Initially developed to ease population overspill from the city of Limerick, Raheen is socioeconomically diverse, ranging from older, poor-class housing estates to relatively affluent areas.

It has for a long time contained notable populations of Jewish, South Asian and Chinese descent, with a large influx of immigrants from Eastern Europe arriving during Ireland's economic boom.

It is the home of many international companies, and multi-national concerns with premises there including Regeneron Pharmaceuticals, Analog Devices, Dell, Banta, ON Semiconductor, Stryker Corp. (formerly Howmedica), RRD GTS, and Emutex.

The radio station Spin South West and a Limerick and Clare Education and Training Board (LCETB) campus (formerly FÁS) operate from the Raheen Industrial Estate.

Raheen shares many amenities with neighbouring Dooradoyle, including the Crescent Shopping Centre and the main campus of University Hospital Limerick.