Long Beach, California, is a coastal suburb of Los Angeles with about 468,000 residents. Situated south of downtown L.A. and north of Orange County, this city's port is among the busiest shipping ports in the country. For both visitors and residents, what is most exciting about Long Beach's location on the coast is the easy access to the beach, cruise ships, and attractions like the Queen Mary. In addition, this city is just minutes away from Hollywood, Disneyland, Knott's Berry Farm, and other famous attractions.
Long Beach, CA is a great place for affordable rent-to-own homes! With a median household income of over $66,410 and a median rent of $1,391, the Long Beach, 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 Long Beach, 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.
Long Beach, CA is seeing rapid growth and Long Beach, CA's' housing market remains not optimal with an average home price that is 169% above the 2022 national average. Long Beach, CA is part of Los Angeles 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 2022 for county Los Angeles is 0.59% which is below the national average, which is 0.99%.
Long Beach, CA has a walk score of
Long Beach, CA has a bike score of
The state tax rate is 1.0 to 12.3% on top of the federal tax rate of 10 to 37%.