Rent to own Homes in Oak Ridge, TN
The city of Oak Ridge is located in the eastern part of Tennessee, about 22 miles northwest of the City of Knoxville. The city is located in both Andersen County and Roane County, as is bordered by the Clinch River, Watt's Bar and Melton Hill Lake. Founded in 1942 by the United States Army Corp of Engineers as a temporary city, Oak Ridge was used to develop the technology that would eventually lead to the end of WWII. Oak Ridge continued to operate after WWII and became an incorporated city in 1959.
Oak Ridge, TN is a great place for affordable rent-to-own homes! With a median household income of over $55,869 and a median rent of $868, the Oak Ridge, 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 Oak Ridge, 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 Oak Ridge, TN Property Resources
Rent to own Homes in Cities Near Oak Ridge, TN
- Alcoa
- Andersonville
- Briceville
- Clinton
- Coalfield
- Eagleton Village
- Farragut
- Friendsville
- Greenback
- Harriman
- Heiskell
- Kahite
- Karns
- Kingston
- Knoxville
- Lake City
- Lenoir City
- Loudon
- Louisville
- Madisonville
- Maryville
- Midtown
- Norris
- Oak Ridge
- Oliver Springs
- Petros
- Philadelphia
- Powell
- Rarity Bay
- Rockford
- Rocky Top
- Seymour
- Tallassee
- Tellico Village
- Vonore
- Wildwood
Neighborhoods in Oak Ridge, TN
Oak Ridge rent to own homesBuying a Home in Oak Ridge, TN
Oak Ridge, TN is seeing rapid growth and Oak Ridge, TN's' housing market remains optimal with an average home price that is -27% below the 2024 national average. Oak Ridge, TN is part of Anderson 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 Anderson is 0.83% which is below the national average, which is 0.99%.
Median Home Price in Oak Ridge, TN
Median Rent in Oak Ridge, TN
7 Reasons to Come Home to the Mountains in Oak Ridge, TN
Take to the mountains! Oak Ridge is nestled in the gateway of the Great Smoky Mountains. Just 67 miles from Gatlinburg and the Great Smoky Mountains National Park. Oak Ridge has its own fair share of mountain views and aerial vistas -- Try Big Turtle Park or Cedar Hill Greenway to get your fill of nature without leaving town! And don't forget incredible fall-foliage show that happens each year in the area, where thousands of visitors descend on the Smoky Mountains to take in Mother Nature as she dresses herself in autumn finery.
The heart of the great outdoors! Oak Ridge is a nature-lover's paradise. With 16 parks located throughout the city, walkers, hikers, bike riders and outdoor enthusiasts of all shapes and sizes enjoy a variety of options. In addition, Oak Ridge has many specialty parks, including Carl Yearwood Disc Golf Course, Groves Park Disc Golf Course, and Haw Ridge Park, a 780-acre park complete with walking, running, bicycle and horseback riding trails.
The secret's out! Oakridge residents and visitors enjoy the Secret City Festival each year in June. For sixteen consecutive years, Oak Ridge folks and their guests take part in concerts, WWII Living History attractions, arts and crafts, regional vendors and a TN Creates art show.
Row your boat in Oakridge! Oakridge is home to the Oak Ridge Rowing Association, founded in 1978. The organization's ongoing 35-year mission is to promote the sport of rowing in East Tennessee. The Oak Ridge Rowing Association sponsors several juniors and Masters Teams and is host to Championship Rowing Regattas, as well as spring rowing training camps, all located off of Melton Lake Drive.
Oak Ridge is electric! The United States Department of Energy facilities make their home in Oak Ridge, offering employment opportunities and public services. The American Museum of Science and Energy also makes its home in Oak Ridge. Along with the Department of Energy, there is also a national security complex and a national laboratory.
Oak Ridge home owners love their town! More than 58 percent of homes in Oak Ridge, Tennessee are owner-occupied. Thirty-one percent of homes are rental homes or rent to own -- you might find deals near City Center or off of Blair Road.
A buyer's and seller's market! The median list price for property for sale in Oak Ridge is $186,000. The median days on the market for listings is 163 days, and only 7.7 percent of these are foreclosures and short sales. Look for desirable homes in Scarborough or Oak Hill Estates.