Rent to own Homes in Arroyo Grande, CA
Arroyo Grande is a small coastal city of 17,252 located in San Luis Obispo County, California. It is situated just north of Santa Maria on the Pacific shoreline and is popular for its pedestrian-friendly downtown and beautiful Victorian architecture. The town is known for its vineyards, which are a popular tourist attraction for those who want to sample the local wine. Notable residents have included Hollywood actor Zac Efron.
Arroyo Grande, CA is a great place for affordable rent-to-own homes! With a median household income of over $88,068 and a median rent of $1,557, the Arroyo Grande, CA 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 Arroyo Grande, CA. 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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Arroyo Grande, CA is seeing rapid growth and Arroyo Grande, CA's' housing market remains not optimal with an average home price that is 180% above the 2024 national average. Arroyo Grande, CA is part of San Luis Obispo 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 San Luis Obispo is 0.58% which is below the national average, which is 0.99%.
Median Home Price in Arroyo Grande, CA
Median Rent in Arroyo Grande, CA
Top 5 reasons to live in Arroyo Grande, CA
A stable real estate market! Unlike other locations in California, Arroyo Grande emerged relatively unscathed from the recession and housing crash. The town's prime location and desirable lifestyle means that demand for property is high. The median sale price in the town is significantly above the California average at $489,200, compared to $383,900 elsewhere in the state, which amounts to a difference of 27.4 percent. Property values have increased by 26.7 percent in the past 24 months, and the trend is likely to continue. Property values are particularly high around Husana Road and Branch Mill Road in the northern section of the town.
Beautiful coastal location! Arroyo Grande enjoys a favorable Mediterranean climate that is never too cold and never too warm. It's stunning location is close to the Pacific Ocean and just a few minutes walk from Grover Beach. Properties on James Way and Rancho Pike Way enjoy excellent ocean views.
The local vineyards! Connoisseurs and those with an undeveloped palate will be equally happy with the offerings of Arroyo Grande's wine country, which offers Pinot Noir, Cabernet Sauvignon and Chardonnay. There are a number of local vineyards on the edge of town, including the Phantom Rivers Winery on East Branch Street and Weddell Cellars on Equestrian Way.
Affordable rental accommodations! Renting a home in Arroyo Grande is more affordable than you might think. Although the median house prices are significantly above the California average, median rents are actually lower than elsewhere in the state. The typical monthly rent in Arroyo Grande is $1,178, lower than the $1,209 California median price. The single floor properties close to South Elm Street and South Halcyon Street are popular choices for people who are considering rent to own options.
The dining! Arroyo Grande has an abundance of high quality eateries. Local favorites include Frutiland La Casa Del Sabor, known for its fresh Mexican seafood tacos and tortas, and Alphy's Broiler, a popular American diner.