Rent to own Homes in Norristown, PA
With a population of 34,324 (based on the 2010 Census), Norristown is a bustling little village surrounded by suburbs on all sides. It's a mere six miles away from the big city of Philadelphia, and features a thriving downtown with numerous businesses, a wealth of recreational opportunities, and abundant shopping venues. Interestingly, it was a merchant named Issac Norris who owned the land that became Norristown back in the 1700s. He bought it from William Penn, Pennsylvania's founder.
Norristown, PA is a great place for affordable rent-to-own homes! With a median household income of over $54,409 and a median rent of $1,106, the Norristown, PA 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 Norristown, PA. 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.
More Norristown, PA Property Resources
Rent to own Homes in Cities Near Norristown, PA
- Abington
- Ambler
- Arcadia University
- Audubon
- Bala Cynwyd
- Bridgeport
- Brittany Farms-The Highlands
- Bryn Athyn
- Chalfont
- Cheltenham Village
- Conshohocken
- Dresher
- Eagleville
- Elkins Park
- Fort Washington
- Glenside
- Gwynedd
- Harleysville
- Hatboro
- Hatfield
- Haverford College
- Hilltown
- Horsham
- Huntingdon Valley
- Jenkintown
- Kimberton
- King of Prussia
- Kulpsville
- Mont Clare
- Narberth
- New Britain
- Norristown
- Oreland
- Pennsauken
- Penn Wynne
- Perkiomenville
- Plymouth Meeting
- Pughtown
- Rockledge
- Roslyn
- Skippack
- Spring House
- Swedeland
- Telford
- Trooper
- Trumbauersville
- Warminster
- Willow Grove
- Woxall
- Wyncote
Neighborhoods in Norristown, PA
Norristown rent to own homesBuying a Home in Norristown, PA
Norristown, PA is seeing rapid growth and Norristown, PA's' housing market remains optimal with an average home price that is -27% below the 2024 national average. Norristown, PA is part of Montgomery 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 Montgomery is 1.29% which is above the national average, which is 0.99%.
Median Home Price in Norristown, PA
Median Rent in Norristown, PA
Top 5 Reasons to Live in Norristown, PA
Fantastic neighborhood dining options! Norristown, Pennsylvania is something of a restaurant hub for the surrounding suburban areas, including Plymouth Meeting, Conshohocken, and East and West Norristown. Locals frequent such eateries as Rocco's Brick Oven Pizzeria, Capone's Restaurant, and Taqueria La Michoacana. There's also Just Jerk, which serves jerk chicken, curry and many other spicy dishes. For those interested in grabbing a Philly-style cheesesteak, there's Papa Guido's and Lou's Steak Shop.
Tons of entertainment! The Elmwood Zoo is a major draw not only for community residents, but also for people coming from the surrounding areas. The zoo has a range of animal exhibits, including certain mammals, birds, amphibians and reptiles. Residents visit not only for the permanent exhibits, but also for the educational programs, seasonal exhibits and special events. The community also has over 10 parks operated by Norristown Parks and Recreation. Guardino Park, with a picnic area and basketball courts; Riverfront Park, with fishing ramps, a boating club and boat ramps; and Scagg Cottman Park, with its baseball field and tot lot are among the most popular.
Arts and cultural attractions! Norristown is home to plenty in the way of arts and culture, starting with The Centre Theater at the Montgomery County Cultural Center. It offers plays year-round, seats 75 people and has regularly scheduled educational programs. Norristown Arts Hill hosts a movie series, a chef series and a ton of special events, including art festivals. Iron Age Theatre is yet another entertainment choice, offering an off-broadway theater experience with many award-winning performances.
Affordable housing options! Norristown presents a mixed bag when it comes to housing prices. Its median sale price of $109,700 (as of November 2014) makes it less expensive than many of the surrounding suburban areas; however, some of its neighborhoods are pricier than others. The Fairview Village neighborhood has a median sale price of about $299,000, and the Dekalb Pike/Germantown Pike area has median sales prices about $60,000 cheaper.
Many rental choices! Norristown has many apartment buildings of various sizes, homes, townhomes and condominiums. Average rents hover around the $960 mark. Those looking for rent to own houses will appreciate that nearly 60 percent of the area's real estate is rental property. The Dekalb Pike/Main Street and Markley Street/W. Freedley Street areas offer some of the lowest rates.