Rent to own Homes in New Lenox, IL
A rapidly growing suburb located 36 miles southwest of Chicago, New Lenox provides both easy access to one of the greatest cities in the country along with a laid back, small-town atmosphere. With the new extension of Interstate 355 and easy Metro train access to the city, living in "The City of Proud Americans" is something that more and more people are doing.
New Lenox, IL is a great place for affordable rent-to-own homes! With a median household income of over $115,327 and a median rent of $1,163, the New Lenox, 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 New Lenox, 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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Rent to own Homes in Cities Near New Lenox, IL
- Alsip
- Batavia
- Bedford Park
- Berkeley
- Bridgeview
- Broadview
- Burbank
- Burr Ridge
- Calumet Park
- Chicago Heights
- Countryside
- Crest Hill
- Crestwood
- Crystal Lawns
- Downers Grove
- Elmhurst
- Fairmont
- Flossmoor
- Forest Park
- Frankfort
- Frankfort Square
- Glendale Heights
- Glen Ellyn
- Glenview
- Hanover Park
- Hodgkins
- Hometown
- Homewood
- La Grange Park
- Lockport
- Lombard
- Manhattan
- Markham
- Maywood
- Melrose Park
- Merrionette Park
- Midlothian
- Mokena
- Naperville
- Oak Brook
- Oak Forest
- Palos Heights
- Palos Park
- Park Forest
- Phoenix
- Plainfield
- Rosemont
- Tinley Park
- Woodridge
- Worth
Neighborhoods in New Lenox, IL
New Lenox rent to own homesPopular Zip Codes in New Lenox, IL
60451 rent to own homesBuying a Home in New Lenox, IL
New Lenox, IL is seeing rapid growth and New Lenox, IL's' housing market remains not optimal with an average home price that is 42% above the 2024 national average. New Lenox, IL is part of Will 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 Will is 2.05% which is above the national average, which is 0.99%.
Median Home Price in New Lenox, IL
Median Rent in New Lenox, IL
Top 4 Reasons to Live in New Lenox, Illinois
Great for outdoorsy types! Living in New Lenox is great for lovers of the great outdoors, as the village has 35 parks and athletic fields along with several walking and biking trails. You can enjoy the 21-mile Old Plank Road Trail, head over to the Hickory Creek State Nature Preserve and Schmuhl School Museum, or take your bike or horse along the Spring Creek Greenway Trail in the Hadley Valley Preserve. Enjoy Illinois nature while getting a workout at the same time!
New houses everywhere! The expansion of Interstate 355 has made New Lenox a popular town to move to, causing a sizable uptick in housing development. Nearly 3,500 construction permits for houses were granted from 1997-2012, providing a drastic increase in newer rent to own homes. Areas with many newer houses for sale include the West Illinois Highway/Gougar Road area just south of Interstate 80 and the Gilletts/Steele area near Highway 30, just south of the Sanctuary Golf Course.
A place for arts and fun! While Chicago is a short drive or a train ride away, there's plenty to do in New Lenox. The village is the home of the Performing Arts Pavilion, which is located in The Village Commons area and hosts major concerts, such as the Triple Play Series, along with plays, dance recitals, and summer movie nights. One can shop for food and arts and crafts at the New Lenox French Market, or head west in Joliet to take in a play or show at the Rialto Square Theatre.
Growing population! According to the Chicago Metropolitan Agency for Planning, New Lenox's population is projected to expand to over 90,000 by 2030. That means rising property and home values, so the time is now to move to New Lenox. Great areas to look for a home are the Lincolnwood Hills neighborhood in the eastern part of the city and the rapidly expanding southwest side off West Laraway Road right by Jackson Branch.