Rent to own Homes in El Dorado, AR
Nestled in Union County, Arkansas, El Dorado is the country seat with a population hovering around 18,491 people. With multiple art, cultural and shopping centers, El Dorado is a central hub for the middle of Arkansas. The city lives up to its name as Arkansas's Original Boomtown by continuing to be a prosperous city filled with plenty of things to do, see and experience.
El Dorado, AR is a great place for affordable rent-to-own homes! With a median household income of over $43,409 and a median rent of $720, the El Dorado, AR 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 El Dorado, AR. 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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El Dorado, AR is seeing rapid growth and El Dorado, AR's' housing market remains optimal with an average home price that is -58% below the 2024 national average. El Dorado, AR is part of Union 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 Union is 0.55% which is below the national average, which is 0.99%.
Median Home Price in El Dorado, AR
Median Rent in El Dorado, AR
Top 6 Reasons to Live in El Dorado, AR
Parks! The city parks offer a variety of recreational facilities including golf courses, hiking and walking trails, tennis courts, and baseball and softball fields. Head over to Lions Club Park and Golf Course to hit a few rounds with some friends, or stop by the South Arkansas Arboretum and Botanical Garden, a state park next to the South Arkansas Community College.
Great for renters! Thirty-nine percent of residents rent in El Dorado. With affordable rental rates hovering around $600, it's a great time to find a rental home. Look for apartments in the neighborhoods of Parkers Chapel, City Center and North West Avenue.
Culture! El Dorado is home to several performing arts centers. Visit the South Arkansas Arts Center and view a rotating art exhibit, watch a contemporary stage performance or use their open studios for local artists. The Rialto Theater Music Hall and the South Arkansas Symphony Orchestra bring musical talent to El Dorado. Stop by for a night at the symphony or catch a live show or film at the historic Rialto.
Entertainment! The Mayhaw Festival in May features races, rock climbing and museum tours. Don't miss the crawfish boil, the bike show and the Battle of the Bands while you're there. The festivities continue with the Fantastic Fourth Celebration in July, the music festival in October and the Festival of Lights in December.
Delicious eats! Stop by PJ's Coffee for a cup of joe and some chocolate in the morning, hang out at Fayrays for a delicious lunch and finish your day at Abe's Ole' Feed House for a big, hearty, southern style dinner.
Rising appreciation rates! With appreciation rates rising over 1.02 percent in the past year and over 5.7 percent over the last two years, there has never been a better time to invest in a home in El Dorado. Whether you want to buy a home immediately or are looking for a rent to own home, the neighborhoods of West Hillsboro Street, Norphlet and Parkers Chapel have seen the highest appreciation rates in the past few years.