Rainbow Lakes Estates is an unincorporated community in Marion County, Florida, United States established as a Municipal Services District. The community is part of the Ocala Metropolitan Statistical Area. This community is northwest of Rainbow Springs a natural spring located in Rainbow Springs State Park which is nearby. There are various community owned and maintained facilities as well as paved roads. A large percentage of the platted building lots are unimproved. It is located in the western part of the county, off US 41, several miles north of Dunnellon. Although the community is predominantly in Marion County, a small part of the western section falls into Levy County.