Rent to own Homes in Granite City, IL
Granite City, a small town in Madison County, Illinois, was founded in 1896 by two brothers, Henry and Frederick Niedringhaus, who came to the area to open a steel company. The company created kitchen products that resembled granite, but were actually made from steel, which is how the city got its name. The town continues to be a center of industry and manufacturing and is home to a variety of companies, including Kraft, Capri-Sun and Heidtman Steel.
Granite City, IL is a great place for affordable rent-to-own homes! With a median household income of over $53,545 and a median rent of $716, the Granite City, 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 Granite City, 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 Granite City, IL Property Resources
Rent to own Homes in Cities Near Granite City, IL
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- Ballwin
- Bella Villa
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- Bel-Nor
- Berkeley
- Beverly Hills
- Bridgeton
- Calverton Park
- Champ
- Chesterfield
- Clayton
- Country Life Acres
- Crestwood
- Crystal Lake Park
- Dorsey
- Dupo
- Fairmont City
- Ferguson
- Flordell Hills
- Florissant
- Frontenac
- Glendale
- Glen Echo Park
- Greendale
- Green Park
- Hanley Hills
- Hazelwood
- Hillsdale
- Huntleigh
- Kinloch
- Ladue
- Lakeshire
- Manchester
- Maryland Heights
- Normandy
- Oakland
- Olivette
- Overland
- Pagedale
- Pine Lawn
- Portage Des Sioux
- Sycamore Hills
- University City
- Velda City
- Vinita Terrace
- Wellston
- Westwood
- Wilbur Park
Neighborhoods in Granite City, IL
No neighborhoods foundPopular Zip Codes in Granite City, IL
62040 rent to own homesBuying a Home in Granite City, IL
Granite City, IL is seeing rapid growth and Granite City, IL's' housing market remains optimal with an average home price that is -62% below the 2024 national average. Granite City, IL is part of Madison 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 Madison is 1.75% which is above the national average, which is 0.99%.
Median Home Price in Granite City, IL
Median Rent in Granite City, IL
Top 5 Reasons to Live in Granite City, IL
The eating is good! People who enjoy eating out at restaurants will be happy living in Granite City. The small town offers a large selection of restaurants. Residents enjoy Uncle Linny's Family Restaurant for home-cooked comfort meals, while 88 China is a popular spot for a taste of international cuisine.
Desirable living! Lots of people want to live in Granite City and the area's vacancy rate is about 9 percent. Residents enjoy the city and stay put once they've found the perfect home, which means it might take a little while to find a place to live. The area provides several parks for residents to enjoy. If you enjoy picnics, check out Wilson Park in the center of town. Scenic Horseshoe Lake offers recreational opportunities for residents who love camping, fishing or spending time on the water.
Affordable rentals! People in the market for affordable rentals or rent to own homes will find a great selection in the area. The average rent for a studio is about $543 per month, while one bedroom apartments rent for about $643 per month. Among these neighborhoods, there are a lot of convenient places to shop to stock kitchens and pantries. One of the town's best grocery shopping spots, Cionko's Inc., offers high-quality, fresh local meat, while Buck's Convenience stocks necessary items like snacks and toiletries.
Sweet treats in town! Illinois might get cold, but that doesn't mean the people of Granite City don't enjoy a good ice cream treat. New residents who have a sweet tooth will enjoy the selection of ice cream shops. Try Dairy Bar for an old fashioned ice cream parlor feel or Weather Vane Drive-In for delicious American food and an ice cream sundae.
Lots of nightlife! It's not all about eating in Granite City; people like to drink, too. The town is home to some great nightlife spots, like the classic O'Connell's Pub or Bindy's, a great place to grab a beer.