Rent to own Homes in Iowa City, IA
Best Place for Home Buyers! Apart from being named one of the Best Places to Live by CNN.Money, Iowa City is one of the few communities that has risen above the recent housing meltdown. Longfellow and Lucas Farms are just a few neighborhoods to check out here.
Iowa City, IA is a great place for affordable rent-to-own homes! With a median household income of over $48,148 and a median rent of $976, the Iowa City, IA 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 Iowa City, IA. 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 Iowa City, IA Property Resources
Rent to own Homes in Cities Near Iowa City, IA
- Alburnett
- Amana
- Anamosa
- Atkins
- Bertram
- Cedar Rapids
- Center Point
- Central City
- Coggon
- Coralville
- East Amana
- Ely
- Fairfax
- Hiawatha
- High Amana
- Homestead
- Iowa City
- Lisbon
- Marion
- Martelle
- Middle Amana
- Mount Vernon
- Newhall
- North Liberty
- Norway
- Oxford
- Palo
- Prairieburg
- Robins
- Shellsburg
- Shueyville
- Solon
- Springville
- Stone City
- Swisher
- Tiffin
- Toddville
- University Heights
- Urbana
- Walford
- Walker
- Watkins
Neighborhoods in Iowa City, IA
Hoover rent to own homes Horn rent to own homes Lemme rent to own homes Longfellow rent to own homes Lucas rent to own homes Mann rent to own homes Roosevelt rent to own homes Twain rent to own homes Wood rent to own homes Oak Grove rent to own homesPopular Zip Codes in Iowa City, IA
52243 rent to own homes 52246 rent to own homes 52240 rent to own homes 52242 rent to own homes 52245 rent to own homesBuying a Home in Iowa City, IA
Iowa City, IA is seeing rapid growth and Iowa City, IA's' housing market remains not optimal with an average home price that is 3% above the 2024 national average. Iowa City, IA is part of Johnson 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 Johnson is 1.43% which is above the national average, which is 0.99%.
Median Home Price in Iowa City, IA
Median Rent in Iowa City, IA
Top 14 Reasons to Live in Iowa City, IA
Booming City of Opportunities! Iowa City is ranked one of the fastest-growing towns in the state. Retail vacancy rates in the downtown area are among the strongest at 1.8%. The University of Iowa and the Old Capitol Building provide a generous spread of career opportunities for residents, and the city hosts the largest employment sectors (70% of the market) in bio-science and healthcare in the state!
Home-buying is a Solid Return on Investment! It's a good time to be a homeowner in Iowa City! Due to its economic vibrancy, the average mortgage rate has moved four basis points above the national average. Median home value in Iowa City ranks 62% greater than the state's average; this means owning a home is likely to give real returns on your money. Residential neighborhoods such as Coralville and University Heights are highly favorable areas, where rent to own houses are affordable options.
Beautiful Architectural Designs! You can drive from one side of town to the next and peruse a varied menu of contemporary and Victorian home constructions. House hunters can find a range of townhouses and rent to own homes on a small plot of land for personal landscaping needs. Prime residential properties on Hawk Ridge Drive and Heinz Road at Town Square may provide rent to own opportunities.
Visit The Englert Theatre! A fascinating historic monument, the Englert Theatre has hosted everyone from the famous Noam Chomsky to Pentatonix. It first opened in 1912, and today remains Iowa City's most iconic home of the arts. Grab a bite to eat before the show at the nearby Atlas World Grill.
Iowa Avenue Literary Walk! Long respected for its literary repertoire, Iowa's Avenue Literary Walk pays tribute to 49 authors and playwrights in a series of bronze relief panels. The Old Capitol Museum within the Capitol Building forms part of the tour.
WALK at the Pedestrian Mall! Yes, a mall catering only to bi-pedal locomotion! People who love to walk will relish the Pedestrian Mall. The mall stretches from Burlington Street to Washington Street and from Clinton Street to Lin Street, and is truly a one-of-a-kind gathering place.
Exciting Music Festivals! Iowa City Jazz Festival is an annual affair drawing thousands of patrons to its stage. Equally entertaining is the annual Iowa Soul Festival, typically held downtown on Iowa Avenue.
Magnet for Real Estate Investment! The city's healthy economy and low unemployment rate (currently at 3.4%; the national average is at 6.7%) has created one of the most stable real estate markets over the past five years. Commercial investors such as Hy-Vee, International Automotive Components, and a large number of restaurants have benefited from this investor-friendly climate.
Home Renter's Paradise! While homeowners walk away with 46% of the home sales pie, renters hold as much as 48% of the home rental market. Individuals looking for apartments to rent can look forward to a median rental rate that's 7.4% lower than the average for the country. Places like Mane Gate in Saddlebrook and Oakcrest Condominiums are worth a look.
Live Well for Less! Cost of living in Iowa is 5.8% below the national average, meaning residents enjoy a higher standard of living for fewer dollars. Recently, Forbes magazine ranked the city 19th in overall job growth, probably because the city has averaged 1.6% in job growth in recent years.
Best Cafes in Town! The Java House downtown made the list of America's Best 50 College Coffee Shops. For a traditional morning 'cup 'o Joe,' treat your palette to Fair Grounds Cafe.
Delight Your Taste Buds! Mondo's saloon is a local restaurant known best for its high-quality tequilas. Or, turn up the heat with some famous hometown burgers at Hamburger Inn No. 2, featured in the Washington Post and visited by the likes of Ronald Reagan and Bill Clinton.
Cultural Society
Steeped in the Arts! A literary town bursting with creative and intellectual energy, Iowa City has a bewildering array of literary works and performing arts. They include the popular Iowa Writers' Workshop, Summer of the Arts Program and Landlocked Film Festival.