Rent to own Homes in Isla Vista, CA
Isla Vista, California was formed in 1920 with the construction of three subdivisions near Santa Barbara. One of the subdivisions was called Isla Vista, the name the area is known by today. The community borders the Pacific Ocean and retains a strong beach culture. Isla Vista spans just 0.6 of a mile and is one of the most densely populated areas in California. Its population of just under 24,000 residents is composed largely of college students.
Isla Vista, CA is a great place for affordable rent-to-own homes! With a median household income of over $21,018 and a median rent of $1,662, the Isla Vista, 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 Isla Vista, 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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Isla Vista rent to own homes University of California - Santa Barbara rent to own homesPopular Zip Codes in Isla Vista, CA
93106 rent to own homesBuying a Home in Isla Vista, CA
Isla Vista, CA is seeing rapid growth and Isla Vista, CA's' housing market remains optimal with an average home price that is -100% below the 2024 national average. Isla Vista, CA is part of Santa Barbara 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 Santa Barbara is 0.51% which is below the national average, which is 0.99%.
Median Home Price in Isla Vista, CA
Median Rent in Isla Vista, CA
Top 6 Reasons to Live in Isla Vista, CA
Within walking distance of the beach! Anyone who lives in Isla Vista is within easy walking distance of the beach. The area's Mediterranean-like climate means that it is warm virtually year-round, which makes it possible to visit the beach every day. Del Playa Drive, which runs along the beach, is a hopping site, with stores, pubs and beach-themed diners. The South Coast Deli and the Freebird's World Burrito always draw in hungry beach-goers for a bite to eat.
Businesses that stay open late or 24 hours a day! Most businesses, such as coffee houses and stores, stay open until 2 a.m. or later to serve the large student population, homeowners and renters. Caje and Spudnut Donuts are two favorite local hangout areas.
Bicycling and skateboarding! Residents and visitors alike take advantage the mild weather to bike and skateboard to work or the beach. Isla Vista Bike Boutique and Varsity Bike Shop are two of the hopping local bike shops in the area. Approximately 31 percent of the residents in the town use a bicycle to commute to work.
Racing fun! Every year, Isla Vista is home to the annual Island View Classic bike races. The Isla Vista Marathon also draws community runners and spectators.
Climbing home prices and nature opportunities! Isla Vista boasts some of the most desirable real estate in the nation, and the prices continue to climb. Houses have experienced an appreciation rate of 17.9 percent in the last year. With such rising home prices, the communities in the town have grown. Despite the area's growth, the neighborhoods of Isla Vista are all within walking and biking distance of the town's parks. The parks within Isla Vista boast numerous sport complexes and ample outdoor opportunities. Estero Park has a multi-sports complex where visitors can enjoy baseball, lacrosse, rugby, adult softball, soccer and Frisbee. The Little Acorn Park has a bocce court.
Plenty of rentals options! Approximately 77 percent of the homes in Isla Vista are apartments or rental houses. In some cases, rent to own homes are available. Residents who choose this option set aside a certain amount of money each month toward the purchase price of the home. Encino Road and Seville Road in Isla Vista are two areas that are good places to start search for a rental home. The area around the campus of University of California has numerous rentals that are within walking and biking distance of the campus.