Rent to own Homes in Lombard, IL
Close to the city, smaller town feel. The village of Lombard is in the western suburbs of Chicago, close to transportation corridors like I-355 and I-88, yet far enough out to retain some small town feel. Rapid transit, including rail, connects residents to the greater Chicago area.
Lombard, IL is a great place for affordable rent-to-own homes! With a median household income of over $86,167 and a median rent of $1,482, the Lombard, 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 Lombard, 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 Lombard, IL Property Resources
Rent to own Homes in Cities Near Lombard, IL
- Alsip
- Arlington Heights
- Batavia
- Bedford Park
- Bellwood
- Berkeley
- Bridgeview
- Broadview
- Burbank
- Carol Stream
- Carpentersville
- Downers Grove
- East Dundee
- Elmhurst
- Fairmont
- Forest Park
- Glendale Heights
- Glen Ellyn
- Glenview
- Golf
- Hanover Park
- Hawthorn Woods
- Hodgkins
- Hometown
- La Grange Park
- Lake Barrington
- Lincolnshire
- Lockport
- Lombard
- Maywood
- Melrose Park
- Merrionette Park
- Midlothian
- Mokena
- Naperville
- Norridge
- Oak Brook
- Oak Forest
- Palatine
- Palos Heights
- Plainfield
- Ridgewood
- Rockdale
- Rosemont
- Schaumburg
- Schiller Park
- South Elgin
- Westchester
- Willow Springs
- Wilmette
Popular Zip Codes in Lombard, IL
60148 rent to own homesBuying a Home in Lombard, IL
Lombard, IL is seeing rapid growth and Lombard, IL's' housing market remains not optimal with an average home price that is 22% above the 2024 national average. Lombard, IL is part of DuPage 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 DuPage is 1.71% which is above the national average, which is 0.99%.
Median Home Price in Lombard, IL
Median Rent in Lombard, IL
Top 9 Reasons to Live in Lombard, Illinois
Lots of parks. Lombard has a nice selection of city parks for residents to enjoy. Check out The Commons or Westmore Woods. or take in the beautiful and highly rated Lilacia Park, with its lovely lilac trees and gardens.
Solid real estate market. The median sale price for a Lombard home was $200,000 in March of 2014, up an impressive 14.3% from a year prior. Rent to own houses are a way to get in without a lot of upfront costs. Search in the South Fairfield neighborhood to be near the core or try Highland Hills to get close to the freeway.
Preserving nature. There are nice areas of green space in and around Lombard. Take a stroll through one of them and see how the village is working to keep nature in good standing. The Churchill Prairie Nature Preserve on the east side of town is a great place to start. Take a look at Hidden Lake County Forest Preserve on the southeast side as well.
Variety of rental choices. From high-rise apartment complexes like Yorktown Apartments or City View at the Highlands to condos and single-unit homes, Lombard has a lot of options. Search for rent to own opportunities as well. The median rent value right now is $1,089.
History on display. The Lombard Park Historical Museum features exhibits about the early history of the area. The Sheldon Park Homestead is an example of early settlement that has been preserved. Another home with an interesting past is the Dr. William LeRoy House, also dubbed the Little Orphan Annie House, because it once was home to the studio of Harold Gray, who was the originator of the Annie cartoon strip.
Shopping galore. Yorktown Center is a mall with all that you would expect, while Lombard Town Centre is a destination with a more upscale shopping feel.
Houses moving quickly. The average listing time for a home for sale in Lombard is almost half what it was just a year ago. As of the spring of 2014, homes spent around 45 days on the market before being sold. Rent to own homes should continue to be something worth looking into. Lovely homes along tree lined streets can be found in places near Terrace View Park or Sunset Knolls.
Great restaurants. Try LaFrance Cafe for some fine crepes or sample the fare at the Capital Grille when you want a great steak.