Rent to own Homes in Mattoon, IL
Mattoon is located in Coles County, Illinois and had a population of 18,555 in 2010. The city was nicknamed the Bagel Capital of the World because it is home to the world's largest bagel and holds the distribution facility for Lender's Bagels. Mattoon hosts an annual three-day festival that honors the city's significance in the bagel industry with nationally recognized musicians, carnival rides for kids and dancing for adults.
Mattoon, IL is a great place for affordable rent-to-own homes! With a median household income of over $40,576 and a median rent of $627, the Mattoon, 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 Mattoon, 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.
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61938 rent to own homesBuying a Home in Mattoon, IL
Mattoon, IL is seeing rapid growth and Mattoon, IL's' housing market remains optimal with an average home price that is -61% below the 2024 national average. Mattoon, IL is part of Coles 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 Coles is 1.96% which is above the national average, which is 0.99%.
Median Home Price in Mattoon, IL
Median Rent in Mattoon, IL
Top 5 Reasons to Live in Mattoon, IL
Seasonal family fun! When the weather turns chilly, there are still plenty of things to do outdoors. Visit one of the numerous local pumpkin patches, like The Great Pumpkin Patch open from late September through Halloween. Apple picking is also a fun winter family activity, there are plenty of choice orchard in the area. Okaw Valley Orchard features several delicious varieties of apple, as well as a picturesque picnic area and playground for the kids.
Numerous Festivals: Held in July, the Big Bagel Breakfast draws thousands of spectators, as professional food eaters and local residents scarf down as many bagels as they can in five minutes. Mattoon also knows how to celebrate the holidays. Get in the spirit with Matton Lightworks, a yearly festival of lights in Peterson Park.
Great Outdoor Activities! Instead of trying to find a lost golf ball in thick brush or in a deep sand trap, visitors to the Meadowview Golf Course must search among the numerous cornstalks. The 18-hole course has been rated one of the best in Illinois and routinely challenges even the most experienced of golfers. Stop by the Mattoon Parks and Recreation Department to learn about youth and adult sports leagues for basketball, baseball, ultimate frisbee and even cricket.
Wide open housing opportunities! Because banks never want to sit on a property for too long in hopes of recouping their money, the real estate market in Mattoon is a home buyer's best friend. Make an aggressive offer on a foreclosed home to secure a deal that is below market value. The best homes can be had in areas like Loxa and Lerna.
Affordable Homes! In many places of the United States, $82,555 would only buy you half a house, but in Mattoon, this is the median price of homes for sale in the city. Capitalize on the numerous rent to own homes available by looking in neighborhoods like Marshall Ave and Lakeland Blvd.