Rent to own Homes in Harper Woods, MI
The city of Harper Woods, Michigan, is on Detroit's eastern edge. It got its name from Harper Avenue and the fact that it was mainly a wooded area at the time. Harper Woods became an official city in 1951 and grew throughout the 1950s. It's a small city with only 2.61 square miles of space, but its population is more than 14,000. Close access to Detroit and main roads make this a convenient place to take up residence. Just be prepared for winter lows in the teens and an average of 25 inches of snow per year.
Harper Woods, MI is a great place for affordable rent-to-own homes! With a median household income of over $50,718 and a median rent of $1,101, the Harper 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 Harper 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.
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Rent to own Homes in Cities Near Harper Woods, MI
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Neighborhoods in Harper Woods, MI
No neighborhoods foundPopular Zip Codes in Harper Woods, MI
48225 rent to own homesBuying a Home in Harper Woods, MI
Harper Woods, MI is seeing rapid growth and Harper Woods, MI's' housing market remains optimal with an average home price that is -53% below the 2024 national average. Harper 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 Harper Woods, MI
Median Rent in Harper Woods, MI
Top 4 Reasons to Live in Harper Woods, MI
Appreciation rates on the rise! Home appreciation rates in Harper Woods are more than three times the national average. With such high home values, this is a wonderful time to become a Harper Woods homeowner. Check out homes for sale in the Washtenaw Street and Kelly Road neighborhood or the Bournemouth Street and Harper Avenue neighborhood. Both of these areas have the highest appreciation rates in all of Harper Woods.
Plenty of rentals! If you're not planning to buy a home in Harper Woods right away, you'll find several rental options here. Whether you want an apartment or a rental house, the best places to look are in the Vernier Road neighborhood or in the Beaconsfield Street and Eastwood Drive neighborhood. Don't forget that rent to own places are another option if you're considering staying here permanently.
A variety of places to eat! Harper Woods has the usual chain restaurants that you find in many cities, but it also offers an unusual dining establishment that's a bit more fun. The Royal Eagle Restaurant features a Venetian style with a distinctly Russian exterior and beautiful gardens to explore. The menu includes a fine selection of European dishes, such as Bulgarian lamb kebabs and chicken Kiev. At the more down-to-earth end of the spectrum is Nona's Pizzeria, which offers delicious Italian food served in a cozy, inviting atmosphere.
Great shopping and local programs! Harper Woods has several places to shop for groceries, clothes, home goods and more. The main shopping place is Eastland Center, which has a wide range of stores, including Burlington Coat Factory, Foot Locker and Target. Harper Woods also offers several local programs for all ages. At Harper Woods Public Library, you can join a book club, catch a movie or take computer classes. Keep an eye on the library's calendar for upcoming programs and events.