Rent to own Homes in Rexburg, ID
Rexburg boasts a population of a little over 25,000 residents. Residents of the town are proud of their strong community, which was tested during the Teton Dam Flood of 1976, when much of the town was plunged underwater. The townspeople worked together over the course of several days to drain and salvage city structures. A museum has been erected in the Rexburg Tabernacle and has become a poignant reminder of the event.
Rexburg, ID is a great place for affordable rent-to-own homes! With a median household income of over $33,278 and a median rent of $765, the Rexburg, ID 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 Rexburg, ID. 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 Rexburg, ID
Neighborhoods in Rexburg, ID
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83441 rent to own homes 83440 rent to own homes 83460 rent to own homesBuying a Home in Rexburg, ID
Rexburg, ID is seeing rapid growth and Rexburg, ID's' housing market remains not optimal with an average home price that is 2% above the 2024 national average. Rexburg, ID is part of Madison 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 Madison is 0.66% which is below the national average, which is 0.99%.
Median Home Price in Rexburg, ID
Median Rent in Rexburg, ID
Top 5 Reasons to Live in Rexburg, ID
Outdoor fun! At Porter Park there is the Rexburg Spray Park that is fun for young and old to cool off during a hot summer day. The Rexburg Golf Course is a 9 hole course and open to the public.
A community with a strong focus on the arts! The Rexburg Arts Council works together to promote the arts in town. The all-volunteer Rexburg Tabernacle Orchestra performs concerts three times per year. The Upper Valley Women's Choir was created in 1978. The ladies host concerts several times a year, and residents always look forward to their annual holiday choir event.
Ample opportunities to rent! Approximately 65 percent of the homes are occupied by renters. Some renters seek to purchase their homes through a rent to own program, which allows them to allot a certain amount of their rent each month towards the purchase of the home. Rent to own houses have become a popular option for people planning to buy a home at a later date. When renting a house, some renters opt to also rent furniture or appliances from local suppliers. Rent-A-Center rents appliances, electronics and home furnishings. Rexburg Washers rents washers and dryers by the month.
Local mortgage lenders help to bolster a strong housing market! The real estate prices in Rexburg are well above the national average. With the town's house appreciation rate rising, home buyers often seek traditional house loans or rent to own homes. The Beehive Federal Credit Union and Eagle Home Mortgage work with locals to help secure home loans.
History lives on in the town! Numerous historic buildings capture the eye in the town of Rexburg. In 1971, the local Romance Theater was created. It was home to silent movies and vaudeville acts which drew a large crowd from locals and neighboring towns. During the Teton Dam flood the theater suffered considerable damage. In 2005, the city purchased the theater and started to restore it to its former glory. Rexburg has a distinct historic neighborhood that is home to the towering Italianate structure of the Rexburg Tabernacle, built in 1911.