Rent to own Homes in Medford, NY
The hamlet of Medford is a small community near the larger town of Brookhaven. Medford's roots extend back to the 1800s, when the Long Island Rail Road set up Medford Station as a rural outpost. A post office followed, and the hamlet eventually grew into a residential area. Today, the hamlet is a bustling place with several major roads, including Horseblock Road and the Long Island Expressway.
Medford, NY is a great place for affordable rent-to-own homes! With a median household income of over $99,673 and a median rent of $2,093, the Medford, 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 Medford, 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 Medford, NY Property Resources
Rent to own Homes in Cities Near Medford, NY
- Aquebogue
- Baiting Hollow
- Bayport
- Belle Terre
- Bellport
- Brookhaven
- Calverton
- Center Moriches
- East Moriches
- East Patchogue
- Eastport
- East Quogue
- East Shoreham
- Farmingville
- Fire Island
- Flanders
- Gordon Heights
- Hampton Bays
- Hauppauge
- Holbrook
- Islandia
- Islip
- Jamesport
- Lake Ronkonkoma
- Laurel
- Manorville
- Mastic
- Mastic Beach
- Mattituck
- Medford
- Middle Island
- Miller Place
- Moriches
- Mount Sinai
- Northampton
- North Bellport
- Patchogue
- Port Jefferson Station
- Ridge
- Shirley
- Shoreham
- Smithtown
- Sound Beach
- Stony Brook
- Stony Brook University
- Terryville
- Village of the Branch
- Wading River
- Westhampton
- Westhampton Beach
Neighborhoods in Medford, NY
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11763 rent to own homesBuying a Home in Medford, NY
Medford, NY is seeing rapid growth and Medford, NY's' housing market remains not optimal with an average home price that is 54% above the 2024 national average. Medford, NY is part of Suffolk 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 Suffolk is 1.7% which is above the national average, which is 0.99%.
Median Home Price in Medford, NY
Median Rent in Medford, NY
Top 4 Reasons to Live in Medford, NY
Rising home sale prices! Although this might not sound ideal for buyers, it indicates that the housing market is healthy in Suffolk County. The average home sale price sits around $263,500. When you buy a house in Medford, you'll be making a solid investment that will pay off in the future. If you're wondering where to look, concentrate on the John Roe Smith Ave and Swisstone St neighborhood or the Route 112 and Railroad Ave neighborhood, where appreciation rates on homes are the highest.
Take advantage of rental options! It's true that there aren't endless rental options here, but they do exist. Roughly 15 percent of homes in Medford are renter-occupied. Whether you prefer a rent to own property, an apartment or a rental house, wait for available listings to pop up, and then check them out as soon as you can. Try the Town Center neighborhood or the Horseblock Rd and N. Ocean Ave neighborhood for fantastic rental properties.
Great dining around town! Medford offers a variety of dining establishments, whether you're in the mood for fine dining or fast food. Head to J&R's Steakhouse for delicious food and a friendly atmosphere. Try the 32-ounce porterhouse, or go lighter with the 7-ounce filet mignon. For pizza and pasta, check out Bianca Luna. Order one of the specialty pizzas, a plate of lasagna or a hero. Other popular restaurants include Lucky 13 Cafe and Long Island Seafood.
Green space galore! For a small hamlet, Medford still offers plenty of green areas to enjoy. Granny Road Park, Twelve Pines Park and Eagle Estates Park are all within city borders. Visit one of these neighborhood parks to take a stroll and enjoy some fresh air, or have a picnic during summer. Keep in mind that there are larger green areas not far from Medford. If you want a place to go running or hiking, head over to Connetquot River State Park.