Rent to own Homes in Highland Park, IL
Highland Park is a suburb located 26 miles north of the city of Chicago. Highland Park is in Lake County on the North Shore. Its Metra train line access and burgeoning downtown area make Highland Park an ideal town for those looking to enjoy entertainment close to home and while still easily commuting to the city for work.
Highland Park, IL is a great place for affordable rent-to-own homes! With a median household income of over $147,067 and a median rent of $1,666, the Highland 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 Highland 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 Highland Park, IL Property Resources
Rent to own Homes in Cities Near Highland Park, IL
- Bannockburn
- Bedford Park
- Berkeley
- Bridgeview
- Broadview
- Burbank
- Carpentersville
- Downers Grove
- East Dundee
- Elmhurst
- Forest Park
- Gages Lake
- Glendale Heights
- Glen Ellyn
- Glenview
- Golf
- Grayslake
- Green Oaks
- Hainesville
- Hanover Park
- Hawthorn Woods
- Highland Park
- Highwood
- Hodgkins
- Indian Creek
- Knollwood
- La Grange Park
- Lake Barrington
- Lakemoor
- Lake Villa
- Lincolnshire
- Lombard
- Long Lake
- Maywood
- Melrose Park
- Mundelein
- Naperville
- Oak Brook
- Old Mill Creek
- Palatine
- Park City
- Port Barrington
- Rosemont
- Round Lake
- Schaumburg
- Schiller Park
- Volo
- Wauconda
- Westchester
- Willow Springs
Neighborhoods in Highland Park, IL
Ravinia Forest rent to own homes Highland Park Acres rent to own homes Northwood Manor rent to own homes Ridge Grove At Heller Woods rent to own homes Ravinia Highlands rent to own homes Highland Park rent to own homes Buena Woods rent to own homes Highland Park North rent to own homesPopular Zip Codes in Highland Park, IL
60035 rent to own homesBuying a Home in Highland Park, IL
Highland Park, IL is seeing rapid growth and Highland Park, IL's' housing market remains not optimal with an average home price that is 146% above the 2024 national average. Highland Park, 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 Highland Park, IL
Median Rent in Highland Park, IL
Top 6 Reasons to Live in Highland Park
Ravinia Festival! Ravinia is a summer-long outdoor music festival that takes place on Ravinia Park's grounds. The Chicago Symphony Orchestra has used it as its summer home sine 1936, and the park has hosted guests including James Taylor, the Moody Blues, Maroon 5 and Carrie Underwood. Ravinia Park has its own stop on the Metra line, making it convenient for suburban and city residents to access with ease.
Quick access to world-class city! Highland Park is a quick Metra train ride or drive to Chicago's cultural, dining and historical institutions. For residents who aren't interested in traveling to Chicago, there are shopping and dining options in downtown Highland Park, including the Olive Tap, Love that Spice and Uncle Dan's Great Outdoor Store.
Baller status! Former Bulls star Michael Jordan, quite possibly the greatest basketball player of all time, owned a 56,000 square foot home in Highland Park. The home was set behind large gates that displayed his iconic number jersey number 23. The home unsuccessfully went to auction in 2012 and 2013. Highland Park is a popular place for professional athletes to live, especially players on the Chicago Bears and the Chicago Bulls. Both the football and basketball teams have practice facilities in nearby Deerfield and Lake Forest.
Home to iconic films! Director and producer John Hughes, who is synonymous with 1980's movies, filmed many of his movies in Highland Park, including Sixteen Candles, Ferris Bueller's Day Off, Uncle Buck and Home Alone.
Rising home values! The median sales price is up 1.3 percent over last year, according to Trulia. Interested buyers have many options, whether it is choosing a rent to own home, a house for sale by owner or buying through a real estate broker.
Ideal for city transplants! Buyers who have outgrown their city home and are looking to establish roots in the suburbs can explore Highland Park's rental housing options. Wilmette's rental inventory includes homes close to area favorites, like including Bluegrass, Merlo's Italian Restaurant, Norton's Restaurant and Abigail's American Bistro.