Rent to own Homes in Plainview, TX
Plainview has a dynamic and interesting history, first put on the map for being used as the fictional town of "Rustwater" in a 1992 Steve Martin movie. The downtown water tower still reads "Rustwater Bengals," and the town of 20,000 -- located on the Texas high plains between Amarillo and Lubbock -- still chuckles about the confusion it causes. Plainview also has a rich history of cattle and agriculture, and a trail of painted cows standing guard throughout the city is a major attraction.
Plainview, TX is a great place for affordable rent-to-own homes! With a median household income of over $45,671 and a median rent of $655, the Plainview, TX 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 Plainview, TX. 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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Plainview, TX is seeing rapid growth and Plainview, TX's' housing market remains optimal with an average home price that is -61% below the 2024 national average. Plainview, TX is part of Hale 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 Hale is 1.58% which is above the national average, which is 0.99%.
Median Home Price in Plainview, TX
Median Rent in Plainview, TX
Follow the Cows in Plainview, Texas
From nomads to cattlemen: Nomads and bison populated the Great Plains for thousands of years before settlers discovered the advantages of the Running Water Draw that eventually became downtown Plainview. The town received its charter in 1888, and early growth was dramatic as the railroad in 1906 encouraged even more growth. Abundant water is still available, making Plainview the area's agricultural hub as well as a growing center for business, culture and commerce. Try some homestyle cooking at The Cotton Patch Cafe, or grab a special coffee from the trained baristas at Broadway Brew.
Housing is stabilizing: This would be a good time to consider rent to own homes in Plainview. Home prices have fallen over the past year, but a relatively low number of homes are on the market at any given time. There are few new homes, which means more opportunities to personalize your future home by remodeling or updating.
Culture on the frontier: Even the early settlers wanted to enjoy life. The Plainview Community Concert Series is a popular attraction, and the Plainview Symphony plays regularly at Harrel Auditorium. Horses and Rodeo carry on the tradition of the Old West and you can watch your neighbors perform at Fair Theatre, or take to the stage yourself.
Looking for land? Approximately 40 percent of local homes are renter-occupied. If you want to live in town, you should be able to find homes for sale and rental homes in established neighborhoods -- many of them within walking distance of local parks. There is also an opportunity to buy land in Hale County, and sometimes property with an existing home can be a great value. If you want to plant a garden, sunflowers and watermelon are particularly popular in the area. Cotton is king in Plainview as the area ranks third in cotton production in the U.S., accounting for $4 billion annually.