Rent to own Homes in Morristown, TN
Golf, lakes, The Smoky Mountains, Knoxville, Cherokee Country, wilderness trails, cultural events, history, a frontier spirit and a plan for the future -- it all comes together in Morristown. And its residents love it! The city was founded as an agricultural community in 1855 by settlers moving to the region from Virginia, South Carolina and Pennsylvania. Today a thriving regional manufacturing and business hub, it is also the center of a popular recreational and tourist area.
Morristown, TN is a great place for affordable rent-to-own homes! With a median household income of over $33,511 and a median rent of $714, the Morristown, TN 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 Morristown, TN. 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 Morristown, TN Property Resources
Rent to own Homes in Cities Near Morristown, TN
- Baneberry
- Bean Station
- Bulls Gap
- Bybee
- Cosby
- Dandridge
- Del Rio
- Eidson
- Fairgarden
- Greeneville
- Hartford
- Jefferson City
- Kodak
- Midway
- Mohawk
- Mooresburg
- Morristown
- Mosheim
- New Market
- Newport
- Parrottsville
- Rogersville
- Russellville
- Rutledge
- Sneedville
- Strawberry Plains
- Talbott
- Thorn Hill
- Washburn
- White Pine
- Whitesburg
Neighborhoods in Morristown, TN
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Morristown, TN is seeing rapid growth and Morristown, TN's' housing market remains optimal with an average home price that is -45% below the 2024 national average. Morristown, TN is part of Hamblen 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 Hamblen is 0.54% which is below the national average, which is 0.99%.
Median Home Price in Morristown, TN
Median Rent in Morristown, TN
Top 5 Reasons to Move to Morristown, TN
Central Location: Morristown has a population of about 28,000, but is located in the center of a region with a quarter of a million people, meaning that you can easily find just about anything you want. Cherokee Lake is nearby for fishing and boating. Panther Creek State Park offers a chance to get back to nature and there are lots of hiking, biking and motorcycle trails in the vicinity.
Good for Renters: Approximately 41 percent of the homes in Morristown are renter-occupied, meaning that it is a good place to look for rent to own houses. Local rents are lower, on average, than in comparable cities elsewhere, allowing residents to take full advantage of the local lifestyle. If you're looking for a rental house, check out Rosa Circle or Fowler Drive. If an apartment is more your speed, check out the neighborhood around Maple Avenue.
Positive Growth Spurt! This is a popular tourist area and the center of what is known as the Lakeway Region, but an increasing number of people are coming to the area to stay! Median home prices are 4 percent higher than they were last year and prices are expected to continue on an upward trend. Tourists and locals alike love the lakes and the annual celebrations, including the Strawberry Festival in May and August's Gig It! Music Festival.
The Past Lives Here: History buffs will find a lot to love in Morristown, including the historic home that housed General James Longstreet during the winter of 1863-64. Restored as a museum, it serves as a prime attraction on the Civil War Tour in eastern Tennessee. In the fall, a Civil War Re-enactment attracts throngs of tourists. Downtown's Skymart, an innovative solution to a flooding problem when it was installed in the mid-1960s fell into disrepair over the decades. It has now been repurposed and made a part of the city's greenway master plan, viewed as a way to revitalize the downtown area.
Finding Food! With the dubious distinction of having one of the highest fast food per capita ratios in the country, you will never go hungry in Morristown. But, if you're looking for finer fare, try Hillbilly's Cabin for down-home Tennessee country food. You won't be disappointed if you stick to local favorites like catfish and cornbread! For an experience that feels like being invited to dinner at a friend's home, don't miss Hillside Grill. In fact, The Angelos family, which has operated the restaurant since 1979, delights in treating customers like guests!