Rent to own Homes in Ada, OK
Ada, Oklahoma, is a city in Pontotoc County that spans almost 16 square miles of land. Named after one of its earliest residents, Ada began life as a small outpost with a single store. In 1901, it was fully incorporated as a city and experienced growth with the coming of the San Francisco and St. Louis railway lines. In the early 1900s, Ada's main industries were cement and glass, but it has grown to include many other avenues of commerce.
Ada, OK is a great place for affordable rent-to-own homes! With a median household income of over $41,070 and a median rent of $699, the Ada, OK 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 Ada, OK. 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 Ada, OK
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Ada, OK is seeing rapid growth and Ada, OK's' housing market remains optimal with an average home price that is -49% below the 2024 national average. Ada, OK is part of Pontotoc 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 Pontotoc is 0.53% which is below the national average, which is 0.99%.
Median Home Price in Ada, OK
Median Rent in Ada, OK
Top 5 Reasons to Live in Ada, Oklahoma
Experience the arts! Visit the Hallie Brown Ford Fine Arts Center, located on the East Central University campus, to take in both the indoor art gallery and the outdoor sculpture garden. The McSwain Theatre, a 1920s venue that was fully restored in 2009, hosts live entertainment events all year long.
Explore the vibrant Main Street culture! As it has grown, Ada has retained a small-town feel. Enjoy many community-building events downtown, such as the Ada Farmer's Market on 12th Street and Townsend. Held from April through December, it is a friendly place to fill a basket with goodies. Ada also hosts Cruisin' Main, a summer event that features hot rods, cool treats and an old-time film at the McSwain.
Beautiful contemporary housing! Most homes in Ada were built post-1950, so finding a modern neighborhood to call home will not be a challenge. On average, homes appreciate almost three percent per year in Ada, and this is very good news for buyers. Try the area around Homer-Francis Road and Route 1 for proximity to the Rolling Hills Hospital. Search closer to North Country Club Road for homes that are a short walk away from the Arlington Shopping Center and other local shops.
Sports fans are welcome! Take in the views while golfing at the Lakewood Golf Course -- don't forget to bring snacks. If something a little more speedy fits the bill, visit the Oklahoma Sports Park to watch a dirt track race or two on a Saturday night.
There's something for everyone here! Ada boasts a wide variety of properties. From single family rent to own homes to three-bedroom apartment communities, Ada has it all. Ada residents are evenly split between renters and owners. Looking to rent? Try The Linden Apartments. Located to the west of the city center, these apartment homes are a peaceful respite from the bustle of Main Street. Single-family homes that are closer to the center of town and local eateries -- like Braum's -- can be found on East Beverly Street.