census figure on this page was measured inside this line — not within a circle drawn around a centre point.
29
Parks
19
Playgrounds
1
Grocery stores
1
Restaurants
1
Cafés
1
Gyms
1
Pharmacies
Counted across all 8.8 km² of Doon South. From OpenStreetMap, as of 2026-10-19.
The schoolsWhich schools, and how they rate
6.9/10
Average rating of the 4 rated schools in this area
8
Elementary
J W Gerth Public School
Public · Grades JK–6 · Waterloo Region DSB
7.5/10571st of 3,045 Ontario elementary schools
455 students · EQAO 2024-2025
Groh Public School
Public · Grades JK–8 · Waterloo Region DSB
7.2/10751st of 3,045 Ontario elementary schools
885 students · EQAO 2024-2025
Brigadoon Public School
Public · Grades JK–6 · Waterloo Region DSB
7.0/107.0 over 5 yrs888th of 3,045 Ontario elementary schools
545 students · EQAO 2024-2025
St Timothy Catholic Elementary School
Catholic · Grades JK–8 · Waterloo CDSB
5.9/106.5 over 5 yrs1,664th of 3,045 Ontario elementary schools
375 students · EQAO 2024-2025
Carmel New Church School
Independent
Not rated
Doon Public School
Public · Grades 6–8 · Waterloo Region DSB
Not rated
435 students
Ontario Ministry of Education school registry; ratings from the Fraser Institute report card. These are the schools that stand inside Doon South, not a catchment — most Ontario boards do not publish attendance boundaries, and we will not draw a line we cannot source. Confirm enrolment with the school board before you buy.
The peopleWho lives here
15,554
Population (2021)
9.6 km²
Area
1,626
People per km²
35.1
Median age
$134,972
Median income
87%
Own their home
3.4
People per household
4,535
Households
Every age
- Children (under 15)23.6%
- Working age (15–64)68.1%
- Seniors (65+)8.3%
What is built here
- Detached houses83.2%
- Semi-detached1.1%
- Townhouses10.1%
- Duplexes2.2%
- Low-rise apartments1.3%
- High-rise apartments1.9%
Own or rent
87%Owners
14%Renters
Across 4,535 households
When it was built
Mostly 2016–2021
- 1960 or earlier2%
- 1961–19804%
- 1981–19908%
- 1991–20008%
- 2001–200519%
- 2006–201013%
- 2011–201514%
- 2016–202133%
Share of occupied homes, by the era they were built in. Bars are drawn against the busiest era, not against each other, because the eras are not the same length. The eight shares are unlikely to total exactly 100: Statistics Canada rounds each era's count to the nearest 5 before publishing it, so we print what the census reports rather than adjusting a figure to make the column add up.
- 35.7%
- Born outside Canada
- 37.5%
- Hold a degree or higher
- 65.6%
- Employment rate
- 2%
- Commute by transit
- 93.5%
- Commute by car
- 2
- Children per family
- $114,702
- Median income after tax
- $153,927
- Average household income
- 5.2%
- Living on a low income
- $2,250/mo
- Renters pay, per month
- $2,175/mo
- Owners pay, per month
- $889,970
- Median home value at census
- 34.1%
- Renters spending 30%+ of income on housing
- 19.4%
- Owners spending 30%+ of income on housing
Statistics Canada, Census of Population 2021. Added up from 6 census areas inside the boundary. Medians and rates are a population-weighted average of dissemination-area figures.
Sources: HOMEH listings, Statistics Canada, Census of Population 2021, OpenStreetMap, Photo: © Wikimedia Commons contributors (CC BY-SA)
