Rent to own Homes in Columbia, MO

Columbia has often been rated among the top 10 cities to live in the country, not only because of its educational institutions, but also because of its affordable housing. The median home sale price is close to $138,000, which is markedly lower than the national average. While the real estate market here has always been a buyer's market, recent statistics show that things might be in for quite a change. Both the average home sale price and number of home sale transactions increased significantly during the last year. Nevertheless, residential property is still very affordable in Columbia, and this is one of the reasons behind the high house ownership rate here (almost 70%). Even people who come to the city as graduate students start planning well in advance and some of them take up rent to own schemes, which come out to be very reasonable in the long run.

Columbia, MO is a great place for affordable rent-to-own homes! With a median household income of over $53,447 and a median rent of $890, the Columbia, MO 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 Columbia, MO. 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.