Rent to own Homes in Ellensburg, WA
Washington's most centrally located city, Ellensburg, lies inland of the majestic Cascade Mountains, just two hours southeast of Seattle. The city boasts a residential community of a little more than 18,000 people, around 11,000 of whom attend Central Washington University. Plentiful local amenities, a lively calendar of community events and a stable housing market with a great choice of 19th century historic buildings make Ellensburg a charming place to hang your hat.
Ellensburg, WA is a great place for affordable rent-to-own homes! With a median household income of over $43,567 and a median rent of $1,052, the Ellensburg, WA 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 Ellensburg, WA. 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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Ellensburg, WA is seeing rapid growth and Ellensburg, WA's' housing market remains not optimal with an average home price that is 8% above the 2024 national average. Ellensburg, WA is part of Kittitas 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 Kittitas is 0.69% which is below the national average, which is 0.99%.
Median Home Price in Ellensburg, WA
Median Rent in Ellensburg, WA
Top 6 Reasons to Live in Ellensburg, WA
Get to know your neighbors! Popular dates in the community calendar include Labor Day weekend, which features the Kittitas County Fair and the Ellensburg Rodeo. Buskers in the Burg and the Jazz in the Valley music festival are also ideal if you're musically minded.
Ample amenities! Stock up on groceries at the 18th Street Grocery & Deli and the Kittitas County Farmers Market or relax at neighborhood eateries, such as the Rodeo City Bar-B-Q and the Bleachers Sports Bar. Grab a quick coffee from Jenikka's Coffee House when you're on the go.
Low cost of living! Life in Ellensburg will cost you more than 13 percent less than living in the rest of the state and a little more than 3 percent less than the national average. This means you'll pay less to fill up at Love's Travel Shop and be able to grab a slice of pizza at Brooklyn's Pizzeria without forking out too much of your hard earned cash.
Great rental homes! The lower cost of living in Ellensburg extends to the cost of rental homes in the area. At $769, the average monthly rent is less than the Washington and national averages, but prices do vary. You can pick up a two-bedroom apartment at the Grove at Ellensburg for around $550 or hike up your budget to around $930 and enjoy the Camden Townhomes.
Lots of green spaces! The Irene Rinehart Riverfront Park and Mountain View/Lions Park boast numerous sporting facilities, including swimming pools and a roller hockey rink. The Paul Rogers Wildlife Park is perfect for a stroll while the nearby Mt. Baker-Snoqualmie National Forest offers a greater challenge for outdoor enthusiasts.
Great for homeownership! The average house price in Ellensburg is around $200,000, almost $75,000 less than the rest of the state. For this price, you can expect to jump on the property ladder with a four or five-bedroom house on Ekone Road or 40th Avenue. If you're not quite ready for a full mortgage, check out rent to own options in the area.