Rent to own Homes in Lackawanna, NY
Lackawanna, New York was once a part of the Buffalo Creek Reservation and was inhabited by the Seneca Indians, who sold it in 1842. The resulting town was called West Seneca or Limestone Hill. In the 20th century, steel manufacturing was king, and nearly 20,000 residents held jobs in the steel industry. Today, Lackawanna is home to more than 18,000 residents who take advantage of a low unemployment rate and reasonable home prices.
Lackawanna, NY is a great place for affordable rent-to-own homes! With a median household income of over $39,984 and a median rent of $713, the Lackawanna, NY 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 Lackawanna, NY. 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 Lackawanna, NY Property Resources
Rent to own Homes in Cities Near Lackawanna, NY
- Akron
- Alden
- Billington Heights
- Blasdell
- Boston
- Bowmansville
- Buffalo
- Cheektowaga
- Clarence
- Clarence Center
- Colden
- Corfu
- Depew
- Derby
- East Amherst
- East Aurora
- East Concord
- Eden
- Eggertsville
- Elma Center
- Gasport
- Getzville
- Glenwood
- Grand Island
- Grandyle Village
- Hamburg
- Harris Hill
- Holland
- Kenmore
- Lackawanna
- Lake View
- Lancaster
- Lewiston
- Lockport
- Newfane
- Niagara Falls
- Niagara University
- North Boston
- North Tonawanda
- Orchard Park
- Ransomville
- Sloan
- South Lockport
- Tonawanda
- Tonawanda Town
- Town Line
- University at Buffalo
- Wanakah
- West Seneca
- Williamsville
Neighborhoods in Lackawanna, NY
Lackawanna rent to own homesPopular Zip Codes in Lackawanna, NY
14218 rent to own homesBuying a Home in Lackawanna, NY
Lackawanna, NY is seeing rapid growth and Lackawanna, NY's' housing market remains optimal with an average home price that is -54% below the 2024 national average. Lackawanna, NY is part of Erie 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 Erie is 2.65% which is above the national average, which is 0.99%.
Median Home Price in Lackawanna, NY
Median Rent in Lackawanna, NY
Top 5 Reasons to Live in Lackawanna, New York
Reasonable home prices! If you thought homes weren't affordable in New York, think again: the median home cost in Lackawanna is just $82,000, which is almost $90,000 less than the national average. For the most reasonable home prices, look in the South Park/Kirby Avenue neighborhood, where you'll find single family homes from $52,000. You'll also find the Rite Aid Pharmacy and the Beef and Ale Restaurant nearby.
Excellent cost of living! Residents of Lackawanna enjoy a cost of living that is nearly 20 percent less than the national average. While utilities are slightly higher than average and transportation costs remain about the same, housing and grocery prices more than make up the difference. When you're running on empty, get your fridge stocked at Supervalu or Save-A-Lot.
Home vacancies are abundant! When you're searching for your new rent to own property, you'll have plenty of options, particularly if you search in the Hamburg Turnpike neighborhood, where you'll find Orlando Automotive and the Lackawanna Halal Market. Vacancies are at 16.7 percent, ensuring that you'll find your dream home for a decent price.
Proximity to Buffalo! Residents of Lackawanna only need to travel a short distance to reach the county seat of Erie County. Travel time is about ten minutes from Lackawanna to Buffalo, and residents can easily take advantage of all the amenities the larger city can provide. For those who'd rather keep it local, relax at Buffalo and Erie County Botanical Gardens or grab a drink at Cagneys Too.
Enjoy recreation options in Lackawanna! You don't have to travel to Buffalo for your daily dose of culture and fun. Lackawanna provides several options for rest and relaxation. A city-sponsored softball league convenes seasonally for some fun in the sun. If you'd rather stay indoors, catch an event at the Lackawanna Veterans Stadium or visit the beautiful Our Lady of Victory Basilica.