Rent to own Homes in Northfield, MN
Northfield's status as an agricultural center officially changed in 2002 with the closing of the downtown grain elevator. Today, Northfield is a growing suburb on the southern edge of the Minneapolis-St. Paul area. Carleton College and St. Olaf College lead the town with a vibrant arts and culture environment, where there is always something going on. Northfield provides just the right mix of economic stability and affordability to make it a popular place to live.
Northfield, MN is a great place for affordable rent-to-own homes! With a median household income of over $69,407 and a median rent of $812, the Northfield, 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 Northfield, 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 Northfield, MN Property Resources
Rent to own Homes in Cities Near Northfield, 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 Northfield, MN
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55057 rent to own homesBuying a Home in Northfield, MN
Northfield, MN is seeing rapid growth and Northfield, MN's' housing market remains not optimal with an average home price that is 11% above the 2024 national average. Northfield, MN is part of Rice 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 Rice is 0.89% which is below the national average, which is 0.99%.
Median Home Price in Northfield, MN
Median Rent in Northfield, MN
Top 6 Reasons to Live in Northfield, MN
Rising home prices! Northfield home sales have been rising steadily. In addition, popular neighborhoods, such as the Downtown area and the Carleton College neighborhood, continue to enjoy low vacancy rates, and rent to own homes are found in and around the two colleges.
A downtown that brings people together! Bridge Square was built early in the town's history and continues to be a focal point. Scenic walkways along the river, shops and restaurants attract local residents and students alike. The Hogan Brothers cafe offers acoustic music in a relaxed atmosphere, and Sunday morning at Hideaway Coffeehouse is always bustling.
Values can be found everywhere! The average home price is still below the Minnesota average at $98 per square foot. But act quickly, as sellers and rental agents often receive several offers. This can be truer in the Downtown and St. Olaf area during the late summer, when faculty and students are gobbling up available homes.
Learn about the demise of Jesse James! The famous outlaws, the James-Younger Gang, met their end in Northfield. Learn all about it at the museum, which is located at the original bank robbery site. Northfield is proud of its role in defeating the outlaws and holds the Outlaw Run each year. However, the modern day version is a road and bike race, and there are no outlaws to chase.
Don't miss the crazy festivals! The annual Horseshoe Hunt has become a favorite community event as locals try to find a horseshoe hidden somewhere on the public grounds. And, don't miss the annual The Defeat of Jesse James Days and witness the reenactment of the gang's failed robbery.
Get outdoors! Stop by the Carleton College Cowling Arboretum, which boasts a nature preserve and a 15-mile trail for runners. You can also stop and fish at the Cannon River.