Rent to own Homes in Fairwood, WA
Fairwood, King County, Washington is a vibrant and bustling community of friendly, socially minded residents. The population is a little over 19,000, with a density of around 3,900 per square mile. The town was settled in the late 1880s, largely for coal mining, as well as to serve Seattle residents as a recreational retreat. It is surrounded by wide open spaces, gargantuan trees, and five large lakes.
Fairwood, WA is a great place for affordable rent-to-own homes! With a median household income of over $76,432 and a median rent of $1,098, the Fairwood, 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 Fairwood, 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.
More Fairwood, WA Property Resources
Rent to own Homes in Cities Near Fairwood, WA
- Alderton
- Algona
- Bainbridge Island
- Beaux Arts Village
- Bellevue
- Black Diamond
- Bothell West
- Boulevard Park
- Brier
- Browns Point
- Burien
- Clearview
- Clover Creek
- Clyde Hill
- Cottage Lake
- Covington
- Crocker
- Dash Point
- Des Moines
- East Hill-Meridian
- Edgewood
- Enumclaw
- Fall City
- Federal Way
- Fife
- Fife Heights
- High Bridge
- Issaquah
- Kent
- Kingsgate
- Lake Forest Park
- Lake Holm
- Lakeland North
- Lakeland South
- Lake Morton-Berrydale
- McMillin
- Mercer Island
- Midland
- Milton
- Mountlake Terrace
- Normandy Park
- North Puyallup
- Prairie Ridge
- Puyallup
- Riverton
- SeaTac
- Seattle
- Shoreline
- South Hill
- Tukwila
Neighborhoods in Fairwood, WA
Maple Ridge Estates rent to own homesPopular Zip Codes in Fairwood, WA
98058 rent to own homesBuying a Home in Fairwood, WA
Fairwood, WA is seeing rapid growth and Fairwood, WA's' housing market remains not optimal with an average home price that is 47% above the 2024 national average. Fairwood, WA is part of King 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 King is 0.88% which is below the national average, which is 0.99%.
Median Home Price in Fairwood, WA
Median Rent in Fairwood, WA
Top 5 Reasons to live in Fairwood, WA
You can get lost in nature! Among the many outdoor attractions of Fairwood are the plentiful parks. The Lake Desire or Spring Lake Park is renowned for riding, biking, and back country hiking, while the Soos Creek Trail and Park is a birdwatcher's paradise replete with all kinds of song birds, ducks, and raptors. There's also the evergreen forest of McGarvey Park, with unparalleled sights of Mount Rainier.
You can join a country club! The Fairwood Golf & Country Club has a range of flexible membership options, affording locals access to a fantastic golf course, state-of-the-art fitness center, and sizable pool. Joining the country club is a great way to meet other residents and engage with the community. If relaxing outdoors in a more natural setting is more your thing, take a look at Madsen or Dartwood Creeks.
You can learn just about anything at the library! From arts and crafts, video gaming and dance to employment skills and meditation, the Fairwood Public Library has something for everyone. Located on 140th Avenue SE, the library is great for adults and children alike. Alongside bestsellers and staff recommendations, it also has a wide selection of foreign language books, movies, and magazines. Reflecting Fairwood's spirit of philanthropy, the library also provides extensive information on setting up and maintaining nonprofit and fundraising organizations.
It has high occupancy and ownership rates! Fairwood has a very high occupancy rate of 96.4% always a good sign of livability and satisfaction among residents. Those looking for homes for sale or rent to own in the area will also be encouraged by the minimal number of seasonally occupied homes, indicative of a community that is stable and cohesive. Residents living here have easy access to community amenities, including Fairwood Shopping Center and green spaces like Renton Park.
Home values are rising! Fairwood residents saw house prices appreciate by 12.5 percent in 2014, with a median house sale price of $254,800. This uptake is undoubtedly tied to a growing number of things to do, from the shops at Fairwood Plaza to Menchie's Frozen Yogurt.