Rent to own Homes in Carmel, IN
This city started out as a settlement called Bethlehem, grew into into a farming community and was renamed Carmel, and then morphed into a bedroom suburb for greater Indianapolis. The latest transition has seen Carmel become its own city, laying the groundwork for a thriving arts and culture scene. Carmel was picked for the number one spot for Best Places to Live, Small Cities by CNN Money Magazine in 2012.
Carmel, IN is a great place for affordable rent-to-own homes! With a median household income of over $115,109 and a median rent of $1,247, the Carmel, IN 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 Carmel, IN. 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 Carmel, IN Property Resources
Rent to own Homes in Cities Near Carmel, IN
- Anderson
- Arcadia
- Atlanta
- Beech Grove
- Boggstown
- Carmel
- Charlottesville
- Cicero
- Country Club Heights
- Crows Nest
- Cumberland
- Edgewood
- Elwood
- Fairland
- Fishers
- Fortville
- Fountaintown
- Frankton
- Greenfield
- Greenwood
- Homecroft
- Indianapolis
- Ingalls
- Lapel
- Lawrence
- Markleville
- McCordsville
- Meridian Hills
- Morristown
- Needham
- New Palestine
- Noblesville
- North Crows Nest
- Pendleton
- River Forest
- Rocky Ripple
- Sheridan
- Southport
- Speedway
- Spring Hill
- Spring Lake
- Tipton
- Warren Park
- Westfield
- Wilkinson
- Williams Creek
- Windfall
- Woodlawn Heights
- Wynnedale
- Zionsville
Neighborhoods in Carmel, IN
Brookshire rent to own homes Prairie View rent to own homes Plum Creek rent to own homes Mohawk Crossing rent to own homes Haverstick rent to own homes Delaware Trace rent to own homes Cool Creek Estates rent to own homes Woodland Golf Club rent to own homes Grandin Hall rent to own homes Woodland Springs rent to own homesPopular Zip Codes in Carmel, IN
46082 rent to own homes 46033 rent to own homes 46032 rent to own homes 46290 rent to own homesBuying a Home in Carmel, IN
Carmel, IN is seeing rapid growth and Carmel, IN's' housing market remains not optimal with an average home price that is 62% above the 2024 national average. Carmel, IN is part of Hamilton 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 Hamilton is 1.08% which is above the national average, which is 0.99%.
Median Home Price in Carmel, IN
Median Rent in Carmel, IN
Top Reasons to Live in Carmel IN
Housing Statistics Just over 80,000 people call Carmel home, an increase of 120 percent since 2000. That growth stalled during the housing downturn, but the city is rebounding nicely through the summer of 2013. The average home sale price is at $331,225, down slightly from the year before. On the plus side, the average number of days on the market dropped to 65 and the sales price to list price ratio moved to 97.61 percent. June 2013 total home sales were 254, up from 197 year over year. Home ownership is at 76% and the rental vacancy rate is running 5.6 percent.
Carmel Area Tourist Attractions The Indianapolis Motor Speedway, the Indiana Pacers and Indianapolis Colts, and the rest of the offerings of the capital city still draw the region's tourists. That said, Carmel is coming up with cultural alternatives that not only keep people at home when looking for fun, they also are drawing from surrounding areas. The Center for the Performing Arts is a three-venue facility that brings top-level stage productions to town. The Palladium is one of the three and is known for exceptional sound quality.
Local Shopping The Carmel Arts and Design District is in the heart of old Carmel and is somewhat eclectic and artful. Art galleries, antique stores, unique shops, and restaurants are all here. Pedestrian friendly and primarily open air, the idea behind the District is to move beyond the standard suburban model of anchor store and strip mall. Carmel also has Clay Terrace, which is a shopping center that could be called an upscale strip mall.
Carmel Neighborhoods In spite of the current high median home price, Carmel is more than just expensive. Affordable neighborhoods weave their way among the higher-priced planned communities. Carmel has more roundabouts than any other city in America, which helps define many streets and offer separation. Here's a look at some of the main neighborhoods: