Rent to own Homes in Freeport, IL
Site of the second senatorial debate between Abraham Lincoln and Stephen A. Douglas, today Freeport is a city in Stephenson County with a population of 25,638. Nicknamed the Pretzel City, USA because its settlers from Germany founded a pretzel company in the town, Freeport has much to offer local residents. In addition to being home to the oldest Carnegie Library in Illinois, Freeport also has more than 300 acres of park land available to residents.
Freeport, IL is a great place for affordable rent-to-own homes! With a median household income of over $39,787 and a median rent of $669, the Freeport, 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 Freeport, 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.
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61032 rent to own homesBuying a Home in Freeport, IL
Freeport, IL is seeing rapid growth and Freeport, IL's' housing market remains optimal with an average home price that is -69% below the 2024 national average. Freeport, IL is part of Stephenson 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 Stephenson is 2.28% which is above the national average, which is 0.99%.
Median Home Price in Freeport, IL
Median Rent in Freeport, IL
Top 5 Reasons to Live In Freeport, Illinois
Numerous parks! When it comes to outdoor recreation, it is hard to beat the eight parks that are in Freeport. Named as one of the top recreational facilities in the state, Krape Park is home to several soccer fields and features a beautiful limestone waterfall. Head to the Oakdale Nature Preserves for 130 acres of streams, conservation land, and forests. Guests can also enjoy a nature center, campsites and an outdoor theater at Oakdale.
Plenty to do! Learn about local history at the Stephenson County Historical Society. Opened in 1980 to preserve and display artifacts commemorating historical milestones, the museum is open daily for tours. Save a beautiful day to explore the Don Opel Arboretum, which features more than 3,000 species of trees, shrubs and flowers.
Institutes for learning! Freeport is home to two colleges: Highland Community College and Columbia College Freeport. As a result, the city is alive and bustling with several thousands college students from September through May. Not only do the colleges add much needed life to the city, but residents are also invited to on-campus performances and to use the state-of-the-art research facilities and libraries at both schools.
Plenty of listings! The number of homes listed for sale in Freeport is at an all time high, with more 100 properties available. As a result, Freeport is a buyer's market because you have plenty of inventory to choose from. Newcomers may want to consider a rent to own home in a neighborhood like the German Valley or S. West Avenue before buying their dream place.
Low list prices! The average list price for a single family home in Freeport is just $99,294. When compared to nearby towns like Lake Summerset at $198,149 and Lena at $131,048, it's clear that Freeport is a bargain. Communities like S. Van Brooklyn Road and Locust Avenue offer the best bang for your buck.