Rent to own Homes in Andover, MN
Officially established as a city in 1974, but first settled in the mid-nineteenth century, Andover, MN has a population of a little over 30,000, according to the 2010 census. It prides itself on offering residents a thriving, safe community in which to live and work, with a high quality of life and a strong tradition of civic participation in local life. Legend has it that the place got its name after an eyewitness described a train that crashed into a swamp and went "over and over!"
Andover, MN is a great place for affordable rent-to-own homes! With a median household income of over $112,967 and a median rent of $1,684, the Andover, MN 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 Andover, MN. 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 Andover, MN
- Anoka
- Apple Valley
- Bethel
- Bloomington
- Cedar
- Circle Pines
- Columbus
- Coon Rapids
- Crystal
- Dayton
- Deephaven
- East Bethel
- Edina
- Falcon Heights
- Fridley
- Gem Lake
- Golden Valley
- Hamel
- Ham Lake
- Hilltop
- Hopkins
- Hugo
- Lake Elmo
- Lauderdale
- Lexington
- Lilydale
- Lino Lakes
- Little Canada
- Long Lake
- Maple Grove
- Maplewood
- Mendota
- Minneapolis
- Minnetonka
- New Hope
- Nowthen
- Oakdale
- Orono
- Osseo
- Plymouth
- Prior Lake
- Ramsey
- Rogers
- Shakopee
- St. Anthony
- St Paul
- Vadnais Heights
- Wayzata
- White Bear Lake
- Woodland
Neighborhoods in Andover, MN
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Andover, MN is seeing rapid growth and Andover, MN's' housing market remains not optimal with an average home price that is 41% above the 2024 national average. Andover, MN is part of Anoka 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 Anoka is 1.01% which is above the national average, which is 0.99%.
Median Home Price in Andover, MN
Median Rent in Andover, MN
Top 6 Reasons to Live in Andover, Minnesota
Great local celebrations! Every year the Andover Family Fun Fest is held over two days in July in the City Hall grounds (or nearby), close to Sunshine Park and Andover Elementary school. The fun includes a parade, fireworks, huge inflatable slides, street dancing and a non-competitive 5km jog.
Some of the finest school districts in Minnesota! In the north of town, St. Francis School District 15 serves students with the highest educational standards, while Anoka-Hennepin School District 11 does the same in the southern section. There are also three elementary institutions and a middle school, alongside Andover High and the Meadow Creek Christian establishment.
A growing choice of real estate to choose from! On average, 50 new homes are built in Andover every year, comprising a range of prices, architectural styles and sizes, whether you're looking for rent to own homes or anything else. Homes for rent and for sale can be relatively cheaper in the neighborhood Constance, while nearby Heritage Oaks has some lovely townhouses.
New developments springing up all the time! In the fall of 2014 alone, these include planned new developments for town house properties at Woodland Crossing and Country Oaks West, giving more choice than ever before.
Great local amenities for off-duty times! Across the city, there are over 400 acres of parks, including the 136-acre Kelsey Round Lake Park, ideal for skiing, hiking and observing nature at its best. Alternatively, visit the Anoka County Bunker Hills regional park, extending across 400 acres and incorporating a golf course and numerous trails for cross-country skiing, hiking and biking. The Rum River Central Regional Park is just north of the town.
It's all about the food! Courtyards of Andover is the place to head for if you like rare-ish prime rib, covered in herbs. Alternatively, the Bean Coffee & Wine Cafe is a quiet and tranquil place in which to gather ones' thoughts or enjoy a peaceful conversation - it's also gluten-free friendly!