Rent to own Homes in New Franklin, OH
Located ten miles south of Akron, New Franklin is a new city with a long history, dating back to the 1800s. Early European settlers gravitated towards New Franklin because of the area's fertile soil and abundant water supply, making it the perfect place to build orchards and a community. Today, although the great outdoors still holds its place in this city's attraction, the city's positive future outlook is what keeps residents rooted here.
New Franklin, OH is a great place for affordable rent-to-own homes! With a median household income of over $75,807 and a median rent of $929, the New Franklin, 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 New Franklin, 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.
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Rent to own Homes in Cities Near New Franklin, OH
- Akron
- Atwater
- Aurora
- Barberton
- Bedford Heights
- Bentleyville
- Boston Heights
- Broadview Heights
- Canton
- Clinton
- Cuyahoga Falls
- Doylestown
- East Canton
- Fairlawn
- Glenwillow
- Green
- Greentown
- Hudson
- Independence
- Lakemore
- Limaville
- Louisville
- Mantua
- Maple Heights
- Marlboro
- Marshallville
- Massillon
- Medina
- Middlebranch
- Mogadore
- Munroe Falls
- Navarre
- New Franklin
- North Industry
- Norton
- Orrville
- Portage Lakes
- Reedurban
- Reminderville
- Richville
- Sawyerwood
- Sharon Center
- Solon
- Sterling
- Stow
- Streetsboro
- Suffield
- Sugar Bush Knolls
- Twinsburg Heights
- Uniontown
Neighborhoods in New Franklin, OH
New Franklin rent to own homesPopular Zip Codes in New Franklin, OH
44216 rent to own homesBuying a Home in New Franklin, OH
New Franklin, OH is seeing rapid growth and New Franklin, OH's' housing market remains optimal with an average home price that is -28% below the 2024 national average. New Franklin, OH is part of Summit 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 Summit is 1.53% which is above the national average, which is 0.99%.
Median Home Price in New Franklin, OH
Median Rent in New Franklin, OH
Top 6 Reasons to Live in New Franklin, OH
Robust economy! Due to its proximity to Akron, New Franklin enjoys economic progress with a number of Fortune 1000 company headquarters nearby. Because of this, the city reports a future job growth that's higher than the national average. Top employers in this area include Goodyear, FirstEnergy, and Diebold.
Affordable housing rental rate! Renters in this city rejoice over the fact that they're enjoying a lower rental rate compared to the national average. Neighborhoods along Nimisila Road and Yager Road have many houses for rent with affordable rates.
Lots of green spaces! This is the one place where economic progress is not pursued at the expense of Mother Nature. The city has lots of verdant lands and parks, including Lakeside Park, Maple Grove Park, and Miracle Park Nature Trail. The Franklin Park Civic Center, otherwise known as the Tudor House, is also a must-visit attraction in the city.
Spacious homes! Three-bedroom houses make up more than half of residential real estate properties in this area of Ohio. Home buyers looking for rent to own deals on larger homes will find many options in the neighborhoods along Jet Street and Overton Drive.
Lots of outdoor activities! If you're someone who likes to go on outdoor adventures, the Portage Lakes State Park will not disappoint, with its hosts of outdoor activities. You can go fishing or swimming in the lake or camping and hiking in the park's designated areas. You can also pedal your way through New Franklin's scenic areas via the Ohio & Erie Canal Towpath Trail.
Diners and restaurants! You don't have to go far to get a mouth-watering meal. There are many restaurants, cafes, pizza parlors, and diners in this city ready to feed you. Popular dining joints in New Franklin include Howie's on the Lake and Giuseppe's Pizza.