Rent to own Homes in Tonawanda, NY
Tonawanda is a small city on the banks of the historic Erie Canal. Residents here can enjoy nearby city life while still enjoying country living. Buffalo is only ten miles away but the tree-lined streets and open space of Tonawanda make it feel like a world away. Cute suburban neighborhoods such as Lincoln Park and Kenilworth have comfortable homes for rent, or rent to own, and still offer an easy drive into the city. Here are a few more good reasons to live in Tonawanda.
Tonawanda, NY is a great place for affordable rent-to-own homes! With a median household income of over $51,486 and a median rent of $697, the Tonawanda, 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 Tonawanda, 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 Tonawanda, NY Property Resources
Rent to own Homes in Cities Near Tonawanda, 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 Tonawanda, NY
No neighborhoods foundPopular Zip Codes in Tonawanda, NY
14151 rent to own homesBuying a Home in Tonawanda, NY
Tonawanda, NY is seeing rapid growth and Tonawanda, NY's' housing market remains optimal with an average home price that is -45% below the 2024 national average. Tonawanda, 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 Tonawanda, NY
Median Rent in Tonawanda, NY
6 Great Reasons to Live in Tonawanda, NY
Live in a 'Best Of' Town! Tonawanda is consistently touted as the 'Best Of' something! In 2010 it was featured on Business Week's list of the best places in the United States to raise your kids. Kenmore, a village in Tonawanda, was rated 'Best Of' western New York's communities by Business First.
Water, Water Everywhere! The Erie Canal on the north side of town was called the Eighth Wonder of the World when it was built in 1825. The waterway, which connects the Lake Erie and the Great Lakes to the Hudson River gave a major boost to the economy of the area and the United States. The Niagara River forms the western border of town which leads to Niagara Falls, only fourteen miles away.
A top ten neighborhood! Not only is Tonawanda a great place to live, the village of Kenmore was named by the American Planning Association as One of the Top Ten Great Neighborhoods in the United States. Since 1899, this historic village, which is part of Tonawanda, has provided locals with unique shops and restaurants like Amici's Italian and Star of India.
Home values are rising! Tonawanda seems to have weathered the economic storm, with home values rising 4.8 percent, in the last year. The town is home to almost 32,000 people, many of whom are enjoying watching their property investments grow. Neighborhoods such as Lincoln Park and Kenilworth are worth exploring for their convenient access to town.
High ownership and occupancy! When it comes to buying a home, these are two qualities you want to see in the community. Tonawanda is a stable and desirable town that boasts a 69.58 percent ownership rate and a vacancy rate of 4.14 percent. Outlying neighborhoods such as Brighton and Parkview are popular for their open space and proximity to water such as Tonawanda Creek.