Rent to own Homes in Elmwood Park, IL
Need a place to live that is close to Chicago, but away from city life? Then Elmwood Park, Illinois is worth checking out. The village of Elmwood Park sits on the northwest side of the city and takes up less than two miles of space. The village incorporated in 1914 and has served as a haven for those who want to be close to the action of Chicago, but still maintain a sense of community. With a population of just under 25,000 people, Elmwood Park is a mix of small-town life and big-city possibilities.
Elmwood Park, IL is a great place for affordable rent-to-own homes! With a median household income of over $63,312 and a median rent of $1,191, the Elmwood Park, 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 Elmwood Park, 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 Elmwood Park, IL Property Resources
Rent to own Homes in Cities Near Elmwood Park, IL
- Addison
- Alsip
- Bannockburn
- Barrington
- Bensenville
- Brookfield
- Burr Ridge
- Calumet Park
- Cicero
- Clarendon Hills
- Countryside
- Crestwood
- Deer Park
- Des Plaines
- Elk Grove Village
- Evanston
- Forest Lake
- Forest View
- Glencoe
- Golf
- Green Oaks
- Harwood Heights
- Hawthorn Woods
- Highland Park
- Highwood
- Indian Creek
- Indian Head Park
- Kildeer
- Knollwood
- Libertyville
- Lincolnshire
- Lincolnwood
- Mettawa
- Morton Grove
- Mundelein
- Niles
- Northbrook
- North Riverside
- Oakbrook Terrace
- Palatine
- Palos Park
- Park Ridge
- River Forest
- Riverwoods
- Streamwood
- Tinley Park
- Western Springs
- Wheeling
- Woodridge
- Worth
Neighborhoods in Elmwood Park, IL
No neighborhoods foundPopular Zip Codes in Elmwood Park, IL
60707 rent to own homesBuying a Home in Elmwood Park, IL
Elmwood Park, IL is seeing rapid growth and Elmwood Park, IL's' housing market remains not optimal with an average home price that is 23% above the 2024 national average. Elmwood Park, IL is part of Cook 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 Cook is 1.38% which is above the national average, which is 0.99%.
Median Home Price in Elmwood Park, IL
Median Rent in Elmwood Park, IL
Top 4 Reasons to Live in Elmwood Park, IL
Where's the beef? If you own a home in Elmwood Park, this is a serious question. One of the top restaurants in the village is the famous Johnnie's Beef, home of scrumptious Italian-style sandwiches. Men's Health magazine called a sandwich from Johnnie's the best of the best and the restaurant is a favorite of the Food Network's sandwich king Jeff Mauro. If BBQ is more your thing, how about J&T Smoking Barbeque down on Grand Ave., instead. Spend any time in Elmwood Park and you will be looking for the beef.
Diverse housing in popular residential area. It makes sense that you might look for rent to own houses in this region, especially if you work or go to school in Chicago. There's a wide variety of housing options in this area, with many housing styles and prices to suit any budget. The village boasts many single family houses, but condominiums and apartment complexes have popped over the last decade, improving your chances of finding the right home for your needs. Once settled in, you can enjoy local amenities like access to the Oak Park Hospital and the ultra-modern Elmwood Park Public Library.
Go to the theater! Chicago is known for its vast theater culture, like Broadway in Chicago, but Elmwood Park has something to offer for those who want to enjoy a show near their home. Check out the Elmwood Park Theatre to hear music performed by the Elmwood Park Community Chorus, or relax at the Concert Series offered each season in Central Park.
Find real estate close to the city at small-town prices. Ultimately, this might be one of the best reasons to look for homes for sale or rent in Elmwood Park. Homes are more affordable and have a wider range of options to choose from. Then you can walk or drive to the Elmwood Park station and take the train into the Chicago Unions Station or travel to Elgin to take a class at the National Louis University.