Rent to own Homes in Lake in the Hills, IL
Founded in 1923 as a vacation spot for Chicago residents, Lake in the Hills turned into a residential lake community in the 1950s. The 1990s saw a residential boom that brought developers, shopping centers and a myriad of facilities into the area. Known today for its shopping, parks and community lifestyle, Lake in the Hills retains its rustic charm and is a great place to live.
Lake in the Hills, IL is a great place for affordable rent-to-own homes! With a median household income of over $96,470 and a median rent of $1,487, the Lake in the Hills, 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 Lake in the Hills, 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 Lake in the Hills, IL Property Resources
Rent to own Homes in Cities Near Lake in the Hills, IL
- Addison
- Barrington
- Barrington Hills
- Batavia
- Bull Valley
- Burlington
- Burtons Bridge
- Campton Hills
- Carpentersville
- Cary
- Deer Park
- DeKalb
- East Dundee
- Elgin
- Elk Grove Village
- Forest Lake
- Fox Lake
- Fox River Grove
- Genoa
- Glendale Heights
- Glen Ellyn
- Hampshire
- Hanover Park
- Hawthorn Woods
- Holiday Hills
- Kaneville
- Kildeer
- Lake Barrington
- Lake in the Hills
- Lakemoor
- Lily Lake
- McCullom Lake
- McHenry
- Mundelein
- Naperville
- North Barrington
- Palatine
- Pingree Grove
- Pistakee Highlands
- Port Barrington
- Prestbury
- Richmond
- Round Lake
- Schaumburg
- South Elgin
- Sycamore
- Volo
- Wauconda
- Wonder Lake
- Woodstock
Neighborhoods in Lake in the Hills, IL
Spring Lake Farms rent to own homes Lake In The Hills Estates rent to own homes Meadowbrook rent to own homes Wood Creek Village rent to own homes Big Sky rent to own homes Boulder Ridge Country Club Estates rent to own homes Northstar rent to own homesPopular Zip Codes in Lake in the Hills, IL
60156 rent to own homesBuying a Home in Lake in the Hills, IL
Lake in the Hills, IL is seeing rapid growth and Lake in the Hills, IL's' housing market remains not optimal with an average home price that is 9% above the 2024 national average. Lake in the Hills, IL is part of McHenry 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 McHenry is 2.09% which is above the national average, which is 0.99%.
Median Home Price in Lake in the Hills, IL
Median Rent in Lake in the Hills, IL
Top 6 Reasons to Live in Lake in the Hills, IL
The great outdoors! As its name implies, Lake in the Hills is a village nestled in nature and full of recreational parks, lakes and prairies. It is home to over 12 different parks with a variety of functions and facilities. Head over to Sunset Park to play baseball, softball or soccer or take a stroll around Bark Park with your furry friend. Check out Woods Creek Lake and relax on the beach, enjoy the historic homes or take a boat out onto the water.
High ownership rates! With over 86% of homeowners staying in their houses for over a year, people are moving in to stay. Popular areas to buy homes right now are Crystal Gardens, Ackman Road, Wakefield Lane, and Village Center.
Shopping galore! The village is near one of the best shopping areas in the Chicago metropolitan area, the Randall Road corridor. From Bellchase Commons to Randall Plaza, you can find almost anything you are looking for in Lake in the Hills village.
Activities! Covered in small town appeal, Lake in the Hills is full of community activities for everyone to enjoy. The village's main event is the Summer Sunset Festival which has live music, a carnival, fireworks and delicious food. If you can't make it to the Festival, you can catch the Lake in the Hills Air Expo in June or the Rockin' Rotary Ribfest in early July.
Rising appreciation rates! Houses in Lake in the Hills have seen an appreciation rate of 7.2% in the past year and over 10% in the past two years. This is great news for those looking to buy outright or rent to own. The neighborhoods of Bunker Hill Drive and Crystal Gardens have seen the highest appreciation rates.
Good eats! Head over to Noodles & Company for some Asian cuisine or Steak 'n Shake for a good old-fashioned burger. Whatever you are in the mood for, the Village has a restaurant to suit your hunger pains.