Rent to own Homes in McHenry, IL
McHenry is situated in its namesake county, just over 50 miles northwest of Chicago and slightly shy of the Wisconsin border. Its position makes McHenry ideal for people who want a small town pace with access to big city events, museums and art. With a population that hovers just under 30,000, McHenry is a place where people can get to know their neighbors. The community is also adjacent to several bodies of water, including the Fox River.
McHenry, IL is a great place for affordable rent-to-own homes! With a median household income of over $77,004 and a median rent of $1,328, the McHenry, 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 McHenry, 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 McHenry, IL Property Resources
Rent to own Homes in Cities Near McHenry, IL
- Antioch
- Bohners Lake
- Bristol
- Browns Lake
- Bull Valley
- Burlington
- Camp Lake
- Carpentersville
- Como
- Eagle Lake
- East Dundee
- Fontana-on-Geneva Lake
- Fox Lake
- Gages Lake
- Genoa City
- Grayslake
- Green Oaks
- Hainesville
- Harvard
- Hawthorn Woods
- Holiday Hills
- Indian Creek
- Knollwood
- Lake Barrington
- Lake Catherine
- Lake Geneva
- Lake in the Hills
- Lake Ivanhoe
- Lakemoor
- Lake Villa
- Lily Lake
- Lincolnshire
- Lyons
- McCullom Lake
- Paddock Lake
- Palatine
- Pell Lake
- Pingree Grove
- Port Barrington
- Powers Lake
- Richmond
- Rochester
- Round Lake
- Salem Lakes
- Solon Mills
- Springfield
- Trevor
- Twin Lakes
- Volo
- Wilmot
Neighborhoods in McHenry, IL
Venice Park rent to own homes Kelter Estate rent to own homes Woodcreek rent to own homes Westshore Beach rent to own homes Shamrock Farms rent to own homes Mchenry Country Club rent to own homes West Mchenry rent to own homes Sunnyside rent to own homes Lakeland Shores rent to own homes Main Waukegan rent to own homesPopular Zip Codes in McHenry, IL
60050 rent to own homesBuying a Home in McHenry, IL
McHenry, IL is seeing rapid growth and McHenry, IL's' housing market remains optimal with an average home price that is -10% below the 2024 national average. McHenry, 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 McHenry, IL
Median Rent in McHenry, IL
Top 5 Reasons to Live in McHenry, IL
Plenty of recently built homes! Between 2001 and 2004, more than 1,200 new residential building permits were issued in McHenry, and new properties continued to crop up around the city. For potential residents, this means a bounty of homes built within the last decade, replete with modern fixtures and new plumbing. New properties along Fox River and Pistakee Lake offer especially appealing locations to call home.
Fido is welcome! McHenry is an extremely pet friendly community. Many pet owners take their beloved pooches to the McBark Dog Park, which is just north of the Kohl's department store parking lot. Both small and large dogs are welcome here, where they and their owners can lounge in shaded areas or run around in the four acres provided by the city.
Community events abound! McHenry is a town that likes to get everyone involved. The city hosts a variety of events throughout the year, including the 30th Annual Christmas Walk in downtown McHenry along Green Street and Riverside Drive and the Turkey Trot for Hospice.
Perfect for autumn lovers! People who are heartened at the thought of changing seasons will especially delight in living in McHenry. The leaves change color at Miller Riverfront Park, a cold chill is in the air, and local farms offer many opportunities to enjoy fall activities. Pick apples at one of the local orchards, pick up a pumpkin from a local grower, or visit the nearby Woodstock Farmers' Market, which was voted the best of its kind in Illinois.
Get more floor space for your buck! The average cost per foot for real estate in McHenry in November 2014 is $96, which falls below the state average of $121 for rent to own homes and traditional sales. Even homes conveniently located near Route 31 and Route 120 enjoy costs per square foot lower than elsewhere in Illinois.