Rent to own Homes in Lakeville, MN
Steady Real Estate Market: From 2013 to 2014, home values in Lakeville have increased by 5.8%. Over the past 5 years, prices have gone up a total of 4%. For someone considering rent to own houses in Lakeville, the stability of this market's a strong selling point. Bonus if you can find a place near Harry's Cafe or the Chart House to get some of the famous local grub the city prides itself on!
Lakeville, MN is a great place for affordable rent-to-own homes! With a median household income of over $112,020 and a median rent of $1,464, the Lakeville, 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 Lakeville, 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 Lakeville, MN Property Resources
Rent to own Homes in Cities Near Lakeville, MN
- Arden Hills
- Brooklyn Center
- Brooklyn Park
- Cannon Falls
- Chanhassen
- Columbia Heights
- Cottage Grove
- Crystal
- Deephaven
- Dennison
- Elko New Market
- Gem Lake
- Hampton
- Hastings
- Inver Grove Heights
- Lake Elmo
- Landfall
- Maplewood
- Medicine Lake
- Mendota
- Mendota Heights
- Mounds View
- New Brighton
- Newport
- New Trier
- Northfield
- North St. Paul
- Oakdale
- Prior Lake
- Randolph
- Robbinsdale
- Rosemount
- Roseville
- Shakopee
- Shoreview
- Shorewood
- South St. Paul
- St. Louis Park
- St Paul
- Saint Paul
- St. Paul Park
- Sunfish Lake
- Vadnais Heights
- Vermillion
- Wayzata
- Webster
- West St. Paul
- White Bear Lake
- Woodbury
- Woodland
Neighborhoods in Lakeville, MN
Foxborough rent to own homes Kenridge rent to own homes Timbercrest At Lakeville rent to own homes Hypointe Crossing rent to own homes Rolling Oaks South rent to own homes Prairie Lake rent to own homes Golden Pond rent to own homes Chadwick Farm rent to own homes Cedar Highlands rent to own homes Bracketts Townhomes rent to own homesPopular Zip Codes in Lakeville, MN
55044 rent to own homesBuying a Home in Lakeville, MN
Lakeville, MN is seeing rapid growth and Lakeville, MN's' housing market remains not optimal with an average home price that is 50% above the 2024 national average. Lakeville, MN is part of Dakota 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 Dakota is 1.02% which is above the national average, which is 0.99%.
Median Home Price in Lakeville, MN
Median Rent in Lakeville, MN
11 Reasons to Live in Lakeville
Property Taxes are Reasonable: Property taxes aren't going to be too taxing on your budget here in Lakeville. You can use the money you save to shop or decorate your home with goods from the nearby Super Target or the Mills Fleet Farm.
Solid Economic Prospects: With unemployment sitting at 4.20%, Lakeville's unemployment rate is lower than the national average. Future job growth is at 35.22%, also above the average. Good news all around. There are a number of big employers in the city, including the Airlake Airport and the Lakeville School System.
Listing Prices Going Down, While Listings Go Up: The listing prices for Lakeville homes have dropped from 387,000 to 377,000 from February 12, 2014 to March 5, 2014. While all this was going on, however, the amount of daily listings have gone up from 201 to 212 during the same period. This seems like an ideal time to pick up a great home at an even better price. Argonne and Antler's Park are two great areas to start looking for rent to own homes in Lakeville!
Very High Ownership Rates and Very Low Vacancy Rates: Ownership rates in Lakeville are at an incredibly high 83.94%. Meanwhile the vacancy rate is a low 4.16%. This is good in that rent to own agreements can likely be arranged in some cases, but you'll have to move quickly since the city may be filling up. Check out Deer Park and the area around Dodd Boulevard for both rental and for sale vacancies!
Explore Your Artistic Side: The Lakeville Area Arts Center is more than just another theatre. It's an active part of the community. Case in point, this is the place where a "Taste of Lakeville" is held every year. Besides allowing people to enjoy the work of talented artists in exhibits, the center also offers artistically inclined workshops to the public in areas like photography and drama.
Pick a Beach...Any Beach: Lakeville is home to three beaches. Antlers Park Beach, Orchard Lake Beach, and Valley Lake Beach, which offer volleyball, fishing, picnics and restaurants.
The Mini-Zoo: With Fur-Ever Wild Wolves and Woods, animal lovers get to take photos and ask questions during a guided tour. Afterwards, grab a bite to eat at Redfox, Tavern, Rudy's Redeye Grill or Buckboard, which are all a short drive away.
The Food: The classy layout and the excellent food that characterize Porterhouse Steak and Seafood have made it a favorite with residents and visitors alike. For a quick bite to eat, check out Baldy's BBQ's, which offers generous portions, or Harry's Cafe, which serves up a plate of hot food in a snap.
Fun Activities: Lakeville Arenas offers basic figure skating courses. It has a spring and summer program for those who are discovering the fun of skating. Meanwhile dance classes for adults are available at the Lakeville Heritage Center for those who are so inclined.
Are You a Golf Aficionado: Lakeville provides golf enthusiasts with three interesting courses to choose from. Crystal Lake Golf Club has an expanded range, Heritage Links Golf Club has a flexible championship course and Brackett's Crossing Country Club was formerly voted the "Golf Course of the Year."