Rent to own Homes in Sterling, IL
Sterling is located in Whiteside County and has a population of just over 15,000 residents. Once nicknamed the Hardware Capital of the World, Sterling continues to be a hub for the manufacturing and steel industry in the United States. Today, Sterling is known for having a thriving downtown that has been revitalized in recent years to feature more locally owned small businesses. Home to nearly twenty parks, Sterling is a haven for anyone who enjoys being outdoors.
Sterling, IL is a great place for affordable rent-to-own homes! With a median household income of over $46,491 and a median rent of $698, the Sterling, 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 Sterling, 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 Sterling, IL Property Resources
Rent to own Homes in Cities Near Sterling, IL
Neighborhoods in Sterling, IL
No neighborhoods foundPopular Zip Codes in Sterling, IL
No zip codes foundBuying a Home in Sterling, IL
Sterling, IL is seeing rapid growth and Sterling, IL's' housing market remains optimal with an average home price that is -59% below the 2024 national average. Sterling, IL is part of Whiteside 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 Whiteside is 2.03% which is above the national average, which is 0.99%.
Median Home Price in Sterling, IL
Median Rent in Sterling, IL
Top 5 Reasons to Live in Sterling, IL
More Parks than You Can Count! If you love the outdoors, particularly hiking and playing sports, then Sterling is likely to be the ideal city for you. Not only is the city home to six parks, but also the district as a whole has more than 15 parks. For jogging and walking, head to Eberly Park that resides on 25 acres of wooded land and includes a track for running. For sports, head to Kilgour Park that features two playgrounds, three basketball courts and four lighted tennis courts.
Great Local Events: Held the last Friday of every month, the Fourth Fridays Festival is a collaboration between downtown business owners and the local arts community. From 6 p.m. to 8 p.m., the Main Street comes alive with business owners that play host to everyone from artists to musicians to jewelry makers. Starting in 2012, Sterling has been hosting Movies at Grandon that occur every Thursday night at the Grandon Amphitheater in the Central Memorial Park.
Delicious Downtown Restaurants! For pizza that is made fresh to order, head straight for Al & Leda's Pizza Villa on East 4th Street. Rated as the best pizza in the city, their Hawaiian pie receives high marks from local residents. End any meal with a sweet treat from one of the numerous bakeries in the city like Aurelio's Bake Shop.
Price Cuts Make Homes Affordable! In Sterling, 29.4 percent of homes for sale have had a price cut and 19 percent have sold below their final list price. As a result, buyers have room to negotiate with motivated sellers in a neighborhood like Coleta or Freeport Road.
Plenty of Inventory! Currently, there are more than 150 homes for sale in Sterling giving newcomers to the city plenty of choices when looking to buy a property. Whether you are looking for a rent to own home or a single family property the neighborhoods of West Lincolnway and City Center offer desirable options at an affordable price.