Rent to own Homes in Lake Elsinore, CA
Plenty of boating fun! Lake Elsinore is the largest natural freshwater lake in Southern California. Its Marina has large boat docks and launch facilities, so after spending a day fishing or water skiing, you'll have a place to tie up before you head to your nearby rent to own house. For more watery action, check out the competitive swim programs and events at Mesa Aquatics.
Lake Elsinore, CA is a great place for affordable rent-to-own homes! With a median household income of over $74,490 and a median rent of $1,501, the Lake Elsinore, 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 Lake Elsinore, 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.
More Lake Elsinore, CA Property Resources
Rent to own Homes in Cities Near Lake Elsinore, CA
- Beaumont
- Bonsall
- Camp Pendleton Mainside
- Camp Pendleton North
- Canyon Lake
- Corona
- Coto de Caza
- East Hemet
- Fallbrook
- French Valley
- Good Hope
- Green Acres
- Hemet
- Home Gardens
- Homeland
- Ladera Ranch
- Lake Elsinore
- Lake Forest
- Lakeland Village
- Lake Mathews
- Lakeview
- March Air Reserve Base
- March ARB
- Meadowbrook
- Mead Valley
- Menifee
- Mission Viejo
- Modjeska
- Moreno Valley
- Murrieta
- Nuevo
- Oceanside
- Pala
- Pauma Valley
- Perris
- Rainbow
- Rancho Mission Viejo
- Rancho Santa Margarita
- Riverside
- Romoland
- Sage
- San Clemente
- San Jacinto
- Temecula
- Temescal Valley
- Trabuco Canyon
- Warm Springs
- Wildomar
- Winchester
- Woodcrest
Neighborhoods in Lake Elsinore, CA
Tuscany Hills rent to own homes Country Club Heights rent to own homes Alberhill District rent to own homes Lake Elsinore Business District rent to own homes Riverview District rent to own homes Lake Elsinore Historic District rent to own homes Ballpark District rent to own homes Summerly rent to own homes Canyon Hills rent to own homes Lake Elsinore Hills District rent to own homesBuying a Home in Lake Elsinore, CA
Lake Elsinore, CA is seeing rapid growth and Lake Elsinore, CA's' housing market remains not optimal with an average home price that is 68% above the 2024 national average. Lake Elsinore, CA is part of Riverside 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 Riverside is 0.8% which is below the national average, which is 0.99%.
Median Home Price in Lake Elsinore, CA
Median Rent in Lake Elsinore, CA
Top Reasons to Live in Lake Elsinore, CA
The weather is great year round! Sunshine and sunny outlooks seem to go together and as the weather heats up, the housing market will, too. In Lake Elsinore, buyers can purchase rent to own houses that are expected to increase approximately 20.3% over the next year. Check out homes available near Riverside Drive or Ryan Avenue, both near the State Recreation Park, if you want sunshine and outdoor recreation near your new front door.
Taste the wine! Lake Elsinore lies in the middle of wine country. Sip a smooth sauvignon at Calaway Vineyards, or a pinot grigio at La Rebelde Winery.
Fun dining! Quaint cafes with Main Street charm best describe Lake Elsinore eateries. Try A.J.'s, and don't forget the hush puppies. Another downtown favorite is Rusticana Bistro.
Lots of Hot Air! Take to the skies in a brilliantly colored hot air balloon at the Temecula Valley Hot Air Balloon Festival, or schedule a ride with Adventure Flights.
Low prices, high value! There are still great houses in Lake Elsinore for you to choose from, including rent to own options. They range from charming older properties to contemporary lakefront houses. Median sales prices have climbed 13% over the past year and 33.3% over the past five years, so this is a good time for first-time buyers to get started! Check out the array of homes available near Machado Street or along Grand Avenue.
Catch casino fever! Put on your best poker face and play for keeps at the first poker house in California. The Lake Elsinore Casino is fun, friendly and casual to boot. Plus, the Pala Casino Resort Spa is just down the road if you crave even more action and some relaxation.
Shopping Sprees! Lake Elsinore's charming historic downtown combines quaint shops with modern commodities. For antique hunters, drop into Mora's Antiques and Gifts, or Decor Consignment to find that perfect something for your new home.
Culturally speaking! The area around Lake Elsinore is ripe with cultural opportunities. Palomar Observatory is a private research facility, but opens to the public for tours from April to October. Travel back in time on historic trains at the Orange Empire Train Museum -- just a short drive and a world away from today.
No traffic jams! Most of the folks living in Lake Elsinore don't work there, so you won't have to worry about snarled traffic. The surrounding communities of Riverside, Temecula, Ontario and even South Orange County provide most of the jobs for residents. The lack of traffic explains the popularity of the real estate market -- Lake Elsinore has seen an increase of more than 15% in median sales prices over the last year.
High ownership and occupancy rates! Lake Elsinore enjoys a high 73.8% ownership and occupancy rate. This indicates that more people prefer to stay in a home, providing for a more stable community. Good news if you're in the market for rent to own homes, because your investment will be protected.