Rent to own Homes in Cave Spring, VA
Home to a residential community of a little under 25,000 people, Cave Spring is a census-designated place in Virginia's picturesque Roanoke County. Covering much of the land known colloquially as Southwest County, Cave Spring lies immediately southwest of the city of Roanoke. The area boasts a high livability score with plentiful local amenities, a low cost of living, low crime rates and more than 200 annual sunny days.
Cave Spring, VA is a great place for affordable rent-to-own homes! With a median household income of over $68,225 and a median rent of $977, the Cave Spring, VA 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 Cave Spring, VA. 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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Rent to own Homes in Cities Near Cave Spring, VA
- Ballard
- Belspring
- Belview
- Bent Mountain
- Blacksburg
- Callaway
- Catawba
- Check
- Christiansburg
- Copper Hill
- Dublin
- Eggleston
- Elliston
- Fairlawn
- Floyd
- Gap Mills
- Glenvar
- Indian Valley
- Lafayette
- Lindside
- Merrimac
- Newport
- New River
- Paint Bank
- Parrott
- Pearisburg
- Pembroke
- Pilot
- Plum Creek
- Prices Fork
- Pulaski
- Radford
- Riner
- Ripplemead
- Salem
- Shawsville
- Snowville
- Staffordsville
- Waiteville
- Willis
Neighborhoods in Cave Spring, VA
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Cave Spring, VA is seeing rapid growth and Cave Spring, VA's' housing market remains not optimal with an average home price that is 3% above the 2024 national average. Cave Spring, VA is part of Roanoke 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 Roanoke is 0.92% which is below the national average, which is 0.99%.
Median Home Price in Cave Spring, VA
Median Rent in Cave Spring, VA
Top 5 Reasons to Live in Cave Spring, VA
Career opportunities! Several large businesses have a base in Cave Spring. Find employment at the likes of Carilion Health Care or Toshiba and Advance Auto Parts. With further opportunities available within the neighboring city of Roanoke, Cave Spring boasts an unemployment rate that is lower than the rest of Virginia and the U.S. as a whole.
Adventurous lifestyle! Cave Spring is all about outdoor diversions, with ample opportunity to take part in hiking, camping and mountain biking. Ski the slopes of Blue Ridge Mountain, wander along the Blue Ridge Parkway or explore the Appalachian Trail. Fishing is available at Windsor Lake and Spring Valley Lake and golfers are kept happy at the Hunter Hills Country Club.
Cheaper homes and higher income! The median value of an owner-occupied home in Cave Spring is almost $211,000, which is about 15 percent less than Virginia and the rest of the country. The rental market is equally attractive; expect to pay around $845 for rental homes. The income per head is higher in Cave Spring than in the rest of the state, so you'll have plenty of your budget left to catch a show at the Virginia Western Theater or a movie at Carmike 10.
Delicious dining options! Whet your appetite with a trip to a local restaurant, most of which can be found along Electric Road and Brambleton Avenue. Favorites such as Annie Moore's Pub, Carlos Brazilian International Cuisine, and Famous Anthony's will leave you wanting a return visit. Prefer to cook your own dinner? The Historic Roanoke City Market is open seven days a week.
Great choice of apartments! Whether you're looking at short term rents or are tempted by rent to own options, you'll enjoy plenty of choice in Cave Spring. At three percent, the rental vacancy rate is fairly low, but it's possible to find a great property in apartment complexes such as Windy Hill Key, The Pines of Roanoke and South Sixteen at the Bridges.