Rent to own Homes in Somerton, AZ
Somerton is nestled in the far southwestern corner of Arizona, in Yuma County, and has a population of around 15,000. Every year it plays host to about 25,000 who come to feast on a local specialty known and loved around the nation: Tamales! The annual Tamale Festival is sponsored by the El Diablito Alumni Chapter of Arizona State University, with proceeds going to support area high school students who intend to enroll at ASU.
Somerton, AZ is a great place for affordable rent-to-own homes! With a median household income of over $52,061 and a median rent of $847, the Somerton, 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 Somerton, 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.
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Somerton, AZ is seeing rapid growth and Somerton, AZ's' housing market remains optimal with an average home price that is -31% below the 2024 national average. Somerton, AZ is part of Yuma 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 Yuma is 0.63% which is below the national average, which is 0.99%.
Median Home Price in Somerton, AZ
Median Rent in Somerton, AZ
5 Top Reasons to Move to Somerton, AZ
Home prices are climbing! Median home values are still approximately $50,000 under the high recorded in 2007-2008, but they are climbing once again. Values rose 1.6% over the past year, and predictions are for an increase of 5.5% in 2015. This is a good time to lock in prices on rent to own homes, because rental homes are available at extremely reasonable rates compared to the nearby Yuma/San Luis area.
Great location! Somerton is located only about 10 miles from the Mexican border, and much of its cultural influence comes from South of the Border. It is also only about the same distance from the California border, but San Diego is 180 miles west. The weather is clear, sunny and dry most of the year, and although temperatures soar in the summer, everything is air conditioned, and temperatures cool each night. Native American heritage is evident as well, with the Cocopah Casino and Conference Center, museum, speedway and golf course always at the ready to entertain you.
Community spirit! The Tamale Festival may be the biggest of the year, but other events in all seasons keep residents involved and working together. Pet-Palooza in February brings humans and their four-footed friends together for an outdoor carnival; Fiestas Patrias in September celebrates Mexican Independence in a multi-cultural festival that includes marshmallow-eating contests as well as jalapeno-eating competition.
Great food! This is an agricultural area, so fresh has local has real meaning here for foodies. Primary crops include tomatoes, peppers, melons, eggplant and citrus crops. Restaurants also have a South of the Border influence with great, reasonably priced food served at Rincon de Guadalajara, Pollos El Correteado and La Isla. Main Street Cafe also gets high marks.
Small-town living! The land area of Somerton is only about 1.3 square miles, but it lives large! It can be roughly divided into the residential neighborhoods north of I-95, and the part of town that lies south of the interstate. Rental homes and houses for sale in both areas have access to parks and playgrounds, like Perricone Park, and the central corridor is where many local shops and businesses are clustered. A downtown redevelopment plan offers incentives for revitalized businesses, and there is a citywide recycling and solar energy program.