Rent to own Homes in Shorewood, IL
Just 39 minutes south of Chicago lies the village of Shorewood, sitting within the confines of the township of Troy. Once a farming and fishing community, the land that the village sits on today was purchased in 1926 by Albert H. Bruning, who marketed the area along the DuPage River as a summer getaway for Chicago residents eager to escape the city heat. The town was incorporated in 1957 and today is home to over 15,000 residents.
Shorewood, IL is a great place for affordable rent-to-own homes! With a median household income of over $106,341 and a median rent of $1,763, the Shorewood, 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 Shorewood, 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 Shorewood, IL Property Resources
Rent to own Homes in Cities Near Shorewood, IL
- Aurora
- Batavia
- Bolingbrook
- Bonnie Brae
- Boulder Hill
- Burr Ridge
- Carol Stream
- Channahon
- Crest Hill
- Crystal Lawns
- Darien
- Downers Grove
- East Dundee
- Elmhurst
- Elwood
- Fairmont
- Glendale Heights
- Glen Ellyn
- Hanover Park
- Hinsdale
- Ingalls Park
- Joliet
- Kaneville
- Lily Lake
- Lisle
- Lockport
- Lombard
- Medinah
- Millbrook
- Naperville
- Newark
- New Lenox
- Oak Brook
- Palos Park
- Plainfield
- Prestbury
- Preston Heights
- Ridgewood
- Rockdale
- Romeoville
- Schaumburg
- Shorewood
- South Elgin
- Westmont
- Wheaton
- Willow Springs
- Winfield
- Wood Dale
- Woodridge
- Yorkville
Neighborhoods in Shorewood, IL
Kipling Estates rent to own homesPopular Zip Codes in Shorewood, IL
60404 rent to own homesBuying a Home in Shorewood, IL
Shorewood, IL is seeing rapid growth and Shorewood, IL's' housing market remains not optimal with an average home price that is 23% above the 2024 national average. Shorewood, 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 Shorewood, IL
Median Rent in Shorewood, IL
Six Reasons to Live in Shorewood, IL
Home appreciation is on the rise! Home prices in Shorewood have risen almost 8 percent over the last year, meaning that it's a great time to invest in a rent to own property. You'll find the most reasonable prices in the West Jefferson Street neighborhood near County West Park, where a medium to large home will cost around $209,000. This area is also home to the famed Skooter's Roadhouse.
Have fun in the park! You won't have to go far for a dose of fun in Shorewood. Residents of this village can take advantage of over 140 acres of green space devoted to recreation. There are plenty of trails for jogging, bicycling or hiking. You can enjoy the disc golf course and tennis courts at Shorewood Park or even launch your kayak from one of the many access points on the DuPage River. In the summer, be sure to visit the splash park at West Shore Park.
Proximity to Chicago! Because the Windy City is just forty minutes away, many residents commute to Chicago for work or visit for fun. Enjoy watching the beluga whales at the world-famous Shedd Aquarium, the largest indoor aquarium in the world. Be sure to visit the renowned Rock N Roll McDonald's establishment in the River North section of the city afterwards.
High rate of owner occupation! Shorewood boasts an owner occupation rate of over 88 percent, which is much higher than the national average. This high rate indicates a stable population, so it's no wonder there are few vacancies here. Look in the West Jefferson neighborhood for the highest vacancies, or the Frontage Road/Shepley Road area, where you'll also find the Will County Humane Society and Haley Air Field.
Take advantage of public transportation! If you don't have a car, you can always take the bus. Shorewood has access to the Plainfield-East Loop Express off Highway 126. If you'd rather go by car, check out RelayRides off of Van Dyke Road.
Peace and good food! If you're looking for the perfect community with lower than average crime rates, look no further. When you're hungry, be sure to enjoy local culinary favorites such as Portillo's for hot dogs and Italian beef sandwiches, and Smile of SIAM for terrific Thai food.