Rent to own Homes in Altus, OK
Altus was founded as an agricultural community in 1886 and was first called Frazer. In the town's early days it was also often referred to as the Buttermilk Station because area cowboys would stop into the town for cold, fresh buttermilk. After the community was destroyed by a flood in 1891, it was relocated to higher ground and dubbed Altus. Today the town is home to several major wheat and cotton processing plants and the Altus Air Force Base.
Altus, OK is a great place for affordable rent-to-own homes! With a median household income of over $47,990 and a median rent of $732, the Altus, 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 Altus, 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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Altus, OK is seeing rapid growth and Altus, OK's' housing market remains optimal with an average home price that is -59% below the 2024 national average. Altus, OK is part of Jackson 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 Jackson is 0.64% which is below the national average, which is 0.99%.
Median Home Price in Altus, OK
Median Rent in Altus, OK
Top 4 Reasons to Live in Altus, OK
Ample homeownership and rental opportunities! The city of Altus is fairly evenly divided between rentals and owner-occupied residences. The area is comprised chiefly of three and four bedroom homes, and some homes are on rent to own programs. Several of the town's neighborhoods have experienced rapid home ownership growth such as the Centennial neighborhood which is within walking distance of the town's Community Center. The Capehart neighborhood sits one to two miles away from the town's library and BX/Commissary.
Outdoor adventure abounds! Community members often flock to Lake Altus-Lugert for boating, fishing, hiking, swimming and camping. The 9-hole municipal golf course of the Green of Altus is also open to the public. The course has a putting green, driving range, and an on-site pro shop.
History lives on in Altus! The Museum of Western Prairie in Altus features exhibits on how the pioneers staked their claim to property and settled the region of the Great Plains. There is a working windmill and a dugout homestead. The museum is home to a collection of over 35,000 items that depict life in the Old West. Those fascinated by dolls, should visit the Morgan Doll Museum in the town's center which has 5,000 antique and collectible dolls for public viewing. There are also numerous doll houses on display.
Climbing home appreciation rates! The town has been experiencing steadily rising home appreciation rates of approximately 18 percent per year which has bolstered the town's economy and gotten area increased attention. Residents of Altus love to celebrate holidays as well as their climbing real estate values. Each year the town hosts the 4th of July Celebration with a full fireworks display. During the holiday season, downtown Altus is the stage for the annual Christmas Parade. Community groups work together each year to create colorful, one-of-a-kind floats to kick off the holiday season at the parade event.