Rent to own Homes in Waterville, ME
Waterville sits on the west bank of the Kennebec River in Northern Maine. The town was once located on the eastern bank, but was burned when the Canibas tribe left the area. When new residents from the west side of town couldn't pass over the river to get to city meetings, a separate city was incorporated. An ideal post for trading, the city flourished and housed academics, philanthropists and television producers, such as David E. Kelley of Alley McBeal fame.
Waterville, ME is a great place for affordable rent-to-own homes! With a median household income of over $39,722 and a median rent of $759, the Waterville, ME 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 Waterville, ME. 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 Waterville, ME Property Resources
Rent to own Homes in Cities Near Waterville, ME
- Albion
- Athens
- Augusta
- Belgrade
- Burnham
- Canaan
- Clinton
- Detroit
- Fairfield
- Farmingdale
- Freedom
- Gardiner
- Hallowell
- Hartland
- Jefferson
- Liberty
- Manchester
- Morrill
- Mount Vernon
- Norridgewock
- Oakland
- Palermo
- Palmyra
- Pittsfield
- Plymouth
- Randolph
- Readfield
- Searsmont
- Skowhegan
- Smithfield
- South China
- Thorndike
- Troy
- Union
- Unity
- Vassalboro
- Washington
- Waterville
- Whitefield
- Windsor
- Winslow
Neighborhoods in Waterville, ME
No neighborhoods foundPopular Zip Codes in Waterville, ME
04903 rent to own homesBuying a Home in Waterville, ME
Waterville, ME is seeing rapid growth and Waterville, ME's' housing market remains optimal with an average home price that is -43% below the 2024 national average. Waterville, ME is part of Kennebec 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 Kennebec is 1.12% which is above the national average, which is 0.99%.
Median Home Price in Waterville, ME
Median Rent in Waterville, ME
Top 5 Reasons To Live In Waterville, ME
Affordable and convenient property! If you're looking for a home that won't break the bank, search the blocks that make up the Colby College and Mayflower Hill communities. These homes have median prices of $110,747, with average monthly rental costs of $605. The area provides easy access to I-95 and Robert LaFleur Airport. Residents enjoy teeing off at the Pine Ridge Municipal Golf Course or taking in exhibits at the Colby College Museum Of Art.
Quaint cafes and eateries! Waterville's dining establishments run the gamut from restaurants that offer a fancy night out on the town to grab-and-run options. 18 Below offers seafood in an upper-crust setting and serves exceptional paella, rack of lamb and diver scallops. For something a bit more casual, try The Last Unicorn, which doles out New American fare, including wasabi-crusted tuna, swordfish and steak in a cozy environment. The town also offers eclectic staples, like the Thai Bistro and Buen Appetito Mexican Restaurant.
Affordable rent to own options! Waterville's City Center offers small single-family houses for $591 a month on average, lower than 93.1 percent of the neighborhoods in Maine. The historic community is full of character and charm, with homes that were predominantly built before 1939. Surrounded by amenities, such as the Waterville Opera House, the Public Library and Uncle Dean's Good Groceries, this section of town has it all, including shorefront property off the Kennebec River.
Get your music fix! When searching for vintage vinyl, head to The Record Connection, where you can browse through the stacks in search of your favorite piece of wax. Head to Mainely Brews Restaurant and Brewhouse and listen to live bands.
Stock your pantry! Waterville offers a variety of shopping options that are within reach no matter where you live. Shaw's Grocery, Joseph's Market and Barrels Community Market serve locals looking for specialty items or a handful of blueberries.