Rent to own Homes in Milford Mill, MD
Located in Baltimore County, Milford Mill is an unincorporated community with a population of nearly 30,000. Although the true name of the city is "Milford," local townspeople added the word "Mill" because of an old mill that was once located in the community. Milford is home to two official neighborhoods: Windsor Mill and Rockdale. Windsor Mill is the commercial hub of the town with numerous shops and restaurants, while Rockdale is more residential.
Milford Mill, MD is a great place for affordable rent-to-own homes! With a median household income of over $65,229 and a median rent of $1,378, the Milford Mill, 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 Milford Mill, 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 Milford Mill, MD Property Resources
Rent to own Homes in Cities Near Milford Mill, MD
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- Takoma Park
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- Windsor Mill
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Neighborhoods in Milford Mill, MD
No neighborhoods foundPopular Zip Codes in Milford Mill, MD
21244 rent to own homesBuying a Home in Milford Mill, MD
Milford Mill, MD is seeing rapid growth and Milford Mill, MD's' housing market remains not optimal with an average home price that is 1% above the 2024 national average. Milford Mill, MD is part of Baltimore 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 Baltimore is 0.87% which is below the national average, which is 0.99%.
Median Home Price in Milford Mill, MD
Median Rent in Milford Mill, MD
Top 5 Reasons to Live in Milford Mill, MD
it's the best time to invest! Since 2009 when the median list price for a single family home in Milford Mill was nearly $230,000, prices have seen a sharp decline to their current level of $165,000. The median sale price has also fallen to a low of $149,231. As a result, buyers are able to get a great home in a neighborhood where values are poised to increase. If you're not ready to buy outright, look for a rent to own home in an area like Richwood Avenue or Greengage Road.
Home values rising! When purchasing a home, it is important to find a property that will retain and grow its value. The median home value in Milford Mill has risen 4.6 percent to $178,100 since 2013 and is expected to continue to increase 2.2 percent in 2015. The best buys can be had in neighborhoods like Johnny Cake Road and Windsor Mill Road.
Excellent shopping! Head to the Rockdale neighborhood of Milford Mill for the best shopping in the city. For groceries, you can't go wrong with the selection of natural and organic food offered at Shoppers Food & Pharmacy, while the Milford Mill Shopping Center is a 41,644-square-foot facility that has more than 30 stores.
Recreational activities abound! Head straight for Liberty Lake in Milford Mill for a summer respite from the heat. In addition to boating and kayaking, relax on the sandy shore and work on your tan or enjoy a picnic at one of the numerous tables. For more traditional sports, the Milford Mill Parks and Recreation Department coordinates numerous youth and adult leagues in basketball, baseball, football and even frisbee golf throughout the year.
Delicious seafood! Located just minutes from downtown Baltimore and the harbor, Milford Mill is known for serving the best and freshest seafood. The Windsor Inn Crab House is known for the best crabs in the city. Head to Hip Hop Fish & Chicken for a fried concoction of any fillet you could imagine.