Rent to own Homes in Bloomingdale, IL
Bloomingdale is a suburb of Chicago that's home to approximately 22,000 people. The village has roots from the early 1800s when the Meacham family began using the land for farming; hence, the area was once referred to as Meacham Grove. Tourists and residents alike can enjoy an easy commute from Chicago O'Hare, one of the largest airports in the nation, and Midway airport. Public transportation by train and bus is also popular through Metra's Milwaukee West and Union Pacific train lines and Local Pace bus service is used for local transportation. Bloomingdale's Midwest location is known for its cold winter months, with temperatures averaging barely into the 30s during December and January.
Bloomingdale, IL is a great place for affordable rent-to-own homes! With a median household income of over $87,397 and a median rent of $1,358, the Bloomingdale, IL 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 Bloomingdale, IL. 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 Bloomingdale, IL Property Resources
Rent to own Homes in Cities Near Bloomingdale, IL
- Alsip
- Arlington Heights
- Batavia
- Bedford Park
- Bellwood
- Berkeley
- Bridgeview
- Broadview
- Burbank
- Carol Stream
- Carpentersville
- Downers Grove
- East Dundee
- Elmhurst
- Fairmont
- Forest Park
- Glendale Heights
- Glen Ellyn
- Glenview
- Golf
- Hanover Park
- Hawthorn Woods
- Hodgkins
- Hometown
- La Grange Park
- Lake Barrington
- Lincolnshire
- Lockport
- Lombard
- Maywood
- Melrose Park
- Merrionette Park
- Midlothian
- Mokena
- Naperville
- Norridge
- Oak Brook
- Oak Forest
- Palatine
- Palos Heights
- Plainfield
- Ridgewood
- Rockdale
- Rosemont
- Schaumburg
- Schiller Park
- South Elgin
- Westchester
- Willow Springs
- Wilmette
Neighborhoods in Bloomingdale, IL
Bloomingdale rent to own homesBuying a Home in Bloomingdale, IL
Bloomingdale, IL is seeing rapid growth and Bloomingdale, IL's' housing market remains not optimal with an average home price that is 41% above the 2024 national average. Bloomingdale, IL is part of DuPage 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 DuPage is 1.71% which is above the national average, which is 0.99%.
Median Home Price in Bloomingdale, IL
Median Rent in Bloomingdale, IL
Top 4 Reasons to Live in Bloomingdale, IL
Fun entertainment with a neighborhood feel! Music lovers will be delighted to find rent to own homes in Bloomingdale because the town loves its city concerts. Old Town Park presents a Summer Concert Series for the community every year, starting in June, and monthly concerts during lunchtime in front of the city library at Founders Park Gazebo, also during the summer months. Attendees are invited to BYOB (bring your own blankets!) and chairs to sit and soak up the local, sweet melodies.
Schedule tee time on the greens! Residents of the village have access to not one, but two major golf courses. The Bloomingdale Golf Club underwent a redesign in 1998 with renovations that now include a par 71 golf course, including ponds, sand bunkers and grass mounding throughout the course, creating a fun day for any skill level. The median household income level for Bloomingdale is $70,831, which allows golf enthusiasts to enjoy the luxurious Hilton Chicago Indian Lakes Resort, host to several national golf events, which boasts 27 holes, several putting greens, a full-service practice facility and driving range for a one-of-a-kind golf trip experience.
Renting is the way to go! The vacancy rate in Bloomingdale is only 6.39 percent, lower than the national average, but 74.14 percent of properties are owner-occupied so if you're looking to get into the Bloomingdale market, renting is the way to go. The median rental rate in Bloomingdale is $1,137, which is still lower than the national median rental price at $1,471. To find an apartment, look at Stratford Place Apartments on Butterfield Drive or search for a rental house around Bloomingdale Road.
City availability without the metropolitan prices! People looking for homes for sale will notice a comparative difference in average housing prices between Bloomingdale and Chicago. Bloomingdale's median housing price is $295,856 while Chicago's is nearly $16,000 more! If you're looking to buy a house, you can start your search in the neighborhood around Founders Pointe South or Jefferson Lane.