Rent to own Homes in Plymouth, MN
Located about 15 miles to the west of Downtown Minneapolis is the city of Plymouth, Minnesota. This city is the third largest in the Minneapolis-Saint Paul area. That metro area is home to more than 3.2 million people, though the city of Plymouth is home to about 70,576 people. The city, which was ranked number one in Money Magazine's "America's Best Places to Live 2008," is known for its suburban lifestyle and overall ideal location. This may be why you'd want to look for a rent to own home here.
Plymouth, MN is a great place for affordable rent-to-own homes! With a median household income of over $112,631 and a median rent of $1,418, the Plymouth, 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 Plymouth, 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 Plymouth, MN Property Resources
Rent to own Homes in Cities Near Plymouth, MN
- Anoka
- Apple Valley
- Bloomington
- Burnsville
- Cedar
- Chaska
- Circle Pines
- Columbus
- Coon Rapids
- Crystal
- Dayton
- Deephaven
- Eagan
- Eden Prairie
- Edina
- Falcon Heights
- Fridley
- Gem Lake
- Golden Valley
- Hamel
- Ham Lake
- Hanover
- Hilltop
- Hopkins
- Lauderdale
- Lexington
- Lilydale
- Lino Lakes
- Little Canada
- Long Lake
- Maple Grove
- Maplewood
- Mendota
- Minneapolis
- Minnetonka
- New Hope
- Nowthen
- Orono
- Osseo
- Plymouth
- Prior Lake
- Ramsey
- Rogers
- Shakopee
- St. Anthony
- St Paul
- Vadnais Heights
- Wayzata
- White Bear Lake
- Woodland
Neighborhoods in Plymouth, MN
No neighborhoods foundPopular Zip Codes in Plymouth, MN
55441 rent to own homes 55442 rent to own homes 55446 rent to own homes 55447 rent to own homesBuying a Home in Plymouth, MN
Plymouth, MN is seeing rapid growth and Plymouth, MN's' housing market remains not optimal with an average home price that is 69% above the 2024 national average. Plymouth, MN is part of Hennepin 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 Hennepin is 1.14% which is above the national average, which is 0.99%.
Median Home Price in Plymouth, MN
Median Rent in Plymouth, MN
Top Reasons to Live in Plymouth MN
Housing Statistics Prior to making an investment in rental homes or other property here, consider the housing market as a whole. The median sales price of a home here, as of the second quarter of 2013, was $300,882. This is about 19 percent higher than it was the year prior. The average listing price, as of the final week of August 2013, was $413,777. In the previous six months, the area has sold about 344 homes. It is also important to know that the annual residential turnover here is 21 percent.
Local Events and Festivals A variety of events occur in Plymouth on an annual basis. This includes the Farmer's Market, which showcases locally grown foods. King Richard's Faire is a medieval event with everything from jousting to singing minstrels. It runs throughout the summer and fall months. Another event is the Bog Jog 5K Trail Run that happens annually in the fall. This is the perfect reason to get outdoors to view the changing leaves.
Local Restaurants Plymouth is sure to keep your taste buds happy. Patrizia Italy Trattoria, East Bay Grille, and The Cabby Shack are three of the most popular, locally owned destinations. You may want to check out the seafood at Blue-Eyed Crab Grille and Raw Bar. Sabor, Alden Park Bar and Grill and Union Fish Seafood are also popular options here.
Neighborhoods Plymouth, as a large city, is home to several local communities. When comparing housing options, any of these destinations may be a great choice.