Rent to own Homes in St. Michael, MN
St. Michael is a growing city with a population of 16,399 in 2010. In 2012, St. Michael was ranked as the fifth best place for home ownership in Minnesota primarily because of its affordable cost of living and rising home values. In addition, local residents love the easy access to spectacular outdoor activities like multiple golf courses and parks, all maintained by the city!
St. Michael, MN is a great place for affordable rent-to-own homes! With a median household income of over $109,487 and a median rent of $989, the St. Michael, 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 St. Michael, 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 St. Michael, MN Property Resources
Rent to own Homes in Cities Near St. Michael, 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 St. Michael, MN
No neighborhoods foundPopular Zip Codes in St. Michael, MN
55376 rent to own homesBuying a Home in St. Michael, MN
St. Michael, MN is seeing rapid growth and St. Michael, MN's' housing market remains not optimal with an average home price that is 32% above the 2024 national average. St. Michael, MN is part of Wright 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 Wright is 0.94% which is below the national average, which is 0.99%.
Median Home Price in St. Michael, MN
Median Rent in St. Michael, MN
Top 5 Reasons to Live in St. Michael, MN
Great for golfers! If you're looking to play 18 holes, head to Cedar Creek Golf Course where you'll be challenged by strategically placed bunkers, changes in elevation and tricky sand traps. Also, Fox Hollow Golf Club on Palmgren Lane offers 27-holes of championship golf. Play on the course or use their state-of-the-art driving range to perfect your swing.
Beautiful parks! St. Michael has one of the most extensive Parks and Recreation Departments in the state with more than 200-acres of preserved land reserved for hiking, mountain biking, fishing and more. At Beebe Lake Park, you'll find a beautiful lake where you can swim and sail in the summer and ice skate in the winter. At Gutzwiller Park, there are 10 athletic fields for soccer, baseball and football, plus designated picnic areas and a jogging trail.
Fun annual events! Join thousands of residents from across the community at the St. Michael Daze and Knights Festival in August every year. The event includes a business expo, Farmers Market, Beer Gardens, Parade, Fireworks, Petting Zoo and more. Held the first Saturday before Mother's Day in May, the St. Michael's Spring Clean-Up Day is when residents join forces to beautify the city. After a morning of weeding flower gardens and collecting garbage, celebrate your hard work with a BBQ lunch sponsored by local restaurants.
Home values steadily rising! Because it is always good to think of a home like an investment, it is best to buy in a city where home values are increasing. In St. Michael, the median home value has risen 5% in the last year to $208,600. The median home value is expected to increase at a 1.3% rate in 2015. Look to a neighborhood like The Cascades or along Kalland Avenue for the best selection of houses for sale.
Homes are less expensive than nearby towns! In St. Michael, a single-family home can be purchased for a median sale price of $225,038; however, in neighboring Medina this figure jumps to a whopping $690,829. As a result, buyers can find a great deal on a rent to own home in a St. Michael community along Chestnut Avenue or Iris Lane.