Rent to own Homes in Lakewood, OH
A desirable location! Cleveland's Scene Magazine named Lakewood the Best Suburb in Cleveland in 2011, and Travel + Leisure Magazine named it one of the top 10 Suburbs in the USA. With its location 6 miles outside of Cleveland, it's obvious why people want to rent to own houses there, whether they choose to live in Birdtown, Clifton Park or one of Lakewood's other neighborhoods.
Lakewood, OH is a great place for affordable rent-to-own homes! With a median household income of over $54,487 and a median rent of $813, the Lakewood, OH 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 Lakewood, OH. 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 Lakewood, OH Property Resources
Rent to own Homes in Cities Near Lakewood, OH
- Bay Village
- Bedford Heights
- Berea
- Boston Heights
- Broadview Heights
- Brooklyn
- Columbia Station
- Cuyahoga Falls
- Elyria
- Euclid
- Fairlawn
- Glenwillow
- Grafton
- Highland Heights
- Hudson
- Independence
- Lakewood
- Linndale
- Litchfield
- Lorain
- Lyndhurst
- Macedonia
- Maple Heights
- Medina
- Middleburg Heights
- Montrose-Ghent
- Moreland Hills
- North Olmsted
- North Ridgeville
- Norton
- Olmsted Falls
- Orange
- Parma
- Parma Heights
- Peninsula
- Pigeon Creek
- Richfield
- Richmond Heights
- Rocky River
- Shaker Heights
- Sharon Center
- Sheffield
- Sheffield Lake
- Solon
- South Euclid
- Twinsburg Heights
- University Heights
- Valley City
- Westlake
- Woodmere
Neighborhoods in Lakewood, OH
No neighborhoods foundPopular Zip Codes in Lakewood, OH
44107 rent to own homesBuying a Home in Lakewood, OH
Lakewood, OH is seeing rapid growth and Lakewood, OH's' housing market remains optimal with an average home price that is -21% below the 2024 national average. Lakewood, OH is part of Cuyahoga 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 Cuyahoga is 1.93% which is above the national average, which is 0.99%.
Median Home Price in Lakewood, OH
Median Rent in Lakewood, OH
Top 11 Reasons to Live in Lakewood
A renter's paradise! Lakewood was listed No. 83 on city-data.com's list of "Top 100 cities with highest percentage of renters." With renters making up 50.24% of the population, it's clearly a great place to find a rental home or a place that would be great to rent to own. To stay close to the action, choose a home in The Edge or the Gold Coast communities.
Outdoor excitement! Lakewood Park is one of the largest lakefront parks in Ohio, and more than 150 acres of parks exist within the city, including parts of the Rocky River Reservation of the Cleveland MetroParks. The Lakewood Dog Park offers off-leash fun for furry friends.
Nice-sized vacancy rate! With a vacancy rate of 11.3% in the community, there are plenty of places to find a home in Lakewood. One such neighborhood includes the Gold Coast, which features high rise apartments and condominiums along the coast of Lake Erie, and offers a lovely view of downtown Cleveland. It won't be a problem to find a rent to own home in the city.
Shopping! Median rent is an affordable $605 per month. That will leave you more money to spend at boutiques like Turnstyle or Mellow Yellow.
Alternative transportation is valued! Lakewood is a city with walkability -- it was recently named the Most Walkable City in Ohio. The community is also on the Cleveland Regional Transit Authority (RTA) bus routes, with stops on Riverside Drive/West Clifton Boulevard, and has a bicycling lane to encourage alternative transportation.
Home prices are up! When it comes time to put up your house for sale, Lakewood is in a great location to get the most for it, with a 2-5 year price gain of 1.43%. Don't be surprised if you never want to move from such great neighborhoods like West End or Rockport Square.
Arts and culture for everyone! The Beck Center for the Arts is the largest cultural center in Northeast Ohio, with offerings from plays, concerts and art shows. Galleries such as Breakneck Gallery and the Pop Shop Gallery are popular hangouts for the artistic crowd. The Lakewood Civic Auditorium is a popular concert venue for both local and national acts.
Eat and drink well! Lakewood has some outstanding restaurants and bars, including Melt Bar & Grilled, which features incredible gourmet grilled cheese sandwiches, and has been featured on national television shows and magazines. Aladdin's Eatery offers Mediterranean fare, as well as varied choices for vegetarians, which is a plus for the city with the highest concentration of vegetarians and vegans in Northeast Ohio.
Everything old is new again! Vintage clothing shops are everywhere in and around Lakewood. Future No Future and the enormous Chelsea's are among the best.
Everybody lives there! Okay, not everybody, but it is the third largest city in Cuyahoga County, and its population density is the highest of any city in Ohio. Find your home along Clifton Boulevard or Madison Avenue.