Rent to own Homes in Homewood, AL
With consistent population growth since 1930, Homewood is now home to a population of over 25,000 people, making it one of the most densely-populated cities in Alabama. While there's plenty of activities in town, many residents are enthralled by the fact that fictional characters from the 'Southern Sisters Mysteries' called this place home. The same thing that attracted these characters will likely attract new homeowners in the area.
Homewood, AL is a great place for affordable rent-to-own homes! With a median household income of over $84,418 and a median rent of $1,206, the Homewood, 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 Homewood, 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.
More Homewood, AL Property Resources
Rent to own Homes in Cities Near Homewood, AL
- Adamsville
- Alabaster
- Bessemer
- Birmingham
- Brantleyville
- Brierfield
- Brighton
- Brook Highland
- Brookside
- Calera
- Center Point
- Chelsea
- Clay
- Columbiana
- Concord
- Dunnavant
- Eagle Point
- Edgewater
- Fairfield
- Forestdale
- Fultondale
- Grayson Valley
- Graysville
- Harpersville
- Helena
- Highland Lakes
- Hoover
- Hueytown
- Indian Springs Village
- Irondale
- Kimberly
- Lipscomb
- Midfield
- Montevallo
- Morris
- Mountain Brook
- Mount Olive
- North Johns
- Pea Ridge
- Pinson
- Quinton
- Shoal Creek
- Sylvan Springs
- Tarrant
- Trussville
- Vandiver
- Warrior
- West Jefferson
- Westover
- Wilton
Neighborhoods in Homewood, AL
Downtown Homewood rent to own homes West Homewood rent to own homes Mayfair rent to own homes Grove Park rent to own homes Hollywood rent to own homes Homewood rent to own homes Edgewood rent to own homes Rosedale rent to own homesPopular Zip Codes in Homewood, AL
35293 rent to own homes 35209 rent to own homes 35229 rent to own homesBuying a Home in Homewood, AL
Homewood, AL is seeing rapid growth and Homewood, AL's' housing market remains not optimal with an average home price that is 75% above the 2024 national average. Homewood, AL is part of Jefferson 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 Jefferson is 0.58% which is below the national average, which is 0.99%.
Median Home Price in Homewood, AL
Median Rent in Homewood, AL
Top 3 Reasons to Live in Homewood
Great home values! Almost every housing market in America took a hit over the past five years, and it's no different for Homewood. Despite the recession, home values in the area have increased by over 10 percent in the past decade. Though the average increase for the United States is slightly higher, it hasn't changed the fact that single family houses in this area are valued at nearly 30 percent more than the average American house value. This means that regardless of whether someone wants to purchase a place near Vestavia Hills or find rent to own houses closer to Birmingham, they'll end up getting a great value in the long run.
Convenient to Birmingham! Many people find it difficult to choose between living a life inside a big city or on the outskirts. There are benefits to both, but Homewood has the advantage of being close enough to the city without dealing with congestion or a higher cost of living. Homewood is only separated from Birmingham by Red Mountain, so it's easy to get into the city limits without actually having to deal with the stressors of living there. This means you can easily commute if you have a job in the city, or if you just like checking out the McWane Science Center on occasion.
Amazing property taxes! Nearly 50 percent of all homes in the Homewood area are owned as opposed to rented. This below average number, combined with high housing valuations, often leads people to think that they'll be shelling out an arm and a leg in property taxes if they choose to live in an area so convenient to Interstate 65. In reality, though, this isn't the case at all. In fact, the taxes are nearly 50 percent lower in Homewood than they are in the rest of the country. You might as well take these savings and head on up to the Birmingham Zoo or the Vulcan Park and Museum for a day of fun.