Rent to own Homes in Duluth, MN
Duluth is a city in Minnesota with a population of around 86,225. It's one of the Great Lakes' largest ports for transporting coal and iron ore. It's got a lot to offer both tourists and residents and is known for its personable and friendly inhabitants. The city has all kinds of attractions, like the famed Great Lakes Aquarium and the Glensheen Mansion, which is the gorgeous former home of wealthy businessman Chester Adgate Congdon. The real draw to Duluth, however, is Lake Superior, the largest freshwater lake in the world. The lake not only makes Duluth an important port, but it also offers visitors plenty of activities, such as kayaking, fishing, and swimming.
Duluth, MN is a great place for affordable rent-to-own homes! With a median household income of over $54,084 and a median rent of $854, the Duluth, 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 Duluth, 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.
More Duluth, MN Property Resources
Rent to own Homes in Cities Near Duluth, MN
Neighborhoods in Duluth, MN
Bayview Heights rent to own homes Chester Park rent to own homes Congdon rent to own homes Downtown Duluth rent to own homes Duluth Heights rent to own homes East End rent to own homes Fond Du Lac/Gary- New Duluth rent to own homes Hunters Park rent to own homes Woodland - Pleasantview rent to own homes Kenwood rent to own homesBuying a Home in Duluth, MN
Duluth, MN is seeing rapid growth and Duluth, MN's' housing market remains optimal with an average home price that is -23% below the 2024 national average. Duluth, MN is part of St. Louis 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 St. Louis is 0.78% which is below the national average, which is 0.99%.
Median Home Price in Duluth, MN
Median Rent in Duluth, MN
Top Reasons to Live in Duluth, MN
Housing Statistics Looking for rent-to-own homes or to purchase a home? Duluth is a great place to buy. The median sales price is $149,000, which is well below the national median. Eighty-four percent of houses are rented and 15 percent are owned. The residential turnover is 26 percent. The vacancy rate, however, is very low - between 1 and 2 percent. This means it can be difficult to find a house, but the city is so great, it's worth the effort.
Weather and Climate Because of Duluth's northern location, it tends to get extremely cold winters. Average temperatures in January range from -5 to 17 degrees. Summers are much more moderate with July temperatures averaging between 54 and 77 degrees. The city gets around 80 inches of snow per year. This means lots of cold, blustery days, but Minnesotans are used to that kind of thing. Get ready for some ice fishing and hot cocoa!
School Systems Duluth has many alternatives for schools, both public and private. BB Harris Elementary School has a great reputation, as does Mason Elementary School. There are three public middle schools: Duluth Middle School, Richard Hull Middle School and Louise Radloff Middle School. There is one public high school and a Math, Science and Tech High School. The private schools are Atlanta Adventist Academy and Notre Dame Academy.
Neighborhoods Duluth has over 25 different neighborhoods. It contains a vast and varied collection of residents, and each neighborhood has its own distinct feel. Here are five you should know about: