Rent to own Homes in Midlothian, IL
Midlothian, Illinois, was first settled in the early 1900s by a group of Chicago residents. These residents petitioned the Rock Island Railroad to build a spur into the city to provide access to the Midlothian Country Club. The quiet village quickly grew, and it was officially incorporated in 1927. Today,14,819 residents live in the 2.82 square mile village. Many of these residents commute thirty minutes to Chicago for work.
Midlothian, IL is a great place for affordable rent-to-own homes! With a median household income of over $61,067 and a median rent of $1,107, the Midlothian, 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 Midlothian, 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 Midlothian, IL Property Resources
Rent to own Homes in Cities Near Midlothian, IL
- Alsip
- Bedford Park
- Berkeley
- Bridgeview
- Broadview
- Brookfield
- Burbank
- Burnham
- Burr Ridge
- Calumet Park
- Chicago Heights
- Cicero
- Clarendon Hills
- Countryside
- Crestwood
- Downers Grove
- Elmhurst
- Flossmoor
- Forest Park
- Forest View
- Frankfort
- Frankfort Square
- Harwood Heights
- Hodgkins
- Hometown
- Homewood
- La Grange Park
- Lincolnwood
- Lockport
- Markham
- Maywood
- Melrose Park
- Merrionette Park
- Midlothian
- Mokena
- Morton Grove
- North Riverside
- Oak Brook
- Oak Forest
- Palos Heights
- Palos Park
- Park Forest
- Park Ridge
- River Forest
- Rosemont
- Schiller Park
- Steger
- Thornton
- Westchester
- Willow Springs
Neighborhoods in Midlothian, IL
Midlothian rent to own homesPopular Zip Codes in Midlothian, IL
60445 rent to own homesBuying a Home in Midlothian, IL
Midlothian, IL is seeing rapid growth and Midlothian, IL's' housing market remains optimal with an average home price that is -29% below the 2024 national average. Midlothian, IL is part of Cook 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 Cook is 1.38% which is above the national average, which is 0.99%.
Median Home Price in Midlothian, IL
Median Rent in Midlothian, IL
Top 6 Reasons to Live in Midlothian, Illinois
Parks and public facilities! Midlothian has more than 59 acres of parks throughout the city. The Midlothian Meadows Forest Preserve stretches from 152nd to 159th street and has a biking and hiking trail that connects to other parks in the area. The Don Preston Recreation Center has meeting rooms and a gymnasium that seats up to 250 people.
Appreciating home values! Homeowners in Midlothian can enjoy the rapidly rising values of their real estate. Since 1990, the average property value has increased by more than 91 percent. Between November 2013 and November 2014, values increased by more than 8 percent. Popular neighborhoods like Village Center, Hamlin Avenue and Central Avenue have all experienced these rising property values.
Beautiful outdoor parks! Midlothian residents have access to beautiful natural areas, including the Sundrop Prairie Nature Preserve, which contains 91.2 acres of protected land. The natural area is one of the last remnants of a prairie that once stretched along the shores of Lake Michigan. In the park, you'll find the Dropseed Prairie Nature Preserve, the Paintbrush Prairie Nature Preserve and the Gensburg-Markham Prairie Nature Preserve.
Great dining options for every craving! Midlothian is home to an eclectic variety of cuisines that will suit any taste. For the best meatballs around, try Bartolini Restaurant. If you're looking for Chinese, you can head to En Lai Chinese Restaurant or Gum Wah Restaurant. At La Dolce Bakery II, you can try delicious fresh desserts and other comfort food.
Enjoy a long bike ride! If you enjoy going for long bike rides on the weekend, Midlothian is the place for you. The city's bike loop connects several parks with the downtown shopping district. The loop starts at Bremen Heights Park, stops at the Midlothian Metro Station and continues to Sundrop Prairie Nature Preserve.
High rates of home ownership! As of 2014, there were 5,386 housing units in Midlothian. The market has plenty of rent to own homes, and nearly 20 percent of all properties were occupied by tenants. The ownership rate is just over 80 percent, and less that five percent of all homes are vacant. You'll find lots of homes for sale in the Midlothian Meadows neighborhood and the area around the Midlothian Country Club.