Rent to own Homes in Michigan City, IN
Part of LaPorte County, Michigan City, comprising an area just under 23 square miles, is on the northeastern border of Indiana and is called home by over 31,000 residents. With the original settlement dating back to 1830 and its incorporation as a city only six years later, it has grown into an attractive destination. Located only 50 miles east of Chicago, Michigan City serves as a tourism hub during the summer months.
Michigan City, IN is a great place for affordable rent-to-own homes! With a median household income of over $44,930 and a median rent of $764, the Michigan City, 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 Michigan City, 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 Michigan City, IN Property Resources
Rent to own Homes in Cities Near Michigan City, IN
- Aberdeen
- Beverly Shores
- Burnham
- Burns Harbor
- Calumet City
- Cedar Lake
- Chesterton
- Chicago
- Crown Point
- Dune Acres
- Dyer
- East Chicago
- Gary
- Griffith
- Hammond
- Hebron
- Highland
- Hobart
- Kouts
- Lake Dalecarlia
- Lakes of the Four Seasons
- Lake Station
- Lansing
- Long Beach
- Lynwood
- Merrillville
- Michigan City
- Munster
- New Chicago
- Ogden Dunes
- Portage
- Porter
- Pottawattamie Park
- Salt Creek Commons
- Schererville
- Shorewood Forest
- South Haven
- St. John
- Town of Pines
- Trail Creek
- Union Mills
- Valparaiso
- Wanatah
- Westville
- Wheeler
- Whiting
- Winfield
Neighborhoods in Michigan City, IN
Elston Grove Historic District rent to own homes Wabash Street Historic District rent to own homes Midtown rent to own homes Eastport rent to own homes North End rent to own homes Washington Park rent to own homes Beachway rent to own homes Trail Creek Waterfront rent to own homes Uptown Arts District rent to own homes Franklin Street Historic District rent to own homesPopular Zip Codes in Michigan City, IN
No zip codes foundBuying a Home in Michigan City, IN
Michigan City, IN is seeing rapid growth and Michigan City, IN's' housing market remains optimal with an average home price that is -56% below the 2024 national average. Michigan City, IN is part of LaPorte 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 LaPorte is 0.87% which is below the national average, which is 0.99%.
Median Home Price in Michigan City, IN
Median Rent in Michigan City, IN
6 Reasons to Live in Michigan City, Indiana
Take a look back at the history! Michigan City developed so quickly in its early days that it is almost a mystery as to why the city isn't even larger today. Despite its relatively small population, the area does have plenty to offer. The Barker Mansion is a popular destination to learn more about the country's history and the Old Lighthouse museum is another great historical spot to check out.
Go for a hike in the park! Michigan City is divided into a few distinct areas, some more developed than others. When you want to get away and escape for some fresh air, there are multiple parks to explore. Trail Creek offers some beautiful paths and Washington Park is a popular destination for locals looking to watch the sunset.
Take advantage of real estate costs! Homes for sale in Michigan City are currently experiencing extreme lows, with the average sitting around $94,000. These prices are well below the national average and below the Indiana state average. If you so desire, there are also plenty of rent to own homes on the market at present. Both the Davis and Orchard Highland neighborhoods are great places to look for homes in this price range.
Plenty of apartments to explore! The average cost of a rental unit in Michigan City is also notably low, allowing renters to live in a nice apartment for an attractive, low price, with some units priced at Normandy Village for as low as $410. If you're looking for something larger, WeatherStone Village apartments start at $599. There are also a fair share of homes for rent, which typically tend to fall below the national average when comparing the cost of monthly rent.
Enjoy the local arts! The Lubeznik Center for the Arts is located in Michigan and offers visitors an impressive museum to look at both national and local works of art. For those who prefer theater, the Dunes Summer Theatre regularly puts on performances for the community.
A diverse city with something for everyone! Some locals enjoy spending time at the Blue Chips Casino trying out games of chance. Others prefer a slower paced day at the Shady Creek Winery. Either way, Michigan City has something for everyone.