Rent to own Homes in Greenwood, MS
Founded along the Yazoo River by John Williams in 1834, this city was originally a trading post called Williams Landing. The area was incorporated in 1844 as Greenwood. During that time it became the county seat of Leflore County, Mississippi. The city occupies a land area of 13 square miles and has a population of 16,087.
Greenwood, MS is a great place for affordable rent-to-own homes! With a median household income of over $32,565 and a median rent of $557, the Greenwood, MS 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 Greenwood, MS. 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.
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Greenwood, MS is seeing rapid growth and Greenwood, MS's' housing market remains optimal with an average home price that is -59% below the 2024 national average. Greenwood, MS is part of Leflore 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 Leflore is 0.9% which is below the national average, which is 0.99%.
Median Home Price in Greenwood, MS
Median Rent in Greenwood, MS
Top 5 Reasons to Live in Greenwood, MS
Extremely low cost of homes! Those who live in Mississippi know that the state in general already enjoys a low real estate cost, with the state average costing less than $100,000. In Greenwood, the city average cost of homes for sale is even lower than this at about $80,000. Rent to own homes can be found in the Route 82/Bowie Lane neighborhood. For those who want to buy, the Route 49 E/W Park Avenue neighborhood has the most valuable real estate in town.
Apartments are also very affordable! Greenwood has a wide variety of apartment complexes available. More importantly, the rental prices in these apartments are priced similarly to the houses, making it easy to find affordable units. Terrace View Apartments are excellent, and Earnestine McNeace Apartments offer some great prices and notable features.
Enjoy the local entertainment! Greenwood has a nice, small-town feel and some unique entertainment opportunities. The Greenwood Little Theatre is one popular destination. They hold regular shows at this venue and offer a great respite for those interested in performing arts. If you're looking for something a bit quieter, the Cottonlandia Museum offers some wonderful exhibits.
Grab a relaxing drink! The city of Greenwood offers a great variety of bars to explore. The Orlando Club offers well-priced options and a great atmosphere. When you are looking to watch your favorite team, Scruples Sports Bar is another great choice.
Excellent local restaurants! Delta Bistro is one of the great local spots, and newcomers are encouraged to try local favorites like the catfish or alligator. Alternatively, Steven's Bar-B-Q offers some of the best food in Mississippi.