Rent to own Homes in Ridgeland, MS
Ridgeland, MS has a population of a little under 25,000 residents and has been experiencing positive growth during recent years. Locals often say that one of the best reasons to call Ridgeland home is the fact that the sun shines in the town nearly 365 days a year. The warm climate affords residents the ability to enjoy outdoor activities year round. It's also an ideal location for gardening and agriculture. The surrounding area boasts numerous pear orchards and strawberry farms.
Ridgeland, MS is a great place for affordable rent-to-own homes! With a median household income of over $60,296 and a median rent of $1,054, the Ridgeland, 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 Ridgeland, 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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Rent to own Homes in Cities Near Ridgeland, MS
Buying a Home in Ridgeland, MS
Ridgeland, MS is seeing rapid growth and Ridgeland, MS's' housing market remains optimal with an average home price that is -10% below the 2024 national average. Ridgeland, MS is part of Madison 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 Madison is 0.66% which is below the national average, which is 0.99%.
Median Home Price in Ridgeland, MS
Median Rent in Ridgeland, MS
Top 6 Reasons to Live in Ridgeland, MS
Growing home values and ample shopping! Home values in Ridgeland are the fastest growing in the state. With such growth, ample shopping options have sprung up all over the town. The upscale Renaissance at Colony Park is home to stores like the Banana Republic. The Northpark Mall has stores such as JC Penney and Victoria's Secret.
Outdoor activities abound! The 444-mile National Park of the Natchez Trace Parkway runs through the heart of Ridgeland. The park is known for its boating, sailing, swimming and picnic sites. Right in the heart of Ridgeland is a 10-mile bike trail that intersects the Ross Barnett Reservoir Overlook and runs all the way to the Renaissance Shopping Center.
City parks are everywhere! The city of Ridgeland is known for its numerous city parks that offer the community ample space to play a game of baseball or soccer. The 17-court Ridgeland Tennis Center is open to the public. Freedom Ridge Park, Friendship Park and Wolcott Park all have playgrounds and sport fields.
Ample dining choices! Ridgeland is known for its numerous steak house restaurants. It is home to Ruth's Chris Steak House and Kathryn's Steaks and Seafood. Anyone with a craving for international cuisine can dine at the Amerigo Restaurant or the Ding How Asian Bistro.
When the sun sets, the nightlife kicks off! Community members looking for a place to dance can head to the Applesauce Dance Factory to take a spin at ballroom dancing. Hot Shots offers live music, dancing and pool tables.
Stable housing market spurs home buying! Approximately 44 percent of the homes in Ridgeland are owner occupied. The median house price is currently at around $168,800. Most owner occupied homes were obtained through traditional home loans, but there are some rent to own houses. A rent to own program allows renters to lock in the home's purchase price and usually allots a certain amount of each month's rent towards the home's future purchase. Rent to own homes are often hard to find, but they do exist the Ridgeland area. Locals seeking mortgage advice often turn to Prime Lending or Cornerstone Home Lending.