Rent to own Homes in Four Corners, OR
Named after the intersection of State Street and Lancaster Drive, Four Corners is located just outside the city limits of Salem and has a population of 14,000 residents. Newcomers to the city will love the quaint and quiet charm of Four Corners and the benefit of being a short drive to the activities, dining and shopping available in Salem. The climate in Four Corners is characterized by warm summers with temperatures that almost never exceed 70 degrees, and mild winters.
Four Corners, OR is a great place for affordable rent-to-own homes! With a median household income of over $55,928 and a median rent of $1,104, the Four Corners, OR 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 Four Corners, OR. 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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Four Corners, OR is seeing rapid growth and Four Corners, OR's' housing market remains optimal with an average home price that is -5% below the 2024 national average. Four Corners, OR is part of Marion 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 Marion is 1% which is above the national average, which is 0.99%.
Median Home Price in Four Corners, OR
Median Rent in Four Corners, OR
5 Reasons to Live in Four Corners, OR
Rapidly increasing home values! Like any investment, a person shopping for a home wants to buy a property that will increase in value. If you're looking to buy in Four Corners, you will be in luck, because home values have risen nearly 10 percent over the last year and are projected to grow 5.9 percent in 2015. With the median home value currently at $142,900, newcomers to the area should look to the neighborhoods of Lancaster Drive and State Street for the best deals.
Affordable rent! There a high vacancy rate for rental properties in Four Corners, and the median rent is lower in Four Corners ($850) than the Salem Metro area ($895). Residents who are new to the city may find that it is in their best interest to look at a rent to own home before making the decision to buy. Neighborhoods like Carolina Avenue and Arabian Avenue offer the best bang for the buck.
Beautiful parks! Take advantage of the great weather in Four Corners that features sun nearly year round, with temperatures that rarely exceed 75 degrees and almost never fall below 50. Head to the Santana Village Park for baseball on one of the three outdoor fields, or play basketball at any of the numerous courts. You can also go for a long and challenging hike in the Willamette Mission State Park.
Shopping options! Located just minutes from the Lancaster Mall, you'll never be more than just a short drive away from stores like Macy's, Sports Authority and Target. Located along the I-95 E are numerous stores like Toys R Us and Dick's Sporting Goods.
Delicious cuisine! Take a culinary trip around the world with a stop at the award-winning Aiberto's Mexican Restaurant serving up traditional Mexican burritos, or head to the Thai Beer & Restaurant for an Asian influenced meal.