Rent to own Homes in Elkridge, MD
Elkridge, which today is an unincorporated community on the site of what was once the oldest community in the area, had a population of just under 16,000 people in the 2010 census. It has enjoyed a rich and varied history. Today, as a census-designated area, it encompasses 8.4 square miles and comprises 10 distinct communities and neighborhoods included in three counties: Howard, Anne Arundel and Baltimore.
Elkridge, MD is a great place for affordable rent-to-own homes! With a median household income of over $108,627 and a median rent of $1,813, the Elkridge, MD 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 Elkridge, MD. 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 Elkridge, MD Property Resources
Rent to own Homes in Cities Near Elkridge, MD
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Neighborhoods in Elkridge, MD
Oxford Square rent to own homesPopular Zip Codes in Elkridge, MD
21075 rent to own homesBuying a Home in Elkridge, MD
Elkridge, MD is seeing rapid growth and Elkridge, MD's' housing market remains not optimal with an average home price that is 69% above the 2024 national average. Elkridge, MD is part of Howard 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 Howard is 0.93% which is below the national average, which is 0.99%.
Median Home Price in Elkridge, MD
Median Rent in Elkridge, MD
Top 4 Reasons to Live in Elkridge, MD
Hot area! This is a popular and active seller's market, with a median list price of $202 per square foot, compared with $165 in Baltimore County. The median rent price at $1,800 is also substantially higher than the median of $1,495 for the Baltimore Metro area. Rent to own properties are also available. The Thomas Viaduct Obelisk is a symbol of historic Elkridge, and the viaduct itself is the oldest multiple arch stone railroad bridge in the world. Modern life coexists peacefully with history in Elkridge, and the Patapsco River meanders right through the middle of town.
Eating out! Stop by the family-run Daniel's Restaurant and Bar for good food and a brew at the unique open air bar, or make reservations at the historically-registered homes of the Elkridge Furnace Inn for fine American dining in elegant surroundings. The crab cakes here are special!
Surplus of homes! Most of the available housing is single family homes, and 66 percent of those homes are owner-occupied. Rental households account for 29 percent of the housing, and 5 percent of homes were unoccupied last year. When it comes time to decorate, you can buy locally made Santas carved right in Elkridge at Goodys Folk Art on Main Street. They also produce hand-painted pine furniture and Shaker boxes. Most Diverse Energy Improvement Remodeler can help you with energy-efficient suggestions to save you money at your new home.
Plenty of parks! Rockburn Branch Park is a favorite place to play, explore and enjoy nature; it also includes Pfeiffer's Corner Schoolhouse, a one-room schoolhouse that served area children for decades. It has been restored and is now used for classes and special events at the park. Other locations for fun are Avalon Area and Patapsco State Park.