Rent to own Homes in Deerfield, IL
Deerfield is a small village that is part of both Cook and Lake counties. It is located approximately half an hour from the bustling metropolis of Chicago. Commuters into the city take the Metra directly into downtown. The village's name comes from the number of deer that reside in the area, although it was just four votes shy of being named Erin by its Irish settlers. The last census counted just over 18,000 residents in the area.
Deerfield, IL is a great place for affordable rent-to-own homes! With a median household income of over $162,064 and a median rent of $1,889, the Deerfield, 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 Deerfield, 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 Deerfield, IL Property Resources
Rent to own Homes in Cities Near Deerfield, IL
- Bannockburn
- Bedford Park
- Berkeley
- Bridgeview
- Broadview
- Burbank
- Carpentersville
- Downers Grove
- East Dundee
- Elmhurst
- Forest Park
- Gages Lake
- Glendale Heights
- Glen Ellyn
- Glenview
- Golf
- Grayslake
- Green Oaks
- Hainesville
- Hanover Park
- Hawthorn Woods
- Highland Park
- Highwood
- Hodgkins
- Indian Creek
- Knollwood
- La Grange Park
- Lake Barrington
- Lakemoor
- Lake Villa
- Lincolnshire
- Lombard
- Long Lake
- Maywood
- Melrose Park
- Mundelein
- Naperville
- Oak Brook
- Old Mill Creek
- Palatine
- Park City
- Port Barrington
- Rosemont
- Round Lake
- Schaumburg
- Schiller Park
- Volo
- Wauconda
- Westchester
- Willow Springs
Neighborhoods in Deerfield, IL
Woodland Park rent to own homes Deerfield Park rent to own homes Briarwood Vista rent to own homes Briarwoods rent to own homes Deerfield rent to own homes Goldmans North Shore Golf Links rent to own homesPopular Zip Codes in Deerfield, IL
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Deerfield, IL is seeing rapid growth and Deerfield, IL's' housing market remains not optimal with an average home price that is 140% above the 2024 national average. Deerfield, IL is part of Lake 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 Lake is 2.19% which is above the national average, which is 0.99%.
Median Home Price in Deerfield, IL
Median Rent in Deerfield, IL
Top 4 Reasons to Live in Deerfield, IL
Access to activities galore! Do you enjoy reading? Head to the Deerfield Public Library. Do you enjoy golfing? Check out the Deerfield Golf and Learning Center. Do you love fine dining close to home? Don't overlook Tom & Eddies or Rhapsody Cafe. Is shopping your bag? Deerfield Mall is right around the corner. Do you love community events? You'll love the Deerfield Festival of the Fine Arts. You get the idea - this is a bustling community where you'll never lack fun!
Corporate headquarters keep the economy thriving! There are several manufacturers that call the Deerfield community home. Walgreens, the largest drug store in the U.S., has its headquarters in the village and reported a boost in earnings last year of 27%. Of course, Deerfield is also home to many smaller employers including Astor Construction Co., Whole Foods Market and Carramerica National. Whatever business you're in, you should have plenty of employment options when you move here!
Home values exceed the state average! Those looking for homes to rent will find that home values are nearly $300,000 more than median home values for the entire state of Illinois. Rent to own options are ideal for people who want to live in an outstanding house without committing to a mortgage right away. If that sounds more your style, check out subdivisions like Bristol Estates and Deerfield Park.
Healthy real estate climate! The unemployment rate here is below state average, and the average household income in Deerfield exceeds $121,000 -- double the state average! What this means for real estate is that homes will continue to maintain their value as people who settle here tend to stay here. People who choose to call Deerfield home often choose to put down roots in the community, finding ideal life-work balance in tree-lined, friendly neighborhoods like Scatterwoods and Meadowbrook. Deerfield provides outstanding quality of life, roomy homes and large yards with easy access to career and leisure opportunities just a short drive away in Chicago.