Rent to own Homes in Lompoc, CA
Homes you can afford. Whether you want a rent to own house or one that you purchase outright, options in Lompoc are far more affordable at a median list of $259,900, or $162/square foot, which compares to $413 a square foot in the Santa Barbara metro area. Median sale price is $218,500. Over 38% of homes range from 1,000 to 1,400 square feet, with 29% at 1,400 to 1,800 square feet.
Lompoc, CA is a great place for affordable rent-to-own homes! With a median household income of over $57,071 and a median rent of $1,224, the Lompoc, 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 Lompoc, 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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University Park rent to own homes Downtown Lompoc rent to own homes Lompoc Manor rent to own homes Chincilla Heights rent to own homesPopular Zip Codes in Lompoc, CA
93438 rent to own homesBuying a Home in Lompoc, CA
Lompoc, CA is seeing rapid growth and Lompoc, CA's' housing market remains not optimal with an average home price that is 55% above the 2023 national average. Lompoc, 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 2023 for county Santa Barbara is 0.51% which is below the national average, which is 0.99%.
Median Home Price in Lompoc, CA
Median Rent in Lompoc, CA
Top 8 Reasons to Live in Lompoc
Trail of great taste. The Lompoc Wine Trail tantalizes the taste buds with superb vintages from the local vineyards. Wineries such as Longoria welcome visitors to sample offerings at their tasting rooms. If you're planning on visiting several places in the same day, go as early as 11 a.m. (which is when they open). It gets busier as they day wears on.
Stop and smell the flowers. The area's consistent temperate climate brings out the best in blooms -such as Sweet Peas - during flower season, which runs from May until mid-August. Celebrate with the Lompoc Flower Festival, which is held for five days in June, and features a carnival, food booths, and entertainment. The highlight is the parade, which includes floats made of flowers or natural materials, equestrian units, bands and drill teams. "
Can't lose" home values. Although Lompoc home values bottomed out in early 2012, they've risen over 20.8% in the past year. Prices are predicted to increase by 7.7% in the coming year, which makes investing in real estate a "can't lose" proposition.
Honor history. Historical artifacts and documents find refuge at the Lompoc Valley Historical Society, which has its headquarters at the Fabing-McKay-Spanne House, a Victorian farmhouse decorated in early 1900s style. The property features a Blacksmith Shop in the old garage.
Appreciate art. Lompoc is known as the city of art and you'll find superb works from over 60 local artists at the Cypress Gallery. The largest examples of visual expression appear as exterior murals on both public and private buildings. You can find a map online or in-person at the Gallery or Chamber of Commerce.
Outdoor delight. You can spend an active afternoon or a lazy Sunday at over a dozen parks administered by the city. Johns-Manville Park, for example, contains 6.5 acres of baseball fields, a basketball court, BBQ grills, and mature trees. The enormous Beattie Park ranges over 50 acres and boasts horseshoe pits, disk golf, a fitness trail and horseshoe pits.
Many rent to own options. Almost 75% of the residences consist of single-family homes, and yet almost 50% of the residents are renters. This ups your chances of finding a rent to own home to call your own. Check with an agent from the Lompoc Valley Association of Realtors to find suitable properties.