Rent to own Homes in Newark, OH
Get more for your money: The cost of living in Newark is just 87% of the national average. Many facets make up this low cost of living, including housing, food and utilities. For some great affordable places to live, check out properties on Myrtle Avenue and Wynnewood Drive.
Newark, OH is a great place for affordable rent-to-own homes! With a median household income of over $48,609 and a median rent of $795, the Newark, 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 Newark, 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 Newark, OH Property Resources
Rent to own Homes in Cities Near Newark, OH
- Alexandria
- Apple Valley
- Baltimore
- Beechwood Trails
- Bladensburg
- Bremen
- Brownsville
- Croton
- Dresden
- East Fultonham
- Etna
- Fairfield Beach
- Frazeysburg
- Fultonham
- Gambier
- Glenford
- Granville
- Granville South
- Gratiot
- Harbor Hills
- Hartford
- Hartford (Croton)
- Heath
- Hopewell
- Howard
- Jacksontown
- Jersey
- Johnstown
- Junction City
- Kirkersville
- Lancaster
- Marne
- Martinsburg
- Millersport
- Mount Perry
- Mount Vernon
- Nashport
- New Albany
- Newark
- Pataskala
- Pleasantville
- Rushville
- Somerset
- St. Louisville
- Thornport
- Thornville
- Thurston
- Walhonding
- West Rushville
- Zanesville
Neighborhoods in Newark, OH
Southeast Newark rent to own homes The Village Of Deer Run rent to own homes Berry View rent to own homes Sherwood Downs rent to own homes Park Trails rent to own homes Yorkshire rent to own homes The Ohio State University at Newark rent to own homes Downtown Newark rent to own homes Westgate Center East rent to own homes Downtown South Newark rent to own homesPopular Zip Codes in Newark, OH
43058 rent to own homesBuying a Home in Newark, OH
Newark, OH is seeing rapid growth and Newark, OH's' housing market remains optimal with an average home price that is -40% below the 2024 national average. Newark, OH is part of Licking 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 Licking is 1.22% which is above the national average, which is 0.99%.
Median Home Price in Newark, OH
Median Rent in Newark, OH
Top 10 Reasons to Move to Newark
Close to the Ohio capitol: Though it is a city in a rural setting, Newark is just forty minutes to Columbus, Ohio, a large and very urban Metropolitan Statistical Area of 2.3 million people, with all the attendant job opportunities, shopping and entertainment large cities provide. When you prefer to stay in town, hit the Factory Outlet Mall or the Indian Mound Mall.
Bargain housing: The median home price in Newark is only $85,000, and there has been moderate appreciation of about 6% in the last decade. There are also lots of rent to own bargain possibilities in town. Find great properties on Hammond Court and Hunters Drive.
Ancient history: Within the city of Newark are the preserved Newark Earthworks. These earthen enclosures were built about 2,000 years ago by the indigenous people who lived in the area, the Hopewell Indians. This includes the Great Circle, the Wright Earthworks and Octagon Earthworks. These ancient Indian mounds are preserved as a state park and are National Historic Landmarks.
Low property taxes: Newark is the county seat of Licking County, which has a lower-than-average property tax rate. Bargain house prices and low property taxes add up to inexpensive rent to own homes on streets such as Blue Jay Road and Eddy Street.
Intelligent workforce: Newark has a high concentration of people that work in computers, science and math at companies such as AdvantaClean Environmental and Kindred Healthcare.
Lots of home choices: The housing stock is highly varied. About 28% of the homes in Newark were built before 1930, and there has been a steady building rate of 8 to 13% per decade since then. Rent to own houses are available, and 80% of homes in town are priced at $150,000 or below. Wild Turkey Drive and Homewood Avenue both boast exquisite homes.
Rental choices: Rental homes in Newark account for 39% of the housing units, and another 10% are vacant. About 30% of the housing available is apartments and complexes, 3% are condos or row houses, 1% are mobile homes and 65% are single-family homes. Find a unit to suit your style at McMillen Woods Apartments or Kingswood Court Apartments.
Basket case: What would you think if you saw a huge basket on the side of the road? Locals know that you are facing the Longaberger Basket Company's building, and yes, it looks like a big Longaberger picnic basket, including basket handles. Boeing and Bayer also call Newark home.
Fun to be had: The Coco Key Water Resort is an indoor water park where the temperature is always tropical. The Longaberger Homestead is a beautiful Victorian home complete with a restaurant and a Longaberger store. The Midland is a nice restored theater that plays Christmas classics during the holidays and hosts concerts all year long.