Rent to own Homes in Fairhope, AL
Founded in the late 19th century as a Utopian experiment where residents would have "a fair hope of success" on the Eastern Shore of Alabama's Mobile Bay, Fairhope is still considered a paradise by its residents. With a population of around 17,000, the community has a small town look and feel on the streets of downtown and in surrounding neighborhoods while the beaches of the Gulf of Mexico and big city amenities of nearby Mobile are just a short drive away.
Fairhope, AL is a great place for affordable rent-to-own homes! With a median household income of over $80,106 and a median rent of $1,312, the Fairhope, AL 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 Fairhope, AL. 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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Central Business District rent to own homes Fairhope rent to own homesBuying a Home in Fairhope, AL
Fairhope, AL is seeing rapid growth and Fairhope, AL's' housing market remains not optimal with an average home price that is 48% above the 2024 national average. Fairhope, AL is part of Baldwin 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 Baldwin is 0.31% which is below the national average, which is 0.99%.
Median Home Price in Fairhope, AL
Median Rent in Fairhope, AL
Top 4 Reasons to Live in Fairhope, AL
A vibrant arts and literary scene! Once an artists' colony, Fairhope is still a hotbed for the arts. Many well-known writers, musicians and other artists have resided there, including singer/songwriter Jimmy Buffett and the legendary novelist and muckraking journalist, Upton Sinclair. Pulitzer Prize-winning author Rick Bragg calls Fairhope home today. The Eastern Shore Arts Center is the nexus point of the arts in town and a good place to begin the First Friday Art Walk each month. The Fairhope Museum of History is a good place to learn more about the fascinating history of Fairhope and the single-tax experiment that's still in effect.
The golfing is sublime! The renowned Robert Trent Jones Golf Trail, a series of award-winning public championship golf courses snaking through Alabama, has a location in Fairhope at the Lakewood Golf Club. Lakewood is part of the historic Grand Hotel at Point Clear, a vacation resort that locals also frequent for its dining options. Quail Creek Golf Course run by the City of Fairhope is another favorite public course worth playing in town.
A variety of properties in a beautiful location! You'll find waterfront properties, new homes and older houses in this shady community overlooking Mobile Bay. Downtown and its adjacent neighborhoods are a hot spot, as is the Point Clear area, and of course, any property directly on the bay is desirable. The municipal pier and its adjacent park actually serve as the de facto town square of Fairhope and it's within walking distance to downtown. Newcomers will find plenty of properties to rent all around town and if they don't want to commit to buying right away, they can look into rent to own properties.
Great neighbors in great neighborhoods! Fairhope has been named one of the best towns in the South to live in by Southern Living magazine. This is a community where neighbors know one another, and you'll hear residents greeting each other by name on the sidewalks of downtown and at local, independent businesses like Panini Pete's and Page and Palette Bookstore. Homes can go anywhere from $90,000 to $400,000 so make sure you shop around for a property within your price range in the neighborhood that is the best fit for you.