Rent to own Homes in Galesburg, IL
Galesburg, located in northeast Illinois, is a town rich in history and education. Galesburg was a stop on the Underground Railroad and was the birthplace of Illinois' first anti-slavery society. The Lincoln-Douglas debates was held in Galesburg and poet Carl Sandburg was born here. Knox College and Carl Sandburg College are both based in Galesburg. The city's train accessibility to both Iowa and Chicago make it a gem of the Midwest.
Galesburg, IL is a great place for affordable rent-to-own homes! With a median household income of over $37,322 and a median rent of $622, the Galesburg, 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 Galesburg, 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 Galesburg, IL Property Resources
Rent to own Homes in Cities Near Galesburg, IL
- Abingdon
- Alexis
- Alpha
- Altona
- Andover
- Avon
- Berwick
- Bishop Hill
- Cable
- Cameron
- Dahinda
- East Galesburg
- Ellisville
- Fairview
- Galesburg
- Gerlaw
- Gilson
- Henderson
- Knoxville
- London Mills
- Lynn Center
- Maquon
- Monmouth
- Nekoma
- New Windsor
- North Henderson
- Oak Run
- Oneida
- Ophiem
- Prairie City
- Rio
- St. Augustine
- Swedona
- Victoria
- Viola
- Wataga
- Williamsfield
- Woodhull
Neighborhoods in Galesburg, IL
No neighborhoods foundBuying a Home in Galesburg, IL
Galesburg, IL is seeing rapid growth and Galesburg, IL's' housing market remains optimal with an average home price that is -65% below the 2024 national average. Galesburg, IL is part of Knox 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 Knox is 1.84% which is above the national average, which is 0.99%.
Median Home Price in Galesburg, IL
Median Rent in Galesburg, IL
Top 5 Reasons to Live in Galesburg
Community involvement! Galesburg's annual Railroad Days offers entertainment for railroad enthusiasts and people of all ages. Railroad Days is held each year during the fourth weekend of June and celebrates the area's rich railroad history and its impact on the industry. Visitors looking to enjoy Railroad Days can stay at nearby Best Western Prairie Inn or Quality Inn of Galesburg.
Real estate opportunities! Galesburg's real estate inventory includes rent to own options for the buyer who is considering establishing permanent roots in town. Possible options in neighborhoods such as Hermon or City Center, may include rent to own homes, lease-to-own homes, for-sale-by-owner (FSBO) homes, REO-foreclosure homes or pre-foreclosure homes.
Home prices below national average! Galesburg's median home value is $64,700 according to Zillow. Buying property with the help of a real estate broker in Galesburg, such as from CENTURY 21 or RE/MAX Preferred Properties could result in a $112,800 savings.
Dining destination! Galesburg's downtown Seminary Street Historic District offers its residents and visitors coffee shops and restaurants, such as Landmark Cafe & Creperie or the Packing House. Once abandoned, Galesburg now boasts a vibrant downtown.
Shopping destination! Galesburg residents have shopping destinations right in their own backyard. The historic district is filled with shopping such as the Attic Antique Shop and Then & Now, antique dealers, a spa and more.
Rich history! Galesburg is a mecca for history buffs. The Galesburg Area Convention and Visitors Bureau can help visitors plan tours to learn more about the history of Galesburg and its impact on the United States. Visitors can tour the city of Galesburg's historic district, learn about the homes on the U.S. Department of the Interior's National Register of Historic Places and find out about notable Galesburg residents. Visitors can visit Carl Sandburg's home, see a walkway lined with his famous quotes and see where his ashes lay. Knox College's "Old Main" was the location of the 1858 Lincoln-Douglas debates. Galesburg's railroad museum documents its centuries old railroad heritage and memorabilia.