Rent to own Homes in Marshalltown, IA
With over 27,000 citizens counted in the 2010 Census, Marshalltown had a population growth of nearly 6 percent during a decade when the economy was falling apart almost everywhere else. This growth showcases just how sought out the local economy and homes are in the city. Of course, being the home of Adrian Constantine Anson, one of America's first baseball superstars, could be a factor in this growth.
Marshalltown, IA is a great place for affordable rent-to-own homes! With a median household income of over $54,778 and a median rent of $719, the Marshalltown, 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 Marshalltown, 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.
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Marshalltown, IA is seeing rapid growth and Marshalltown, IA's' housing market remains optimal with an average home price that is -57% below the 2024 national average. Marshalltown, IA is part of Marshall 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 Marshall is 1.4% which is above the national average, which is 0.99%.
Median Home Price in Marshalltown, IA
Median Rent in Marshalltown, IA
Top 3 Reasons to Live in Marshalltown
Constant real estate growth! Unlike many other cities throughout America, Marshalltown's housing market continued to grow throughout the economic meltdown better known as the Great Recession. Even with its proximity to the Iowa River, the growth hasn't been over the top, and this means that prices haven't jumped substantially at any given time. Over the last decade, however, home valuations have gone up over 24 percent. When this is added to the fact that over 63 percent of homes in the city are actually owned, as opposed to rented, it's easy to recognize that the housing market in the area is promising and people are actually choosing to stay long-term for reasons other than Elmwood Country Club.
Variety of different attractions! Maybe one of the greatest things about Marshalltown is the number and variety of attractions the city has. For those who just want to have a bit of fun when it's warm outside, the Marshalltown Aquatic Center provides a great place to spend time. Anyone whose tastes are more in the 'need for speed' arena can head over to the Marshalltown Speedway for a full schedule throughout the warmer months. Even those with more quirky tastes will have something to check out in The Big Treehouse. It has 12 levels and 14 porch swings, so yes, the name is warranted.
Low cost of living! Even though the area's economic health seems stable, due to people opting to actually buy their homes, it's still relatively inexpensive to purchase a property and live in Marshalltown. The median home cost in the area is around 40 percent lower than that of America in general, and for those who are looking for rent to own homes, this presents a great opportunity. Add this to the fact that the cost of living is lower than in Iowa in general, and this means anyone searching for the right neighborhood in Marshalltown has made an excellent decision. Now they just have to decide whether to live near Riverview Park or Jaycees Park.