Rent to own Homes in Richmond West, FL
Richmond West is a census designated place located it the southernmost tip of Florida. Situated in Miami-Dade County, Richmond West shares a small border with Miami proper. The Miami zoo, aka Zoo Miami, is within walking distance (Richmond West is two miles wide) as well as the University of Miami's south campus. Richmond West, FL offers the weather and attractions of Miami, yet it's tucked away in its own seldom noticed section of the greater Miami area.
Richmond West, FL is a great place for affordable rent-to-own homes! With a median household income of over $76,358 and a median rent of $2,087, the Richmond West, FL rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Richmond West, FL. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
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Rent to own Homes in Cities Near Richmond West, FL
- Aventura
- Bal Harbour
- Bay Harbor Islands
- Doral
- El Portal
- Fisher Island
- Florida City
- Fountainebleau
- Gladeview
- Glenvar Heights
- Golden Beach
- Golden Glades
- Goulds
- Hallandale
- Hallandale Beach
- Hialeah
- Hialeah Gardens
- Hollywood
- Homestead
- Homestead Base
- Indian Creek
- Islandia
- Ives Estates
- Kendall
- Kendall West
- Key Biscayne
- Leisure City
- Medley
- Miami
- Miami Beach
- Miami Springs
- Miramar
- Naranja
- North Bay Village
- North Key Largo
- North Miami
- Olympia Heights
- Pinecrest
- Richmond Heights
- Richmond West
- South Miami
- South Miami Heights
- Sunny Isles Beach
- The Crossings
- University Park
- Westchester
- West Miami
- West Park
- Westview
- Westwood Lakes
Neighborhoods in Richmond West, FL
Richmond West rent to own homesPopular Zip Codes in Richmond West, FL
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Richmond West, FL is seeing rapid growth and Richmond West, FL's' housing market remains not optimal with an average home price that is 55% above the 2024 national average. Richmond West, FL is part of Miami-Dade county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Miami-Dade is 1.02% which is above the national average, which is 0.99%.
Median Home Price in Richmond West, FL
Median Rent in Richmond West, FL
Top 6 Reasons to Live in Richmond West, FL
Beaches and sunny skies! When you live around Miami, you get to enjoy the sunny skies and numerous beaches that are the defining feature of the region. Richmond West is located in a prime part of the Miami area, and residents of the town have easy access to the beaches of the area. The Black Creek Canal slices through the eastern edge of the town, and if you live in Serena Lakes Townhomes, you'll have access to its lake of the same name.
Home prices starting around $140,000! Richmond West homes start at $140,000 on up -- compared to $200,000 on up in Miami. However, rent to own homes are a step up from those in Miami, and consequently, the average rental price is $400 more expensive in Richmond West. Some of the more luxurious townhouses, such as those located in the Park at Kendall and Serena Lakes, start around $1,800 per month.
Parks and recreation! Being located in one of the best parts of Florida in terms of weather, Richmond West is home to numerous outdoor activities, parks being the most prominent. The King's Grant, Eureka Villas and Chuck Pezoldt parks all find themselves within the 4 square miles of Richmond West.
Downtown Miami is nearby! Downtown Miami is just about 40 minutes away and West Miami can be reached even faster than that. But this isn't to say that Richmond West doesn't have its own attractions. Scattered throughout the town, you'll find small restaurants and shopping centers such as Ferrari's New York Style Pizzeria and the Town and Country Plaza.
Over 16% home appreciation! After the downturn of the South Florida market in 2008, Richmond West has been one of the fastest areas to recover. It has an estimated 16% home appreciation rate in the past year, showing that its home values are on the rise as more people move to the town. Homes in the neighborhoods of the southeastern part of town are more expensive, as they offer easy access to Zoo Miami and the large Larry and Penny Thompson Park.
Several highly rated restaurants in the area! The Richmond West area is home to several of the region's most highly rated restaurants including Rock A Bangkok, La Perla Peruvian Restaurant, and Amici's Trattoria Italiana.