Rent to own Homes in McMinnville, OR
This charming Willamette Valley community is home to one of the region's most interesting downtown districts. It's been an integral part of town for decades. The city is currently home to just over 32,000 people and is the county seat for Yamhill County. Town founder William Newby named McMinnville after his home in Tennessee. Photographs of a purported UFO above town in 1950 led to a subculture that still exists among area UFO fans.
McMinnville, OR is a great place for affordable rent-to-own homes! With a median household income of over $53,628 and a median rent of $1,010, the McMinnville, 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 McMinnville, 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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McMinnville, OR is seeing rapid growth and McMinnville, OR's' housing market remains not optimal with an average home price that is 30% above the 2024 national average. McMinnville, OR is part of Yamhill 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 Yamhill is 0.89% which is below the national average, which is 0.99%.
Median Home Price in McMinnville, OR
Median Rent in McMinnville, OR
6 Great Reasons to Love Living in McMinnville, Oregon
Evergreen Aviation and Space Museum! This marvelous museum is home to numerous aircrafts from around the world, Howard Hughes' all-wood giant flying boat the Spruce Goose being the most famous. Just across the grass a bit is Wings & Waves Waterpark, where water slides actually come out of a 747.
Check out the newer homes! The median home sales prices for McMinnville near the end of 2014 stood at $205,000, down 6% from the year before. That's still a buyers' market and people looking for rent to own houses can find opportunities here. There are a lot of newer homes on the north side along NW Baker Creek Road and near Michelbrook Country Club.
Oregon wine country! One of the best wine regions anywhere starts north of here and runs through the valley to the south, with McMinnville virtually in the center. Eyrie Vineyards has a tasting room in town. To the southwest, the McMinnville AVA (American Viticultural Area) has several fine wineries awaiting your exploration.
UFO Festival and Parade! Officially known as the UFO Alien Costume and Parade Festival, it's one of the unique small-town parties anywhere. Things start off with Landing Party the night before the Abduction Dash, a one-mile run where you have to avoid obstacles. Another fun annual event is the McMinnville Short Film Festival.
Stroll through charming downtown! The area extending along and near 3rd St. is a shining example of an historic and vibrant small downtown. Quaint shops, charming eateries, a community theater and more are here. Grab some food at 3rd St. Pizza and watch a movie at Moonlight Theater. When that lets out, enjoy a craft brew at Golden Valley Brewery and Restaurant.
Variety of housing options! In addition to the newer construction mentioned, there are beautifully maintained historic properties downtown and near Linfield College. In the southwest part of the community there are established tracts with nice, mid-range homes. Look near 99W behind the shopping centers for nice apartment complexes.