Rent to own Homes in Potomac, MD
Delicious Eateries: Succulent seafood at its best can be tasted at the Grilled Oyster Company. Try the delicious soft shelled crab sandwich, the garlic and butter mussels or the oysters and calamari. In the mood for some chicken and waffles or fried green tomatoes? Be sure to visit MoCo's Founding Farmers. For a taste of New York in Maryland, check out Brooklyn's Deli and Grill.
Potomac, MD is a great place for affordable rent-to-own homes! With a median household income of over $189,729 and a median rent of $2,024, the Potomac, 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 Potomac, 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 Potomac, MD Property Resources
Rent to own Homes in Cities Near Potomac, MD
- Alexandria
- Annandale
- Arlington
- Ashburn
- Bailey's Crossroads
- Braddock
- Brambleton
- Broadlands
- Burke
- Burke Centre
- Cedar Heights
- Chevy Chase
- Chevy Chase Village
- Dickerson
- Difficult Run
- Dulles Town Center
- Dunn Loring
- Fairfax
- Fairfax Station
- Fair Lakes
- Falls Church
- Floris
- Flower Hill
- Forest Glen
- Fort Hunt
- Great Falls Crossing
- Hutchison
- Ijamsville
- Kincora
- Kingstowne
- Layhill
- Leesburg
- Mantua
- Moorefield
- Moorefield Station
- Mount Vernon
- Navy
- North Bethesda
- North Chevy Chase
- North Kensington
- North Potomac
- Oakton
- One Loudoun
- Potomac
- Rockville
- Somerset
- Sugarland Run
- Travilah
- Union Mill
- Vienna
Neighborhoods in Potomac, MD
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Potomac, MD is seeing rapid growth and Potomac, MD's' housing market remains not optimal with an average home price that is 316% above the 2024 national average. Potomac, 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 Potomac, MD
Median Rent in Potomac, MD
10 Reasons to Live in Potomac, MD
Life in Potomac: Potomac has a median income of $75,000, which is way above the national average. Most of the residents work in Washington, DC. The city is home to about 45,000. Look for houses near the Potomac Village Shopping Center or Rockville Town Square if you like having shopping areas nearby.
Economic boom: Finding a job in this area is fairly easy, being that the unemployment rate in Potomac is one of the lowest in the country at 2.9%. Score a place next to the Potomac Safeway or the Giant grocery store for easy shopping options.
Impressive housing costs: The average cost of a house in Potomac is close to $900,000. The typical homeowner's mortgage is close to $3,500 per month, and the typical renter will pay rent around $1,500 per month. 85% of residents here own their own homes. The average number of rooms in a home is nine, and the average age of a house is 30 years. You can look for great rent to own homes near the Potomac Promenade or Bear Island if you like outdoor recreation!
Impressive vacancy rate: The vacancy rate in Potomac is 3.3%, which is a very good rate for the 16,000 homes in the city. However, available homes don't stay available for long. Once you settle in one of the rent to own houses, you can participate in Potomac Day, the annual festival held in Potomac Village!
Cultural and educational attractions: Potomac Day is an annual event that occurs in October. It includes a parade, arts and crafts, a wide variety of food vendors, and prizes, which are given to residents by businesses that participate in the event. It's held in Potomac Village, which is easily accessed by Route 189 or Persimmon Tree Road.
Want to take a hike: If you like hiking, take the scenic route through the Billy Goat Trail. For golf enthusiasts of all ages and levels, the Falls Road Golf Course is a must visit. Enjoy playing golf while taking in the view!
Attractions and food: For fresh produce and meats, don't miss out on Norman's Farm Market. Or try the Old Angler's Inn for some real local fare.
Wonderful neighborhoods: River Falls is located near the historic section of the city. The neighborhood is full of large, stately homes. But if you are interested in purchasing a home in this area, you need to move quickly. Homes for sale and rent to own homes don't last long. Westleigh is a spacious community that has many walking and horse trails, parks, and playgrounds.
Shops galore: There are plenty of great shopping malls in the city, including Potomac Village Shopping Center, Potomac Promenade and Seven Locks Plaza. All of these have your favorite shops and retail stores at your disposal.