Rent to own Homes in Klamath Falls, OR
Klamath Falls, OR has been attracting residents for more than 4,000 years. Many are drawn to the area's natural beauty and the abundant outdoor recreation opportunities that exist within and around the city. Klamath Falls' historic district is located above geothermal springs, and many homes and businesses use the natural source of energy for heating during the city's snowy winters.
Klamath Falls, OR is a great place for affordable rent-to-own homes! With a median household income of over $40,783 and a median rent of $766, the Klamath Falls, 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 Klamath Falls, 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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Klamath Falls, OR is seeing rapid growth and Klamath Falls, OR's' housing market remains optimal with an average home price that is -17% below the 2024 national average. Klamath Falls, OR is part of Klamath 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 Klamath is 0.64% which is below the national average, which is 0.99%.
Median Home Price in Klamath Falls, OR
Median Rent in Klamath Falls, OR
Top Five Reasons to Live in Klamath Falls, OR
Great Outdoor Recreation! At Crater Lake National Park, visitors can take in spectacular scenery. The park is centered around Crater Lake, which is famed for its bright blue colors. Each year, visitors come to the park for the mile-high Crater Lake Marathon. Just to the west of the city, Mountain Lakes Wilderness Areas offers outstanding opportunities for backpacking among pristine mountain lakes.
An Active Community! Whether you love golfing, hiking or jogging, you'll enjoy the many opportunities that Klamath Falls offers. The Running Y Ranch has a golf course that was designed by Arnold Palmer as well as an ice skating arena and trails for horseback riding. The site overlooks the Upper Klamath Lake, the biggest natural lake in the area, and is just a short distance from Moore Park. For those who enjoy canoeing, there's a trail that winds through the Rocky Point Wildlife Refuge.
Rising Home Prices! Home prices in and around Klamath Falls are low, and it's a great time to buy or rent to own. The median house price is only $140,200, which shows a 7 percent increase between 2013 and 2014. The median rental price is $550 outside the city or in the Klamath Falls Metro area. While Algoma and Olene are the city's priciest neighborhoods, residents who are looking for an excellent value may want to consider Lake of the Woods or Pelican City.
Fresh Food and Great Dining! During the summer and fall, residents and visitors can spend some time at the Klamath Falls Farmers Market, The open air market has local growers, artisans and producers. The market is held on Ninth Street and runs from Main to Klamath Avenue. For those who enjoy freshly baked bread and pastries, the Green Blade Bakery offers scrumptious treats.
Low Property Taxes! Klamath Falls homeowners pay some of the lowest property taxes in the state, with a median annual cost of $1,083. This and the city's 0 percent sales tax make the community an inviting space for current and prospective residents. The city's economy is growing, and Falcon Heights and Gatewood are convenient options for buyers looking for a residence that is close to Kingsley Field Air National Guard Base.