Rent to own Homes in Springfield, OR
Wise investment! If you'd put money into Springfield mortgage-financed or rent to own houses a year ago, your investment would've gone up by almost 13%. Expect values to increase by a predicted 4.3% by next year. You can take advantage of this trend my house hunting in the North Springfield or Thurston areas.
Springfield, OR is a great place for affordable rent-to-own homes! With a median household income of over $49,938 and a median rent of $969, the Springfield, 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 Springfield, 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.
More Springfield, OR Property Resources
Rent to own Homes in Cities Near Springfield, OR
Neighborhoods in Springfield, OR
Glenwood - Springfield Junction rent to own homes Gateway rent to own homes Washburne Historic District rent to own homes Thurston rent to own homes Mohawk Boulevard rent to own homes North Springfield rent to own homes Q Street rent to own homes Downtown Springfield rent to own homes East Kelly Butte rent to own homes West Springfield rent to own homesBuying a Home in Springfield, OR
Springfield, OR is seeing rapid growth and Springfield, OR's' housing market remains not optimal with an average home price that is 4% above the 2024 national average. Springfield, OR is part of Lane 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 Lane is 0.86% which is below the national average, which is 0.99%.
Median Home Price in Springfield, OR
Median Rent in Springfield, OR
Top 14 Reasons to Live in Springfield
It goes back to 1852! The Washburne Historic District is listed on the National Register of Historic Places because of its post-Victorian vernacular architecture. If you're looking to buy within the district, contact the Washburne Neighborhood Association to find out about any restrictions or remodeling.
Paying lower than list! There's good news for those wanting to get into the property market. You're going to pay almost 7% less than asking. The median list price is $195,000 but the median sales price is $182,500. An agent from the Springfield Board of Realtors can find you some rent to own real estate, and you might want to ask for the availability on W. Centennial Blvd.
Nature on foot! Clearwater Lane is just one of several trails that put you in touch with the area's natural beauty. Its asphalt path allows hikers and cyclists to follow the Willamette River for 2.5 miles, offering views of local wildlife. The trail through Thurston Hills is unmarked but reaching the top of the larger hill gives wonderful views of Jasper Valley.
Bonanza for bargain hunters! If the asking price of rent to own homes seem out of reach, just wait. Over 30% of listings get a price cut. Over 24% of homes for sale eventually sell below list price. While looking for deals, you might want to look at properties on Main St. For good financing terms, check with the Oregon Community Credit Union.
Enjoying local fun! Eat pancakes, watch a movie, applaud the performers, or run to the river during the Springfield SummerFair. Considered the "oldest and coldest" parade in Oregon, the Springfield Christmas Parade has been plying its route since 1953 and features floats, marching bands, and local organizations.
Good values in homes for sale! After bottoming out in early 2012, the value of Springfield homes is now at a median $171,200. This is lower than the median $202,500 for Lane County, in which the city is located. Comparable values in the city include $227,400 for Eugene, $212,000 for Junction City, and $157,500 for Cottage Grove.
Expanding the mind! The free Springfield Museum highlights the community with permanent and traveling historical displays. Its Garden Tour fundraiser brings visitors to some of the best plots of green in the city. If you'd rather make beautiful things as well as admire them, take lessons at the Emerald Art Center.
Better than rent! Median rents have gone up by almost 4% in the past year to $1,074. Given that rents will continue to go up, isn't it wiser to put money into something you can own? KeyBank, Wells Fargo, and other local branches of well-known banks have mortgage departments you should call.
Buying almost anything! One-stop shopping for what you need happens at Gateway Mall, which also has 29 theater screens and over 11 places to dine. For individually-owned boutiques, collectible stores, or antique malls, try Main Street.
Excellent state values! The median price per square foot for Springfield home listings is $150 and for sales, it's $146. This is lower than for the entire state of Oregon which runs $150 per square for median list and $146 for median sales. You can find some good properties on Mohawk and Marcola Rd.
A haven for readers! The city's reading community centers around the Springfield Public Library, which sponsors reading, film, and poetry events. Trade in your used material for something different at the Thurston Book Exchange, which also offers audio books.
Best for single-family properties! If you don't like sharing walls with neighbors, you'll fulfill your dream in Springfield. Over 91% of city residences consist of single-family houses. The typical home has 1,344 square feet and was built in 1972. You can find some of these houses on Hayden Bridge Rd. and McKenzie Bridge neighborhoods.
Feeding the soul! The Springfield Arts Council keeps culture alive by working with local organizations to schedule events. It features classical soloists, duets and trios in the Sanctuary Series at High Street United Methodist Church.