Rent to own Homes in Madison, NJ
This charming borough has a delightfully historic downtown, nice green spaces and elegant houses. Originally settled by Native Americans centuries ago, the area that would become Madison was favored first by Dutch fur traders and later by English settlers. These days, the borough is home to around 16,000 people. About 25 miles from New York City, it's home to many commuters as well as those who live and work locally.
Madison, NJ is a great place for affordable rent-to-own homes! With a median household income of over $157,188 and a median rent of $1,908, the Madison, NJ 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 Madison, NJ. 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 Madison, NJ Property Resources
Rent to own Homes in Cities Near Madison, NJ
- Brookside
- Carteret
- Connecticut Farms
- East Brunswick
- East Franklin
- East Millstone
- Elizabeth
- Fords
- Franklin Center
- Franklin Park
- Green Knoll
- Harrison
- Hibernia
- Hillsborough
- Hopelawn
- Kearny
- Kenilworth
- Kenvil
- Lamington
- Linden
- Llewellyn Park
- Macopin
- Madison
- Manville
- Mendham
- Menlo Park Terrace
- Middlebush
- Millington
- Millstone
- Mount Arlington
- North Brunswick
- North Haledon
- Parlin
- Paterson
- Perth Amboy
- Plainfield
- Pluckemin
- Port Reading
- Preakness
- Rutgers University Busch Campus
- Rutgers University Livingston Campus
- Sayreville
- Secaucus
- Society Hill
- Somerset
- South Bound Brook
- Springfield
- Succasunna
- Weston
- Wyckoff
Popular Zip Codes in Madison, NJ
07940 rent to own homesBuying a Home in Madison, NJ
Madison, NJ is seeing rapid growth and Madison, NJ's' housing market remains not optimal with an average home price that is 241% above the 2024 national average. Madison, NJ is part of Morris 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 Morris is 1.62% which is above the national average, which is 0.99%.
Median Home Price in Madison, NJ
Median Rent in Madison, NJ
7 Reasons to Love Living in Madison, New Jersey
High value homes! With a median late 2014 sales price of $690,000, it's easy to see that properties here hold a lot of value. If a historic place near downtown isn't what you are looking for, try the area near Cole Park for beautiful homes on large lots with mature landscaping. The Spring Garden Brook part of the community has nice homes near green space.
Picturesque downtown! This beautiful area has provided settings for hits such as "The Family Stone" and "The World According to Garp," and episodes of "The Sopranos." The governor's ball in "A Beautiful Mind" was filmed in Lenfell Hall of Florham Mansion on the College of Florham campus in Madison. Also in the borough, Drew University was part of the 2007 film "Spinning Into Butter."
Lovely eateries! Shanghai Jazz Restaurant & Bar on Main Street is highly-regarded for its Chinese cuisine and upscale American fare. L'Allegria on Prospect is a fantastic Italian restaurant with charming decor. McCool's Ice Cream Parlour has incredible frozen treats.
Shakespeare! Fans of the Bard will enjoy professional productions at one of the nation's leading Shakespeare showcases, the Shakespeare Theatre of New Jersey. It's located on the grounds of Drew University, just across from Rose Memorial Library.
A variety of housing options! The community has a long history and has seen several periods of construction offering differing styles. Find lovely single-family residences on nice lots near the green space of Memorial Park, or search for rent to own housing options in the neighborhoods above James Park. For larger homes, look around Crestview or Glenfield.
Golfing in town! Open since 1896, Madison Golf Club is a local legend. The immaculate greens are amazing. Just a bit to the south are the greens of Fairmount Country Club.
Arts and history! Madison Arts and Culture Alliance presents the Madison Sidewalk Art Gallery every spring, just one example of the great art scene in the borough. The Museum of Early Trades and Crafts provides interesting insights to techniques from the past.