Rent to own Homes in Grayslake, IL
Grayslake is a village in Lake County, Illinois and is home to about 21,000 people. Located just 40 miles north of Chicago's downtown center, Grayslake is a great place to find a bit of fresh air and space outside of the city. The village started to grow in 1880 when the Wisconsin Central Railroad built a rail line, as well as a station, running directly past Grays Lake.
Grayslake, IL is a great place for affordable rent-to-own homes! With a median household income of over $99,583 and a median rent of $1,153, the Grayslake, 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 Grayslake, 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 Grayslake, IL Property Resources
Rent to own Homes in Cities Near Grayslake, IL
- Antioch
- Bannockburn
- Bohners Lake
- Bristol
- Browns Lake
- Bull Valley
- Burlington
- Camp Lake
- Carpentersville
- Eagle Lake
- East Dundee
- Fox Lake
- Gages Lake
- Genoa City
- Grayslake
- Green Oaks
- Hainesville
- Hawthorn Woods
- Highland Park
- Highwood
- Holiday Hills
- Indian Creek
- Knollwood
- Lake Barrington
- Lake Catherine
- Lake in the Hills
- Lake Ivanhoe
- Lakemoor
- Lake Villa
- Lily Lake
- Lincolnshire
- Long Lake
- McCullom Lake
- Paddock Lake
- Palatine
- Pell Lake
- Port Barrington
- Powers Lake
- Richmond
- Rochester
- Round Lake
- Salem Lakes
- Solon Mills
- Sturtevant
- Trevor
- Twin Lakes
- Union Grove
- Volo
- Wilmot
- Winthrop Harbor
Neighborhoods in Grayslake, IL
Prairie Crossing rent to own homesPopular Zip Codes in Grayslake, IL
60030 rent to own homesBuying a Home in Grayslake, IL
Grayslake, IL is seeing rapid growth and Grayslake, IL's' housing market remains not optimal with an average home price that is 11% above the 2024 national average. Grayslake, 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 Grayslake, IL
Median Rent in Grayslake, IL
Top 6 Reasons to Live in Grayslake, IL
The Rollins Savanna Forest Preserve! With 1,225 acres of restored prairies, marsh, meadows and wetlands, the Rollins Savanna Forest Preserve covers most of the former White Picket Fence Farm. Restored by the Lake County Forest Preserves group, the preserve is now home to several species of birds, grasses, trees and animals.
It's a buyer's market! Home values are currently averaging $189,000 per property, up 6 percent from prices in 2013. Properties surrounding Grays Lake in the center of the village are more expensive than those located in surrounding lands, but all Grayslake real estate is relatively affordable. Townhouses along Shakespeare Drive come in at under $170,000, while three-bedroom homes along Burton Street can cost up to $213,000.
Affordable rents! Whether you want a normal rental property or are searching for rent to own houses, the rates aren't going to hurt your bank account. Larger homes are still available for rental costs under $1,500 per month in most areas, including near Central Park and the Lake.
Fun Places to Shop! From hobby shops to clothing boutiques, Grayslake really has a great selection of stores to choose from. Grayslake Hobby World lets you explore your inner helicopter pilot, while Unique Gifts and Games helps you find that perfect gift or entertainment piece for the next party. Kohl's, Avenue and Lola's Fitting Room are the perfect place to find fashionable clothing.
Good Eats! Spend your Sundays at Waukegan's for their Best Sunday Brunch, or head over to Fred's Diner for some traditional American fare. Feeling a bit adventurous? No problem! Hit up Abel's Pizza and Mexican Food, or the Lovely Thai Restaurant for some diverse dining options.
Gray's Lake and annual entertainment! The town's namesake isn't just a pretty body of water, it's a source of recreation all through the year. Come here for ice skating, hockey, fishing, swimming and boating, depending on the season. During the summer, you can also enjoy the annual Grayslake Days, including the Bike and Pet Parade and local musical talent.