Rent to own Homes in Lake Havasu City, AZ
It's the perfect market to rent to own! The estimated median home value in Lake Havasu City in 2011 was $168,101, compared to the Arizona median value of $153,800. This means that while owning a home may be out of your price range, choosing to rent to own instead could be a smart alternative.
Lake Havasu City, AZ is a great place for affordable rent-to-own homes! With a median household income of over $55,887 and a median rent of $943, the Lake Havasu City, AZ 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 Lake Havasu City, AZ. 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 Lake Havasu City, AZ Property Resources
Rent to own Homes in Cities Near Lake Havasu City, AZ
Neighborhoods in Lake Havasu City, AZ
Medical District rent to own homes Downtown District rent to own homes Southgate District rent to own homes Residential Estates rent to own homes Saling Hawks rent to own homes Uptown Mcculloch Main Street rent to own homes Southside District rent to own homes Acoma rent to own homes Kiowa Amberwood rent to own homes Island District rent to own homesBuying a Home in Lake Havasu City, AZ
Lake Havasu City, AZ is seeing rapid growth and Lake Havasu City, AZ's' housing market remains not optimal with an average home price that is 23% above the 2024 national average. Lake Havasu City, AZ is part of Mohave 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 Mohave is 0.54% which is below the national average, which is 0.99%.
Median Home Price in Lake Havasu City, AZ
Median Rent in Lake Havasu City, AZ
Lake Havasu City, AZ
A piece of London in Arizona! A popular tourist attraction is the London Bridge which crosses a man made canal connecting Lake Havasu to Thompson Bay. Bought from the city of London in 1968, the bridge was shipped to the U.S. and reassembled in Lake Havasu City in 1971.
Renting to own opens up your options! Of the 22,991 houses in Lake Havasu City, only 22% are renter occupied, so there isn't a huge tidal wave of apartments and rental condos. The state average is that 27% of the population is renting. That means considering rent to own homes during your apartment search opens up your options if you're not ready to buy a property.
Outdoor events! The International World Jet Ski Final Races are held on the lake, as well as boat regattas and fishing tournaments. The city is also the site of the annual Chilln-n-Swilln Beer Festival, which benefits local charities.
Home values are rising! The value of a home is rising at the rate of about 9.4% a year and about $10,000 more than the national average, so investing in rent to own houses now before the values rise even more is a sound investment.
Something for everyone! Shoppers will love spending time in the stores in the Shops at Lake Havasu, while racing fans will want to check out the Havasu 95 Speedway. The Lake Havasu Art Collective is a great way to experience the works of local Lake Havasu City artists.
More owners are choosing to rent instead of sell! The number of home sales has decreased 42.5% in the last year. This means that while there are less homes being sold in Lake Havasu City, the number of owners trying to sell their homes remains about the same. More and more home owners are considering renting or renting to own instead.
Spring Break central! During the spring months, the city - especially Lake Havasu on the Colorado River, is filled with Spring Breakers from various parts of the West Coast and more. The lake is also a popular spot for boaters during the spring months all the way until September.
Beat your personal best time! Athletes or just those who love a good challenge will want to compete in either the Havasu Triathlon or the London Bridge Half Marathon. The triathalon takes place in March at the Havasu State Park while the London Bridge Half Marathon and 5K is an out and back course that occurs in April.
Plenty of parks! Skaters can practice tricks at the Havasu Skateboard and BMX Park, while joggers can run the trails in Wheeler Park or Rotary Park.
Fun on the water! Take your boat out on Lake Havasu, and then store it at the Sandpoint Marina. The Famous Turtle Beach Bar is a popular hangout along the shore.