Rent to own Homes in Oak Park, IL
Revel in Frank Lloyd Wright Architecture! The town boasts the Frank Lloyd Wright Home and Studio as well as Unity Temple, take a self-guided walking tour and study the sharp, sleek lines of the living and worship quarters.
Oak Park, IL is a great place for affordable rent-to-own homes! With a median household income of over $96,945 and a median rent of $1,213, the Oak Park, 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 Oak Park, 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 Oak Park, IL Property Resources
Rent to own Homes in Cities Near Oak Park, IL
- Alsip
- Bannockburn
- Bedford Park
- Berkeley
- Bridgeview
- Broadview
- Burbank
- Burnham
- Chicago Heights
- Downers Grove
- Elmhurst
- Evanston
- Forest Park
- Frankfort
- Frankfort Square
- Glendale Heights
- Glen Ellyn
- Glenview
- Golf
- Hanover Park
- Highland Park
- Highwood
- Hodgkins
- Hometown
- Indian Head Park
- La Grange Park
- Lincolnshire
- Lockport
- Lombard
- Markham
- Marley
- Maywood
- Melrose Park
- Merrionette Park
- Midlothian
- Mokena
- Naperville
- Niles
- Oak Brook
- Oakbrook Terrace
- Oak Forest
- Palatine
- Palos Heights
- Rosemont
- Schaumburg
- Schiller Park
- Thornton
- Westchester
- Willow Springs
- Wilmette
Neighborhoods in Oak Park, IL
No neighborhoods foundPopular Zip Codes in Oak Park, IL
60303 rent to own homes 60302 rent to own homes 60301 rent to own homes 60304 rent to own homesBuying a Home in Oak Park, IL
Oak Park, IL is seeing rapid growth and Oak Park, IL's' housing market remains not optimal with an average home price that is 85% above the 2024 national average. Oak Park, 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 Oak Park, IL
Median Rent in Oak Park, IL
11 Top Reasons to Live in Oak Park, IL
Cure your writer's block! While discovering the neighborhood stop by renowned author Earnest Hemingway's birthplace. This entrancing home on a typical city corner bears a mere plaque to commemorate its history. Tours guide you through his life and times before he became a notable wordsmith. For more history and lore head to the Hemingway Museum up the road and discover the path his life took after he left town.
Empty your wallet on local wares and foodstuffs! At Gem, find artisan- crafted jewelry that shines. Close by, the Marion Street Cheese Market serves up delectable dairy as well as take-home wines, marinades, and goodies from local producers.
Take a break in the shade! At Austin Gardens, the grounds are rich with greenery and sculpture. The perfect place to relax with a bite and a friend or a book on your own. At The Oak Park Conservatory see the amazing assortment of flowerbeds that eventually go into the ground at parks and verandas around town.
Enjoy a night out on the town! Local dining options about and nearby haunts like Gaetano's, which serves delectable Italian cuisine and House Red Vinoteca which boasts a superb wine list paired delicately with new American fare are the latest to woo the residents.
Something old becomes new! Escape to the Lake Theater for a bit of nostalgia served with some warm, buttery popcorn. Beforehand, browse the antiquated items at Divine Consign and claim some expertly picked vintage home items.
International Eats! If you're craving a taste of something more than steak and potatoes delve into the grub at Rebozo, an authentic Mexican restaurant where the mole has made a name for itself. For a taste of Venezuela meet your peers at Aripo's Arepa House for the tried and true Arepa made proper.
Vacancies abound! In Village Center, near South and Austin Boulevards, those seeking rent to own homes should have plenty to choose from as the area has a 16.2% vacancy rate. The community near Washington Boulevard and South Oak Park Avenue is another option with a 12% vacancy rate.
High Home Values! Oak Park
houses for rent can really be worth their weight in gold. When looking for a home with a high property value seek out North Oak Park Avenue near Division Street where median values are $596,832. Another great area surrounds North and Harlem Avenues, median prices there reach $548,460.
Low Rental Prices! Rent to own properties that afford the best bargains reside close to Iowa and Austin Boulevards where average monthly rent is $941. Another option for renters is near North and Harlem Avenues where residents pay roughly $ 943 per month.
Live close to the action! If you're settling in on the idea of being able to walk to the train and area attractions look for rent to own or rental houses near Lake and North Oak Park Avenue or a bit further from the tracks, near Clinton Avenue and Randolph Street. You can make friends here, too, since the annual residential turnover rate is about 19%.