Rent to own Homes in Rockford, IL
The community of Rockford, Illinois, is affectionately called "a city of gardens and rivers." Rockford got its name in the 1800s from settlers who combined the name of Rock River with the natural ford used to commute across the river's divide. Rockford is in the county of Winnebago and is the state's third largest city, home to a population of 153,000. The community has a rich cultural, industrial and educational history. Rockford is home to Rockford University and the University Of Illinois College Of Medicine. In recent years, the city has become an important healthcare, entertainment, sports and financial center.
Rockford, IL is a great place for affordable rent-to-own homes! With a median household income of over $44,771 and a median rent of $784, the Rockford, 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 Rockford, 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 Rockford, IL Property Resources
Rent to own Homes in Cities Near Rockford, IL
- Allens Grove
- Argyle
- Avalon
- Beloit
- Belvidere
- Brodhead
- Caledonia
- Candlewick Lake
- Capron
- Chemung
- Cherry Valley
- Clinton
- Darien
- Davis Junction
- Durand
- Edgerton
- Evansville
- Footville
- Fulton
- Hanover
- Janesville
- Lake Koshkonong
- Lake Lorraine
- Lake Summerset
- Loves Park
- Machesney Park
- Milton
- New Milford
- Orfordville
- Poplar Grove
- Rockford
- Rockton
- Roscoe
- Sharon
- Shopiere
- South Beloit
- Timberlane
- Westlake Village
- Winnebago
Neighborhoods in Rockford, IL
Downtown Rockford rent to own homes Highland rent to own homes Sinnissippi Park rent to own homes North End Square rent to own homes Coronado Haskell rent to own homes Roosevelt rent to own homes Rolling Green rent to own homes Fairgrounds rent to own homes Signal Hill rent to own homes Ellis Heights rent to own homesPopular Zip Codes in Rockford, IL
61110 rent to own homes 61125 rent to own homes 61108 rent to own homes 61107 rent to own homes 61104 rent to own homes 61114 rent to own homesBuying a Home in Rockford, IL
Rockford, IL is seeing rapid growth and Rockford, IL's' housing market remains optimal with an average home price that is -56% below the 2024 national average. Rockford, IL is part of Winnebago 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 Winnebago is 2.39% which is above the national average, which is 0.99%.
Median Home Price in Rockford, IL
Median Rent in Rockford, IL
Top Reasons to Live in Rockford IL
Housing Statistics The median sales price of a home in Rockford is $80,750, based on 248 home sales in 2013 as of July. This price is much lower than the average home across the state, which runs closer to $192,000. The 2013 average home sale price listed in Rockford is $100,444 as of August. House value has grown over the last few years, which is a positive signal of confidence inching back into the home market, prompting buyers to take the plunge. House prices remain more affordable in Rockford than neighboring towns and cities. The percentage of homes owned is currently at 55%, which makes rent to own homes a concept more consumers are willing to explore. The percentage of homes rented is at 41.8% and homes vacant at approximately 3.2%. There are currently 1,441 homes for sale, including brand-spanking new ones.
Transportation and Commutes Only one percent of the people of Rockford use public transportation to get to work. The rest of the community use their personal vehicles to get from point A to point B. For public transportation, Van Galder Amtrak buses traverse Chicago Union Station nine times a day. From there, commuters connect to Amtrak's national railway system to hundreds of destinations, including New York, Los Angeles and Carbondale. Highways are used to link to major cities like Chicago, Milwaukee, Madison and Dubuque. Interstate 90 runs northwest and links the Rockford region with Milwaukee at I-43, two miles north of the state line. You can be in downtown Chicago or Madison, Wisconsin in about an hour and a half.
Outdoor Activities Rockford life centers around the riverside. The river bank is where east meets west, bringing people together for events like the Fourth of July Festival, Music in the Park and jaunts on the Forest City Queen Excursion Boat. Residents have access to Sportscore One where various athletic competitions and recreational options unite the community. With over 10,000 acres of parks and forest reserves, residents and visitors have plenty of space to enjoy biking, hiking, rollerblading, swimming, picnicking, camping, horseback riding and golfing.
Neighborhoods Rockford has almost 50 distinct neighborhoods, each with its own culture and personality. Some of the most notable include: