Rent to own Homes in Montgomery, AL
Located south of the Alabama River, Montgomery is the capital city of Alabama with a population of 205,700, occupying a total land area of 155.4 square miles. The city is the first capital of the Confederacy -- in fact, it was on the steps of the State Capitol that US President Jefferson Davis was inaugurated. These days, Montgomery is home of the Maxwell Air Force Base, universities and colleges, sports complexes, manufacturing companies, and cultural attractions.
Montgomery, AL is a great place for affordable rent-to-own homes! With a median household income of over $49,608 and a median rent of $905, the Montgomery, AL 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 Montgomery, AL. 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 Montgomery, AL
Neighborhoods in Montgomery, AL
Brentwood rent to own homes Capitol Heights rent to own homes Centennial Hill rent to own homes Cloverdale/Idlewild rent to own homes Cottage Hill rent to own homes Edgewood rent to own homes Forest Park rent to own homes South Hull rent to own homes Garden District rent to own homes Highland Park rent to own homesBuying a Home in Montgomery, AL
Montgomery, AL is seeing rapid growth and Montgomery, AL's' housing market remains optimal with an average home price that is -44% below the 2024 national average. Montgomery, AL 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 0.36% which is below the national average, which is 0.99%.
Median Home Price in Montgomery, AL
Median Rent in Montgomery, AL
Top Reasons to Live in Montgomery AL
Housing Statistics It is interesting to know that the percentage of owner-occupied houses in Montgomery is 52.09%, which is slightly lower than the state average and national average of 60.4% and 57.69%, respectively. Percentage of homes that are rented is at 36.37%, which is higher than the state average of 26.30% and national average of 30.93%. People looking for home rentals or rent to own housing schemes need not fret. With the city's 11.54% vacancy rate, there's ample space for everyone. Real estates in Montgomery are of single-family homes type with a median sale price of $122,600. Recently, there have been 2,236 homes sold in this city and an average quarterly home sales transaction of 990 in 2012.
Local Sports Montgomery hosts many local sporting events; no wonder, it has produced champion athletes like track and field 2-time Olympic gold medalist, Alonzo Babers; current Alabama State University coach, Reggie Barlow; and football Hall of Famer, Bart Starr; to name a few. Moreover, the city has its own baseball team, the Montgomery Biscuits. Colleges and universities' sporting events are some of the highlights of local sports in Montgomery. College football, baseball, and basketball teams can get locals in a frenzy like nothing else can. Football teams face off at Hornet Stadium, baseball matches are usually at ASU Baseball Complex, and games of basketball are at Dunn-Oliver Acadome.
Events and Festivals There's never any shortage of events and festivals in Montgomery. One notable example is the Alabama Shakespeare Festival, one of the best regarded theaters in the nation, which showcases productions all year round, including a repertoire of works from Shakespeare, Broadway musicals, and works from Southern writers. Another must-see event in this city is the Alabama National Fair, which features several activities like choral festival, rodeos, performances, and other competitions. Southern Livestock Exposition Rodeo and Zoo Weekend are two other long-held traditions that locals and tourists are bracing for. Between these major festivals, the city's events calendar is filled brimming with other initiatives like art exhibits, dragon boat race festivals, concerts, and ballet productions.
Neighborhood Different neighborhoods have their own unique charm and character. And often, neighborhoods' idiosyncrasies rub off on the residents. Thus, choosing the right area is one decision you can't afford to make indiscriminately.