Rent to own Homes in Opelika, AL
At first glance, Opelika looks like a typical small town with all the standard amenities for comfortable modern living. Look closer and you'll see an exuberant Southern community with access to a range of diverse activities and scenery. Situated in east central area of Alabama, Opelika is 15 miles from the Georgia state border and the famous Chattahoochee River, close to several large parks and less than an hour's drive away from the state capital, Montgomery.
Opelika, AL is a great place for affordable rent-to-own homes! With a median household income of over $50,488 and a median rent of $754, the Opelika, 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 Opelika, 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 Opelika, AL Property Resources
Rent to own Homes in Cities Near Opelika, AL
Neighborhoods in Opelika, AL
India Lakes rent to own homes Northside Historic District rent to own homes Downtown Opelika Historic District rent to own homes Geneva Historic District rent to own homes Westside rent to own homes Saugahatchee Country Club rent to own homes Ward Heights rent to own homes Alta Vista rent to own homes Camelot rent to own homes North Hills rent to own homesPopular Zip Codes in Opelika, AL
No zip codes foundBuying a Home in Opelika, AL
Opelika, AL is seeing rapid growth and Opelika, AL's' housing market remains optimal with an average home price that is -29% below the 2024 national average. Opelika, AL is part of Lee 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 Lee is 0.5% which is below the national average, which is 0.99%.
Median Home Price in Opelika, AL
Median Rent in Opelika, AL
Top 5 Reasons to Live in Opelika, AL
Shorter commute times! Residents of Opelika spend less time on the road and more time working--and playing. The average drive to work is less than 20 minutes, which is 24% less than the state's average. Cutting through the southeast section of Opelika, Interstate 85 makes it easier to travel to Montgomery, Atlanta or just to get from Columbus Pkwy. to the Auburn University Regional Airport.
More vacancies for renters! Local home prices hover around the national average but Opelika has a high vacancy rate of 13.02%. This elevated vacancy rate can be attributed to seasonal occupation of rentals in closer proximity to Auburn University, mostly in the southwest section of town. Search the Pepperell and south Chewacla neighborhoods in summer to secure a rental property in newer developments or subdivisions.
Abundant outdoor activities! With five city parks, seven golf courses and the annual Dogwood and Azalea Trail, Opelika is full of outdoor recreation for residents of all ages and interests. Expert fishermen can head up to Saugahatchee Lake to catch some largemouth bass. Adventure-seekers can spend weekends down at Chewacla State Park for camping, fishing and mountain biking. Locals can relax with a visit to Municipal Park for Summer Swing, a free outdoor concert series that runs every Tuesday night for 15 weeks.
Lower rent prices! Rental prices in Opelika City Center are currently 45 percent lower than the average neighborhood in Alabama. This is a more established area featuring a wide selection of medium-sized single family homes and spacious apartments. Expanding the house hunting search to the Geneva St. and Mount Jefferson areas will improve chances of finding the perfect rent to own home.
Active historic downtown! After major renovations, Historic Downtown Opelika is attracting locals to the revitalized shopping district with a variety of independent restaurants, charming boutiques and special events throughout the year. Residents and visitors alike come out for the Opelika Arts Festival, an annual Christmas parade, Easter on the Square and the Rails and Bales Heritage Festival.