Rent to own Homes in Palos Hills, IL
Incorporated in 1958, Palos Hills is located in Cook County and is actually a suburb of the large city of Chicago. While many people avoid living near such big cities due to crime rates, the residents of Palos Hills hold the secret that their city's crime rate is much lower than the national average. This type of safety, combined with an accessible big city, is likely why so many people call it home home.
Palos Hills, IL is a great place for affordable rent-to-own homes! With a median household income of over $64,364 and a median rent of $1,073, the Palos Hills, 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 Palos Hills, 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 Palos Hills, IL Property Resources
Rent to own Homes in Cities Near Palos Hills, 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 Palos Hills, IL
Palos Hills rent to own homesPopular Zip Codes in Palos Hills, IL
60465 rent to own homesBuying a Home in Palos Hills, IL
Palos Hills, IL is seeing rapid growth and Palos Hills, IL's' housing market remains optimal with an average home price that is -5% below the 2024 national average. Palos Hills, 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 Palos Hills, IL
Median Rent in Palos Hills, IL
Top 4 Reasons to Live in Palos Hills, IL
Rising home values! The housing market took a huge hit in America and few places felt the hit as much as Palos Hills. Even with that being the case, though, the market is on the rebound. Over the past year, in fact, home valuations in the area have risen nearly eight percent. This is in comparison to America's average of only about five percent. This means whether you purchase a home near Calumet Sag Channel or are more interested in the rent to own houses near Hickory Hill Golf Club, you'll be making a great investment in a home at a historic low price that's now increasing in value.
Have a fun night out! Palos Hills has everything you need to have a great night out on the town. You can start off with some of the best Italian you'll ever taste by getting a table at Bertucci's. After filling up on your favorite dish, head on over to the Chicago Ridge 6 and catch that movie you've been dying to see.
High housing ownership rate! A surefire way to decide whether residents love where they live or not, even before visiting a town, is to look at its home ownership rate. After all, who would commit to buying a house in an area they didn't like? In Palos Hills, an astounding 76 percent of all homes are inhabited by those who own them. This makes for an incredibly low vacancy rate, and anyone living along Highway 12 or adjacent to the Cranberry Slough Nature Preserve can attest to the fact that this is a great thing.
Great places to shop! For those who enjoy shopping, or even simply having a place where they can get anything they need, Palos Hills is a great place to call home. While waiting for a movie to start at the theater, most people walk around the Chicago Ridge Mall to pass the time. For those who want to get a more eclectic shopping selection, it's simple to make the quick trip down West 111th Street to take in all the amazing offerings at Swap-O-Rama.