Rent to own Homes in Kennewick, WA
Located close to the site of the largely decommissioned Hanford nuclear site, Kennewick is a city of over 76,000 people. The city manages to maintain the feeling of a rather close-knit community while having all the benefits of a major metropolis, thanks to its proximity to two other cities - Pasco and Richland. Among Kennewick's landmarks is a World Trade Center Memorial Monument made out of a support column from the World Trade Center itself.
Kennewick, WA is a great place for affordable rent-to-own homes! With a median household income of over $62,283 and a median rent of $955, the Kennewick, 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 Kennewick, 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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Kennewick, WA is seeing rapid growth and Kennewick, WA's' housing market remains not optimal with an average home price that is 10% above the 2024 national average. Kennewick, WA is part of Benton 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 Benton is 1.07% which is above the national average, which is 0.99%.
Median Home Price in Kennewick, WA
Median Rent in Kennewick, WA
Top Reasons to Live in Kennewick WA
Housing Statistics While there is a rather high turnover rate for residential properties (26%), only 2% of properties are vacant - well below the national average. Meanwhile 39% of properties are rented (including rent to own homes) and 59% owned. Throughout 2012 the average sales price fell slightly from $205,000 in Q1 to $193,000, while the median suffered a similar drop from $187,000 to $179,000.
Largest Employers and Industries Since pumps and ditches were installed in Kennewick bringing water to the area in the 1890s, agriculture here has thrived. A wide range of crops are grown in the region including corn, apples, wheat and grapes - it's estimated that agriculture employs almost 10% of working people in the city. Education, health and social services are also important for the local economy, and together, they account for about 1 in 5 jobs in Kennewick. The construction and manufacturing industries also play a vital role, providing employment for 20% of working men in the city.
Weather and Climate Kennewick is a dry city with around 5 to 7 inches of precipitation annually, which is about the same amount of snowfall the city gets. Summers are very hot, with average highs almost reaching 90 degrees Fahrenheit in July and August. However, there are low humidity levels, making the high temperatures bearable. The average low in winter often falls below 30 degrees, but the biggest nuisance for most residents are the occasional strong winds that can reach speeds of 30mph.
Nightlife With all the nearby wineries you should expect a decent wine bar or two, and Kennewick doesn't disappoint. The Zinful Panini Grill and Wine Bar has the two things needed for a good wine bar: knowledgeable staff and an extensive selection. If you're not a wine drinker, the Twigs Bistro and Martini Bar serves classic and original cocktails with great food. If you care more about the music than the drinks, make your way to Jack Didley's and prepare for a night of dancing.
Local Shopping As the largest of the Tri-Cities, big brand stores can be found in Kennewick's Columbia Center. Books, technology, clothing, footwear, cosmetics: you'll most likely find it all here. For something a little different, head downtown and browse the independent fashion boutiques, take a look in the antique stores, or check out the art galleries.