Rent to own Homes in Farmington, UT
Farmington was originally settled in 1847 under the name of North Cottonwood. With the current population estimated at just under 21,000, Farmington has been experiencing steady growth in recent years. It is the county seat in Davis County and occupies 7.8 square miles of land. On more than one occasion, Farmington has been featured in Money Magazine's "Best Places to Live," the most memorable year being 2011, when they ranked in at number 12.
Farmington, UT is a great place for affordable rent-to-own homes! With a median household income of over $99,208 and a median rent of $1,215, the Farmington, UT 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 Farmington, UT. 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 Farmington, UT Property Resources
Rent to own Homes in Cities Near Farmington, UT
- Bingham Canyon
- Bountiful
- Brighton
- Centerville
- Clearfield
- Clinton
- Cottonwood Heights
- Emigration Canyon
- Farmington
- Fruit Heights
- Granite
- Harrisville
- Hill Afb
- Holladay
- Hooper
- Kaysville
- Kearns
- Layton
- Magna
- Marriott-Slaterville
- Midvale
- Millcreek
- Morgan
- Mountain Green
- Murray
- North Salt Lake
- Ogden
- Riverdale
- Roy
- Salt Lake City
- Sandy
- South Jordan
- South Ogden
- South Salt Lake
- South Weber
- Summit Park
- Sunset
- Syracuse
- Taylorsville
- Uintah
- Washington Terrace
- West Bountiful
- West Haven
- West Jordan
- West Point
- West Valley City
- White City
- Woods Cross
Neighborhoods in Farmington, UT
Farmington rent to own homesPopular Zip Codes in Farmington, UT
84025 rent to own homesBuying a Home in Farmington, UT
Farmington, UT is seeing rapid growth and Farmington, UT's' housing market remains not optimal with an average home price that is 93% above the 2024 national average. Farmington, UT is part of Davis 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 Davis is 0.6% which is below the national average, which is 0.99%.
Median Home Price in Farmington, UT
Median Rent in Farmington, UT
5 Reasons to Live in Farmington, UT
Enjoy the local entertainment events! Farmington offers plenty of opportunities for its residents to get out and enjoy themselves. This comes in the form of leisurely activities and more adventurous endeavors. If you want to get out for the day and just cut loose, the Lagoon Amusement Park is one of the preferred spots in the area and the price of admission is extremely reasonable. For something a bit easier, Station Park offers a variety of local shops and events to keep residents occupied.
The local community! The residents of Farmington put on emphasis on their local community, and this shows through in the various art programs that are active throughout the city. The Farmington Community Arts Center regularly schedules shows and events for the residents to enjoy. They also enjoy annual events such as the Storytelling Festival or the annual Miss Farmington Pageant.
Rising real estate values! Though this may mean that you are not getting the lowest prices around, the price of homes for sale in Farmington are steadily on the rise. The forecast is positive in the near future, which means those who take advantage of this trend can make a good investment. N Main St./U.S. Route 89 offers a nice neighborhood option. Alternatively, Farmington City Center is also a great place to check. If you're not sure you can afford the above-average prices, there are also rent to own homes on the market.
Below average rental prices! Another reason you may want to look at a rental house or check out apartments in Farmington is that the average price per month for a rental unit is actually below the national average. If you want a good apartment option, both Rose Cove Apartments and Park Lane Village are great options.
Take a fresh of breath air in the parks! The Parks Department of Farmington offers residents the opportunity to visit a variety of beautiful and well-maintained parks. Woodland Park is a popular spot to hold local, outdoor events. Heritage Park gives residents 11 acres of land with plenty of activities to enjoy around the park.