Located in the Central Valley, Fresno, California, is a mix of students, families, agricultural workers and professionals. Enjoying a youthful population with a median age of 29.3 years, Fresno is an excellent place for young adults to make their way in the world. Multiple college campuses, including California State University, a variety of sports, recreation and lifestyle amenities, and plenty of wide-open spaces make Fresno a unique place within a state that usually boasts dense cities or rural pastures. The cost of living is also relatively low for California, attracting new homeowners hoping to scoop up property that will appreciate steadily while also giving them space to begin a family. Fresno is a fantastic choice as a place to settle down while meeting diverse individuals.
Fresno, CA is a great place for affordable rent-to-own homes! With a median household income of over $53,368 and a median rent of $1,041, the Fresno, 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 Fresno, 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.
Fresno, CA is seeing rapid growth and Fresno, CA's' housing market remains not optimal with an average home price that is 18% above the 2023 national average. Fresno, CA is part of Fresno 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 2023 for county Fresno is 0.65% which is below the national average, which is 0.99%.