Rent to own Homes in Tuscaloosa, AL
The University of Alabama is the centerpiece of Tuscaloosa, and the football team is the city's pride and joy. However, there is more to Tuscaloosa than football, even if it's hard to tell every fall. This is a prosperous city of approximately 93,000 people. Tuscaloosa has a quaint downtown area with some buildings built in the late 1800s, and plenty of restaurants and pubs. Most of the retail and commercial businesses are found along McFarland Boulevard, which runs the length of the city. A couple of years ago the city built the outdoor Tuscaloosa Amphitheater which attracts big name acts. There is the award-winning Children's Hands-On Museum and the Paul W. Bryant Museum located on the campus. Recently, a number of large apartment complexes were developed to accommodate the growing campus population, making it easy to find rental properties.
Tuscaloosa, AL is a great place for affordable rent-to-own homes! With a median household income of over $44,507 and a median rent of $858, the Tuscaloosa, 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 Tuscaloosa, 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 Tuscaloosa, AL Property Resources
Rent to own Homes in Cities Near Tuscaloosa, AL
- Adamsville
- Alabaster
- Bessemer
- Brantleyville
- Brighton
- Brook Highland
- Calera
- Center Point
- Clay
- Concord
- Dolomite
- Dora
- Dunnavant
- Eagle Point
- Edgewater
- Empire
- Forestdale
- Gardendale
- Graysville
- Helena
- Highland Lakes
- Homewood
- Hueytown
- Indian Springs Village
- Irondale
- Kimberly
- Lake View
- Leeds
- Lipscomb
- Maytown
- McDonald Chapel
- Meadowbrook
- Midfield
- Minor
- Montevallo
- Mount Olive
- North Johns
- Pea Ridge
- Pinson
- Quinton
- Shoal Creek
- Sumiton
- Sylvan Springs
- Tarrant
- Trafford
- Trussville
- Vandiver
- Warrior
- West Jefferson
- Westover
Neighborhoods in Tuscaloosa, AL
Capleswood rent to own homes University Circle rent to own homes Audubon rent to own homes Downtown Tuscaloosa rent to own homes Queen City rent to own homes Pinehurst rent to own homes Guilds Wood rent to own homes Seventh Street rent to own homes Druid City rent to own homes Lurleen Wallace Boulevard rent to own homesPopular Zip Codes in Tuscaloosa, AL
35403 rent to own homes 35407 rent to own homes 35475 rent to own homes 35405 rent to own homes 35401 rent to own homes 35476 rent to own homesBuying a Home in Tuscaloosa, AL
Tuscaloosa, AL is seeing rapid growth and Tuscaloosa, AL's' housing market remains optimal with an average home price that is -13% below the 2024 national average. Tuscaloosa, AL is part of Tuscaloosa 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 Tuscaloosa is 0.32% which is below the national average, which is 0.99%.
Median Home Price in Tuscaloosa, AL
Median Rent in Tuscaloosa, AL
Top Reasons to Live in Tuscaloosa AL
Housing Statistics As would be expected in a city hosting a large university, over half (52 percent) of the properties are renter occupied, making it easy to find rent to own houses. There is also a high vacancy rate of over 22 percent for the same reason. However, the owner occupied residences are stable, and there is a large selection in every price range. 48 percent of the homes are owner occupied. That is due to the fact that Tuscaloosa is a mix of old and new developments. The median home value is approximately $150,000-$160,000, and the median price for a monthly rental is $525. Newer apartments will cost more to rent, of course. There are usually 500-600 properties for sale at any time and approximately 3,000 houses and condominiums are sold each year. The median sales price is $129,000. The annual turnover for homes is approximately 25 percent, but the fact it is higher than the national average is due to it being a university town.
Employment Opportunities According to the Tuscaloosa Chamber of Commerce, the largest employer in Tuscaloosa is the University of Alabama with over 8,000 employees. The higher education industry also includes Stillman College and Shelton State Community College. The next largest employer is DCH Regional Medical Center, which is centrally located close to the city center and the University of Alabama. The medical center employs approximately 3,500 people. Another major health employer is the Veterans Administration Hospital, which employs 1,126 people. Other major employers include the BF Goodrich Tire Manufacturing plant with 1,400 people, the City Board of Education with 1,354 people, and the City of Tuscaloosa with 950 people. These numbers fluctuate, but this gives you a good idea of the size of the major employers.
Arts and Culture All through the year there are artistic and cultural events. The historic Bama Theater, opened in 1938, hosts old film series, concerts and music performances. Nearby, the Tuscaloosa Arts Council is restoring another historic building and developing the Dinah Washington Cultural Arts Center. Theatre Tuscaloosa, now working in cooperation with Shelton State Community College, has been offering performances for over 40 years. The Tuscaloosa Amphitheater holds attracts big-name celebrities like Rascal Flatts, Willie Nelson, the Backstreet Boys and Widespread Panic.
Neighborhoods Tuscaloosa is a city where most neighborhoods can be considered close by. Even the most northern and southern sections require only a 15 to 30 minute commute to downtown Tuscaloosa or the University of Alabama. The following are some of the main areas where year-round residents and students live: