Rent to own Homes in San Luis Obispo, CA
Houses are worth more. Home values have gone up by almost 15% in the past year alone, and they're expected to increase by 6% in the coming year. The average home was built in 1975, with 1,601 square feet and property taxes at $3,204. Look for homes for rent, houses for purchase or rent-to-own homes in Alta Vista or Edna Islay.
San Luis Obispo, CA is a great place for affordable rent-to-own homes! With a median household income of over $58,546 and a median rent of $1,611, the San Luis Obispo, CA 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 San Luis Obispo, CA. 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 San Luis Obispo, CA Property Resources
Rent to own Homes in Cities Near San Luis Obispo, CA
- Arroyo Grande
- Atascadero
- Avila Beach
- Avilla Beach
- Blacklake
- California Polytechnic State University
- Callender
- Cayucos
- Creston
- Edna
- El Paso de Robles (Paso Robles)
- Garden Farms
- Grover Beach
- Guadalupe
- Los Berros
- Los Osos
- Los Ranchos
- Morro Bay
- Nipomo
- Oceano
- Paso Robles
- Pismo Beach
- San Luis Obispo
- Santa Margarita
- Templeton
- Woodlands
Neighborhoods in San Luis Obispo, CA
The Southside rent to own homes Alta Vista rent to own homes San Luis Obispo Civic Center rent to own homes Downtown San Luis Obispo Core rent to own homes Roundhouse Place rent to own homes Mill Street Historic District rent to own homes Santa Rosa rent to own homes Higuera rent to own homes San Luis Drive rent to own homes Meadow Park rent to own homesPopular Zip Codes in San Luis Obispo, CA
93403 rent to own homes 93406 rent to own homes 93407 rent to own homes 93408 rent to own homesBuying a Home in San Luis Obispo, CA
San Luis Obispo, CA is seeing rapid growth and San Luis Obispo, CA's' housing market remains not optimal with an average home price that is 205% above the 2024 national average. San Luis Obispo, CA is part of San Luis Obispo 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 San Luis Obispo is 0.58% which is below the national average, which is 0.99%.
Median Home Price in San Luis Obispo, CA
Median Rent in San Luis Obispo, CA
9 Reasons to Live in San Luis Obispo CA
Distinctive theaters. The city takes pride in theaters that are architecturally or technologically significant. The Fremont Theater is an Art Deco beauty that opened in 1942. It still serves as a theater and concert hall. With the installation of 98 solar panels in 2004, the Palm Theater became the first movie theater in the country to be powered by the sun.
Get into the market. Now's a great time to buy a home that's rent-to-own or financed. Homes are selling for almost 10% less than their asking prices. Median list is at $589,900 and median sale price is at $535,700. Areas like Emerald Hills and Foothill offer lots of homes to choose from.
Hear and see the best. In the summer, sounds of classical music fill the air during the ten-day Festival Mosaic. Venues include the Mission San Luis Obispo de Tolosa. The visual senses receive their stimulation in the early spring during the San Luis Obispo International Film Festival.
Find a bargain. Median list prices bottomed out in early 2013 before peaking in July of that year and dropping down to their current amount. You can find bargains among the houses for sale because more than two-thirds of the listings already have a price cut, and almost 20% are sold for below the offering price. Look for rent-to-own houses in Highland or Laguna Lake.
More renters means more buying options. Almost two-thirds of the real estate consists of single-family properties. Yet, about 58% of the residents are renters. You can find rentals in Margarita and Lakewood.
Do it in downtown. Take the Old SLO Trolley for a charming way to explore the one-of-a-kind boutiques and well-known chain stores that populate downtown. Find out about the area at several nearby museums, such as the History Center of San Luis Obispo County. Reward all your effort by winding down at spas like the the San Luis ObiSpa.
Relatively new real estate. Over a third of the residential structures were built from 1980 to 1999, and over 10% are from the 21st century. You can find newer homes in areas like Prefumo and Meadow Park.
Enjoy a landmark. You can enjoy superb dining, shopping and playing from just one location if you're at the Madonna Inn. This local landmark, in business in 1958, wows visitors and residents with such events as trails rides. All horses and equipment are provided; you can choose the One-Hour Trail Ride or opt for longer rides on the trails.