Rent to own Homes in Madison, AL
Nationally recognized community! This north Alabama city is fast becoming one whose name is on everyone's lips. In 2013, U.S. News and World Report recognized the city's local high school, Bob Jones High School, as a silver medalist for being among the top 2 percent of high schools in the country. CNN Money also named Madison the seventh-best place to live for job growth. The Huntsville/Madison Chamber of Commerce hosts a number of career fairs throughout the year, making job searching a little easier for Madison residents.
Madison, AL is a great place for affordable rent-to-own homes! With a median household income of over $94,214 and a median rent of $986, the Madison, 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 Madison, 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 Madison, AL Property Resources
Rent to own Homes in Cities Near Madison, AL
- Ardmore
- Ardmore
- Athens
- Blanche
- Brownsboro
- Danville
- Decatur
- Elkmont
- Elkton
- Eva
- Falkville
- Hartselle
- Harvest
- Hazel Green
- Huntsville
- Laceys Spring
- Madison
- Meridianville
- Moores Mill
- Mooresville
- New Hope
- New Market
- Owens Cross Roads
- Priceville
- Prospect
- Redstone Arsenal
- Somerville
- Taft
- Tanner
- Toney
- Triana
- Trinity
- Valhermoso Springs
Neighborhoods in Madison, AL
No neighborhoods foundPopular Zip Codes in Madison, AL
35758 rent to own homesBuying a Home in Madison, AL
Madison, AL is seeing rapid growth and Madison, AL's' housing market remains not optimal with an average home price that is 21% above the 2024 national average. Madison, AL is part of Madison 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 Madison is 0.43% which is below the national average, which is 0.99%.
Median Home Price in Madison, AL
Median Rent in Madison, AL
9 Reasons to Live in Madison, AL
Close to Huntsville! Many Madison residents work and play in nearby Huntsville, which is home to such recreational and cultural amenities as the U.S. Space and Rocket Center and the Von Braun Center.
Fast growing community! Because of its proximity to Huntsville, Madison remains a choice community for people who prefer to live outside that city. Madison is now the 10th-largest city in Alabama. Get to know some of the many locals at events like the annual Madison Street Festival or holiday parade.
Demand for rental housing remains high! Rapid growth means that people are hungry for homes to rent. Madison's vacancy rate has been in steady decline since 2006, which means finding rent to own options could be tricky. Surveys of the current renters' market suggest that that you can find a place to rent in neighborhoods like Fitchburg and Monona.
High home ownership and vacancy rate! Nearly 66 percent of residents own their homes. The city's popularity has been out pacing its new home construction and existing home turnover. There is a less than 5 percent vacancy for homes to rent in Madison. Check out some of the listings near the Wall Triana Highway or Mill Creek Park, and look for rent to own houses.
Still affordable! The housing market in Madison is tiny, but still affordable. The median sale price is about $143,000. There are about 1,280 resale and new houses currently for sale and they stay on the market about 121 days. Look for listings near Progress Lane or Bridgefield Road, and rent to own homes.
Highly educated residents! Nearly all of Madison's residents have a high school diploma and an estimated 70 percent have a bachelor's degree. Continue learning with classes at the Madison Public Library or nearby Triana Public Library.
A great place to get an education! Madison residents have access to three of the state's two year colleges, an upper level two-year university called Athens State University, and four four-year colleges including the University of Alabama Huntsville.
The great outdoors! If you like camping and hiking, you'll want to take advantage of Madison's proximity to Monte Sano State Park, a 2,140 acre state park. With more than 14 miles of trail, newly improved campgrounds, and less than $100 a night cabin rentals, it is one more reason to love Madison. Get outfitted with everything you'll need at one of the nearby Alabama Outdoors stores.