Rent to own Homes in Park Ridge, IL
Park Ridge, Illinois, is a thriving suburb of Chicago. Home to nearly 40,000 people, the community is near Chicago O'Hare Airport and many top employers like the Advocate Lutheran General Hospital and the Park Ridge-Niles School District. Originally settled on a literal ridge, Park Ridge is full of high-quality clay deposits that have shaped its economic history. In fact, due to the local brickyards found here, Park Ridge was once named Pennyville, to honor the man who owned the resources. Later, the community was renamed Brickton.
Park Ridge, IL is a great place for affordable rent-to-own homes! With a median household income of over $113,809 and a median rent of $1,360, the Park Ridge, 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 Park Ridge, 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 Park Ridge, IL Property Resources
Rent to own Homes in Cities Near Park Ridge, IL
- Addison
- Bannockburn
- Barrington
- Barrington Hills
- Bensenville
- Brookfield
- Burr Ridge
- Calumet Park
- Cicero
- Clarendon Hills
- Countryside
- Crestwood
- Deer Park
- Des Plaines
- Elk Grove Village
- Evanston
- Forest Lake
- Forest View
- Glencoe
- Golf
- Green Oaks
- Harwood Heights
- Hawthorn Woods
- Highland Park
- Highwood
- Indian Creek
- Indian Head Park
- Kildeer
- Knollwood
- Libertyville
- Lincolnshire
- Lincolnwood
- Mettawa
- Morton Grove
- Niles
- North Barrington
- Northbrook
- North Riverside
- Oakbrook Terrace
- Palatine
- Palos Park
- Park Ridge
- River Forest
- Riverwoods
- Streamwood
- West Chicago
- Western Springs
- Wheeling
- Woodridge
- Worth
Neighborhoods in Park Ridge, IL
No neighborhoods foundPopular Zip Codes in Park Ridge, IL
60068 rent to own homesBuying a Home in Park Ridge, IL
Park Ridge, IL is seeing rapid growth and Park Ridge, IL's' housing market remains not optimal with an average home price that is 107% above the 2024 national average. Park Ridge, 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 Park Ridge, IL
Median Rent in Park Ridge, IL
Top 3 Reasons to Live in Park Ridge, Illinois
It's an artistic haven! For 100 years, Park Ridge has attracted artistic people from all over the country. Clara Pauline Bark founded the Kalo Arts Crafts Community here in the early 20th century, and the center still pulls in the artistically minded today. Often called the Art Colony, it's a warm and inviting community that helps young and established artists learn and expand on their crafts.
Now is the best time to invest! Buying a home now means benefiting from a median sales price of $387,500. Homes in Park Ridge are quite spacious and beautiful. Properties for all tastes can be found here, from old red-brick apartment buildings along Fairview Avenue, to the tree-lined lanes of Knight Avenue. Demand for housing in this part of Cook County is always relatively high, but there are many property listings in all price ranges available to the potential home buyer. Once you've found the perfect home, all you need to do is sit back and watch your investment grow. If you want to upgrade to a larger home, or one that's located on a more isolated and spacious lot, you can rest easy knowing that your home listing will attract a great deal of attention.
Home sales are steady! Home sales have proven very resilient in Park Ridge. The steady market keeps prices in check while also ensuring that a future property sale will be successful. Homes on Garden Street and Park Lane are particularly attractive, so you may want to begin your search there. Whether you prefer to invest in an apartment, a duplex or a stand-alone home - or even if you're looking for a rent to own property - there are plenty of choices available to you. The steady housing market ensures that you may take your time when making a decision, which will allow you to find the perfect property.