Rent to own Homes in Westmont, IL
Just 18 miles from downtown Chicago, Westmont is a small city with a population of about 25,000. Home to several major companies' headquarters like Ty, The Great American Bagel Bakery, and SIRVA, Westmont has a growing economy that attracts new businesses every year. Residents rave about the local government that hosts monthly coffee shop meetings to spur community involvement and the numerous parks that are located throughout the district.
Westmont, IL is a great place for affordable rent-to-own homes! With a median household income of over $69,902 and a median rent of $1,175, the Westmont, 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 Westmont, 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 Westmont, IL Property Resources
Rent to own Homes in Cities Near Westmont, IL
- Alsip
- Batavia
- Bedford Park
- Berkeley
- Bridgeview
- Broadview
- Burbank
- Downers Grove
- Elmhurst
- Fairmont
- Forest Park
- Frankfort
- Frankfort Square
- Glendale Heights
- Glen Ellyn
- Glenview
- Hanover Park
- Hillside
- Hodgkins
- Homer Glen
- Hometown
- Itasca
- La Grange Park
- Lockport
- Lombard
- Manhattan
- Markham
- Maywood
- Melrose Park
- Merrionette Park
- Midlothian
- Mokena
- Mooseheart
- Naperville
- Oak Brook
- Oak Forest
- Palatine
- Palos Heights
- Plainfield
- Ridgewood
- Rockdale
- Rosemont
- Schaumburg
- Schiller Park
- South Elgin
- Streamwood
- Warrenville
- Wayne
- Westchester
- Willow Springs
Neighborhoods in Westmont, IL
Highview Estates rent to own homes Sycamore Run rent to own homes Farmingdale Cove rent to own homes Ashford Of Westmont rent to own homesPopular Zip Codes in Westmont, IL
60559 rent to own homesBuying a Home in Westmont, IL
Westmont, IL is seeing rapid growth and Westmont, IL's' housing market remains not optimal with an average home price that is 45% above the 2024 national average. Westmont, IL is part of DuPage 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 DuPage is 1.71% which is above the national average, which is 0.99%.
Median Home Price in Westmont, IL
Median Rent in Westmont, IL
Top 6 Reasons to Live in Westmont
Thriving economy! Westmont is home to one of the fastest growing economies in Illinois. Top employers in the state include Manroland with 350 employees, SIRVA with 320, and AutoNation with 260.
Lots of community involvement! In an effort to promote transparency, Westmont hosts monthly Coffee with the Mayor meetings. Here, local residents are encouraged to join the mayor for complimentary coffee or tea and to discuss local issues. Join residents at the annual Winter Ball for an evening of dinner, dancing, and a silent auction to raise money for local charities.
Delicious Cuisine! Southern barbecue may not be a staple in the North, but at Uncle Bub's BBQ the tender baby back ribs may have you thinking otherwise. Finish off your sweet and tangy meal with a homemade ice-cream cone from Tasty Treat on South Cass Avenue.
Steady Home Values! The median home value in Westmont has seen steady growth in the last five years. Having grown 1.1 percent in the last year to $243,300, Zillow predicts that home values will remain constant. Secure a deal on a rent to own home with room to grow in value in an area like Roslyn Road or Ridge Road.
Price cuts galore! Half of the homes in Westmont had their prices reduced and almost a third have sold below their list price. With the median sales price at $246,500, buyers are able to negotiate great deals on homes in areas like the Village Center and East 63rd Street.
Outdoor recreation! As the largest park in the city, Ty Warner Park has 36 acres and offers a variety of recreational activities including three multi-purpose ball fields, community playground, tennis courts, and a bocce ball court. You can also head to the Veterans Memorial Park to relaxing in an intimate setting.