Rent to own Homes in Olney, MD
Olney ranked Number 17 in Money Magazine's "America's Best Places To Live" edition. It also ranked as one of their "Top-earning towns." The two of these combined mean that residents enjoy a super high quality of life here. Finding a house in Olney means you can spend all that money you're earning on fine goods and wares at some of the great shopping locations, like the Fair Hill Plaza or the Westfield Wheaton shopping malls. Plus, you get to enjoy easy access to the D.C. Metro area, which is just 20 minutes away.
Olney, MD is a great place for affordable rent-to-own homes! With a median household income of over $149,155 and a median rent of $2,047, the Olney, 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 Olney, 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 Olney, MD Property Resources
Rent to own Homes in Cities Near Olney, MD
- Alexandria
- Annandale
- Annapolis Junction
- Arlington
- Bailey's Crossroads
- Burke
- Camp Springs
- Cedar Heights
- Chevy Chase
- Chevy Chase Village
- Clarksville
- Cooksville
- Dayton
- Dickerson
- Difficult Run
- Dulles Town Center
- Dunn Loring
- Fairfax
- Falls Church
- Floris
- Flower Hill
- Forest Glen
- Fort Hunt
- Fort Washington
- Four Corners
- Glenarden
- Great Falls Crossing
- Hanover
- Hutchison
- Ijamsville
- Kingstowne
- Layhill
- Mantua
- Maryland Park
- North Bethesda
- North Chevy Chase
- North Kensington
- North Potomac
- Oakton
- Potomac
- Rockville
- Sandy Spring
- Somerset
- Sugarland Run
- Travilah
- Vienna
- Washington Navy Yard
- West Friendship
- Windsor Mill
- Woodbine
Neighborhoods in Olney, MD
No neighborhoods foundBuying a Home in Olney, MD
Olney, MD is seeing rapid growth and Olney, MD's' housing market remains not optimal with an average home price that is 141% above the 2024 national average. Olney, MD is part of Montgomery 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 Montgomery is 0.76% which is below the national average, which is 0.99%.
Median Home Price in Olney, MD
Median Rent in Olney, MD
Top 4 Reasons to Move to Olney
Home values are rising! Home values in Olney have appreciated 7 percent in the last year. That means that looking for a property here is a great investment in your future! You can choose to live in a neighborhood on the east side of town near The Adventure Park at Sandy Spring and the Northwest Golf Course where it's relaxing and peaceful or head toward the center of town to be closer to the action.
Rich with history! Olney has a strong tie to its cultural past. The historic Olney Ale House is still open and running on the east side of town. You can also visit both the Sandy Spring Museum and Woodlawn Manor Living History Museum if you want to learn a little more about the town you're planning to move to! The town was first called Mechanicsville, but was then settled at Olney in 1800. It began as mostly farmlands, but started attracting wealthy merchants and artisans later in the 1800s.
Beautiful setting! Residents love to gush about how beautiful Olney is and they are right! The area is a mix of sprawling green parks, like the Rachel Carson Conservation Park, winding roads lined with beautiful historic houses, manicured lawns, and a lot of wide open space. It's a beautiful place to spend a day strolling from park to park or heading out for a classy dinner at GrillMarX or one of the many other delicious food options nearby.
Flourishing population! Olney's popularity just keeps growing. Folks here love the city because it's accessible and friendly, yet still provides the kind of entertainment and culture that usually only larger cities do. Check out the Olney Theatre for wonderful musical and theatrical productions. The school system is also a big draw, and Olney even has five private elementary schools. No matter whether you're looking for a rent to own home or want to put down the cash and buy right away, you won't be disappointed with deciding to settle here.