Rent to own Homes in Bolingbrook, IL
During the housing boom of the 1950's, the city of Bolingbrook sprung up thirty miles southwest of the city of Chicago. The population of the community grew steadily until 2007, when it reached its peak at over 75,000. However, the residents still refer to their home as a village. In 2008, Bolingbrook was named 32nd on Money Magazine's list of 100 Best Places to Live, appearing again in 2010 at 43.
Bolingbrook, IL is a great place for affordable rent-to-own homes! With a median household income of over $92,184 and a median rent of $1,385, the Bolingbrook, 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 Bolingbrook, 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 Bolingbrook, IL Property Resources
Rent to own Homes in Cities Near Bolingbrook, IL
- Alsip
- Batavia
- Bedford Park
- Berkeley
- Bridgeview
- Broadview
- Burbank
- Downers Grove
- Elmhurst
- Fairmont
- Forest Park
- Frankfort
- Frankfort Square
- Glendale Heights
- Glen Ellyn
- Glenview
- Hanover Park
- Hillside
- Hodgkins
- Homer Glen
- Hometown
- Itasca
- La Grange Park
- Lockport
- Lombard
- Manhattan
- Markham
- Maywood
- Melrose Park
- Merrionette Park
- Midlothian
- Mokena
- Mooseheart
- Naperville
- Oak Brook
- Oak Forest
- Palatine
- Palos Heights
- Plainfield
- Ridgewood
- Rockdale
- Rosemont
- Schaumburg
- Schiller Park
- South Elgin
- Streamwood
- Warrenville
- Wayne
- Westchester
- Willow Springs
Neighborhoods in Bolingbrook, IL
Indian Oaks rent to own homes Cherrywood rent to own homes Town Countrys Cidercreek rent to own homes Home Run Bolingbrook rent to own homes Pasquinellis Hickory Oaks rent to own homes Whispering Oaks rent to own homes Winding Meadows Estates rent to own homes Augusta Village rent to own homes Indian Bounday rent to own homes Indian Crossing rent to own homesBuying a Home in Bolingbrook, IL
Bolingbrook, IL is seeing rapid growth and Bolingbrook, IL's' housing market remains not optimal with an average home price that is 6% above the 2024 national average. Bolingbrook, IL is part of Will 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 Will is 2.05% which is above the national average, which is 0.99%.
Median Home Price in Bolingbrook, IL
Median Rent in Bolingbrook, IL
Top Reasons to Live in Bolingbrook IL
Housing Statistics Being so close to downtown Chicago, the cost of living in Bolingbrook can be high. The median price for homes for sale is $164,000, and there are approximately 250 houses for sale in Bolingbrook, with the average sale price being around $224,000. Some of these homes are also available to rent to own. Almost 500 homes have been sold since November of 2012, with 79.77 percent of Bolingbrook homes now owner occupied, and 16.21 percent rented.
Largest Employers and Industries As is common with suburbs, many of Bolingbrook residents make the 45 minute commute into Chicago. Recently, major retailers such as IKEA have moved into the area, though Bolingbrook's largest industry is still food and beverage distribution. The biggest employer is Southern Wine & Spirits, and as of February of 2013, they employed approximately 900 people. Quantum Foods Inc. is a close second, employing about 700.
Tourist Attractions Bolingbrook is a great stop for nature lovers. The most popular tourist attraction is the Hidden Oaks Nature Center, which is home to a historic trout farm that holds fishing derby's in the late summer and early fall. Along with their numerous trails, Hidden Oaks boasts a two story rooftop garden for family picnics, also offering nature programs and camps for young visitors. The nature center is home to three bee hives and is a great place to buy local honey. Another popular stop is the Illinois Aviation Museum, located in a refurbished hangar at Clow International Airport. The museum is run entirely by volunteers and has a large collection of refurbished and replica aircrafts. Residents and tourists alike also spend both hot summer days and dreary winter months at Pelican Harbor Aquatic Park, which has water slides and pools both indoors and outdoors.
Weather and Climate Weather in Bolingbrook is much like the weather in Chicago, with warm summers and very cold winters. The average temperature is 51 degrees, with August being the hottest month at an average temperature of 75, and February the coldest with an average temperature of 9 degrees. Bolingbrook gets approximately 40 inches of rainfall a year, fairly evenly distributed throughout the year. January and February are the driest months, while the summer tends to be the wettest.
Local Shopping The central hub of shopping in Bolingbrook, Illinois is the Promenade. With over 60 retail stores, 16 restaurants, and the iPic Theater, there is always something to do at the Promenade. In the summer months, it's home to weekly farmer's markets, concerts, and car shows, as well as activities for children on the weekends. For visiting tourists, Aloft Bolingbrook Hotel is located just down the street from the Promenade.