Rent to own Homes in Grosse Pointe Woods, MI
Grosse Pointe Woods hasn't always been called Grosse Pointe Woods. It was founded as the Village of Lochmoor in 1927, but residents changed its name in 1939. While people have lived in the area since the mid-1800s, the town really grew during World War II before incorporating as an official city in 1950. Home to about 16,000 people, Grosse Pointe Woods sits in the southeastern corner of the state of Michigan.
Grosse Pointe Woods, MI is a great place for affordable rent-to-own homes! With a median household income of over $111,392 and a median rent of $1,485, the Grosse Pointe Woods, MI 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 Grosse Pointe Woods, MI. 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 Grosse Pointe Woods, MI Property Resources
Rent to own Homes in Cities Near Grosse Pointe Woods, MI
- Allen Park
- Auburn Hills
- Beverly Hills
- Birmingham
- Center Line
- Clawson
- Clinton Township
- Dearborn
- Dearborn Heights
- Eastpointe
- Ecorse
- Farmington Hills
- Ferndale
- Grosse Ile
- Grosse Pointe
- Grosse Pointe Farms
- Grosse Pointe Park
- Grosse Pointe Woods
- Harper Woods
- Harsens Island
- Huntington Woods
- Inkster
- Lathrup Village
- Livonia
- Macomb
- Madison Heights
- Melvindale
- Mount Clemens
- New Baltimore
- New Haven
- Oakland
- Oak Park
- Pleasant Ridge
- Pontiac
- Ray
- Redford
- River Rouge
- Riverview
- Rochester
- Rochester Hills
- Romeo
- Roseville
- Royal Oak
- Southfield
- St. Clair Shores
- Taylor
- Troy
- Village of Grosse Pointe Shores
- Warren
- Westland
Neighborhoods in Grosse Pointe Woods, MI
No neighborhoods foundPopular Zip Codes in Grosse Pointe Woods, MI
48236 rent to own homesBuying a Home in Grosse Pointe Woods, MI
Grosse Pointe Woods, MI is seeing rapid growth and Grosse Pointe Woods, MI's' housing market remains not optimal with an average home price that is 19% above the 2024 national average. Grosse Pointe Woods, MI is part of Wayne 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 Wayne is 2.07% which is above the national average, which is 0.99%.
Median Home Price in Grosse Pointe Woods, MI
Median Rent in Grosse Pointe Woods, MI
Top 5 Reasons to live in Grosse Pointe Woods, MI
Delicious dining! Michigan can get cold, but there are lots of places to get a warm bite to eat. Ferlito's Family Dining is a favorite local joint that serves up Italian favorites like pasta, chicken and pizza. Residents also love Uncle Harry's Deli Restaurant, which is well known for its delicious Matzo Ball Soup and delicatessen specialties.
Owning a place in nature! Grosse Pointe Woods is a place where most people own their homes; in fact, about 83 percent of places in town are owned. If you want to own or rent to own a house or apartment in a place where you can enjoy the outdoors, Grosse Pointe Woods has a good selection of beautiful parks, so people can spend time outside when the weather is nice. Guesquiere Park is a central Park in town, and Sweeney is another local favorite. For people who like to spend time on the water, there's Lake Front Park and Grosse Pointe Shores Park.
Fun nightlife! There's lots of fun to be had in Grosse Pointe Woods, even after the sun goes down. Woods Bar & Grill is a local sports bar and drink spot where people can get cocktails and beers, as well as bar food. Snookers Pool & Pub is a great place in town for a game of pool, and McGee's Lounge is a popular spot for town nightlife.
Book lovers will love it! Like to read? Then you'll like living in Grosse Pointe Woods, which has a great selection of bookstores and reading nooks. Second Story Used Books is a great place to buy vintage and used books at an affordable price. All Star Books is where people can buy magazines, comic books and more.
Affordable renting! Rental prices in Grosse Pointe Woods are affordable -- about $629 per month on average for a one-bedroom and $821 for a two-bedroom. If you're considering a rental house, lots of places to live in town have their own laundry facilities; but if yours doesn't, you're not out of luck. K-Ann Coin-Op Laundry & Cleaners offers self-service laundry, while Grosse Pointe Laundry-Cleaners and Martinizing Dry Cleaning offer professionals to do it for you.