Rent to own Homes in Lebanon, OR
Today, Lebanon is a community of around 16,000 people that grew from a family wagon train which stopped and made a land claim. It's on the eastern edge of Oregon's bountiful agricultural treasure, the Willamette Valley, with the forested Cascade Mountains rising to the east of town. The name has a dual history -- the cedar trees whimsically reminded a founder of both the Cedars of Lebanon referenced in the Bible and the city of Lebanon, Tennessee.
Lebanon, OR is a great place for affordable rent-to-own homes! With a median household income of over $45,215 and a median rent of $1,026, the Lebanon, 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 Lebanon, 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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Rent to own Homes in Cities Near Lebanon, OR
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Lebanon, OR is seeing rapid growth and Lebanon, OR's' housing market remains optimal with an average home price that is -11% below the 2024 national average. Lebanon, OR is part of Linn 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 Linn is 1.05% which is above the national average, which is 0.99%.
Median Home Price in Lebanon, OR
Median Rent in Lebanon, OR
6 Reasons to Love Living in Lebanon, Oregon
Enjoy South Santiam River! The Santiam is one of Oregon's most scenic rivers, including the north, middle and south tributaries. Where the southern fork flows through Lebanon, the river slows and widens, making it perfect for a leisurely float on a hot summer day. Waterloo Park has boat ramps for floats and fishing boats as well.
Affordable homes! The median sales price of $162,350 in late 2014 is an 8.3% increase from the year before. That's a nice gain, and homes here should remain a good investment. Look for rent to own houses in neighborhoods like South Lebanon for a mix of rural properties and new construction. Downtown offers historic homes with established landscaping.
McDowell Creek Falls! It's a nice treat when you have a set of beautiful waterfalls just a few minutes out of town. The drive up takes you into the foothills of the Cascades and the hike to the falls isn't difficult. For more of a hiking challenge, go further into the mountains. Camping at Cascadia State Park is a good way to explore the mountains from the west side of Santiam Pass.
In town fun! While residents are only about 25 minutes away from Corvallis and 45 minutes north of Eugene, it's nice to have fun things to do in town. Try James Gang Pizza Factory for an incredible pizza or enjoy drinks and karaoke at Peacock Bar & Grill. Kuhn Cinema is a classic small-town movie house.
Housing choices! While most of the South Santiam shoreline is park ground or farm land, there are some nice homes with waterfront access. Find comfy bungalow-style homes near Century Park or West Oak Street. For recently built properties, look along S. Main Road.
Over a dozen parks! This is a small city that loves its park space. Nearly 80 acres spread across 15 parks testify to that. River Park and Gills Landing in the north part of town offer river fun. Weldwood Park features ball fields and Century Park has tennis and basketball courts.