Rent to own Homes in Wake Forest, NC
The sixth largest city in North Carolina, Wake Forest has a population of 34,752. Considered by the U.S. Census Bureau to be one of the fastest growing cities in the US, Wake Forest has had its population nearly triple since 2000. Ranked as the #8 most livable city in North Carolina, Wake Forest offers terrific local amenities with more than twenty restaurants within two miles of Main Street, a stable housing market and plenty of activities for residents.
Wake Forest, NC is a great place for affordable rent-to-own homes! With a median household income of over $100,162 and a median rent of $1,190, the Wake Forest, NC 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 Wake Forest, NC. 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 Wake Forest, NC
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Heritage rent to own homesBuying a Home in Wake Forest, NC
Wake Forest, NC is seeing rapid growth and Wake Forest, NC's' housing market remains not optimal with an average home price that is 44% above the 2024 national average. Wake Forest, NC is part of Wake 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 Wake is 0.81% which is below the national average, which is 0.99%.
Median Home Price in Wake Forest, NC
Median Rent in Wake Forest, NC
Top 6 Reasons to Live in Wake Forest, NC
Price Cuts Are Your Friend! Anytime you hear that more than 30 percent of listings in a city have had a price cut, it is time to pay attention because this means homeowners are motivated to sell. In Wake Forest, not only have 31.5 percent of listings had a price cut, but also 29.3% percent have sold below the list price. Feel confident on making an offer below list in a neighborhood of new construction houses like Springtime Fields Lane or Rainy Lake Street.
Home Values Going Higher! After peaking in 2009 at nearly $280,000, the median home value in Wake Forest has fallen steadily. However, Wake Forest is once again seeing growth with a 5 percent increase in the median home value in 2014 to $250,400. With the number expected to grow another 3.2 percent, now is the time to purchase a rent to own home in an area that is growing in value. The neighborhoods of Neville Court and Granite Ridge offer the best value.
Numerous Historical Attractions! Listed on the National Register of Historic Places, The Dubois Center was the school for the African-American community from 1926 till the end of segregation in 1971. Learn about the history of the city at the Wake Forest Historical Museum.
Outdoor Recreation and its Best! Within Wake Forest, there are 10 parks and community centers that encompasses more than 40,000 acres of land. At the Fish Lake State Recreation Area, you'll find 30,000 acres of land and the 12,000 acre Falls Lake perfect for activities ranging from boating to fishing to mountain biking to hiking. Head to the J.B Flaherty Park and find eight baseball fields, three soccer fields and lighted tennis courts.
Delicious Cuisine! Head to the University of Wake Forest to their on-campus Dairy Depot for homemade ice cream that is made every day. For the best crab in the city, the Backfires Crab House has been in business for more than three decades.
Great Local Shops! Head to Downtown Wake Forest to experience great shopping at local businesses like The Cotton Company for home decor or Southern Classic Cars for beautiful vintage automobiles.