Rent to own Homes in Los Angeles, CA
Los Angeles was originally named "El Pueblo de la Reyna de Los Angeles," which translates to The Town of the Queen of Angels, when it was founded by a group of 44 men, women, and children on September 4, 1781. L.A., or "La La Land," as it is fondly referred to, was captured by the United States during the Mexican War of 1846 and was incorporated as a U.S. city on April 4, 1850. The City of Angels is no longer a small Spanish colony. It currently boasts a population of nearly four million residents, making it the second-most populous city in the United States.
Los Angeles has a diverse economy with industries such as high tech, aerospace, advanced transportation, manufacturing, international trade, arts, design, entertainment, media, and many others. The city has a host of Fortune 500 and Fortune 1000 companies with plenty of job opportunities. L.A. encompasses 468.67 square miles and is the sixth-largest city by land area in the United States. Average year-round temperatures range between 48° and 85°, with warm weather from May through the middle of October. There is plenty of room for both current residents and newcomers in the city. If you're considering relocating to a new city, come to L.A., where you'll find plenty of rent-to-own opportunities.
Los Angeles, CA is a great place for affordable rent-to-own homes! With a median household income of over $65,290 and a median rent of $1,523, the Los Angeles, 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 Los Angeles, 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.
Showing 1 - 44 of 300
More Los Angeles, CA Property Resources
Rent to own Homes in Cities Near Los Angeles, CA
- Acton
- Agua Dulce
- Alhambra
- Alondra Park
- Altadena
- Arcadia
- Artesia
- Avocado Heights
- Baldwin Park
- Bell
- Bell Canyon
- Bellflower
- Bell Gardens
- Beverly Hills
- Bradbury
- Burbank
- Calabasas
- Carson
- Cerritos
- Commerce
- Compton
- Cudahy
- Culver City
- Del Aire
- Downey
- Duarte
- East Los Angeles
- East Pasadena
- East Rancho Dominguez
- East San Gabriel
- El Monte
- El Segundo
- Florence-Graham
- Gardena
- Glendale
- Hacienda Heights
- Hawthorne
- Hermosa Beach
- Hidden Hills
- Huntington Park
- Industry
- Inglewood
- Irwindale
- La Cañada Flintridge
- La Crescenta-Montrose
- Ladera Heights
- Lakewood
- La Puente
- Lawndale
- West Athens
Neighborhoods in Los Angeles, CA
Vernon-Main rent to own homes Central San Pedro rent to own homes Atwater Village rent to own homes Baldwin Hills rent to own homes Bel Air rent to own homes Beverly Glen rent to own homes Century City rent to own homes Beverly Crest rent to own homes Beverlywood rent to own homes Boyle Heights rent to own homesBuying a Home in Los Angeles, CA
Los Angeles, CA is seeing rapid growth and Los Angeles, CA's' housing market remains not optimal with an average home price that is 208% above the 2023 national average. Los Angeles, 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 2023 for county Los Angeles is 0.59% which is below the national average, which is 0.99%.
Median Home Price in Los Angeles, CA
Median Rent in Los Angeles, CA
Average Cost of Living in Los Angeles
Los Angeles is an amazing place to live, but all the fun and games come with a price tag. The overall cost of living in the city is 23.4% higher than the California average and more than 70% higher than the rest of the United States' average. The cost of living in nearby Pasadena is nearly 40% higher than the state average and 88.6% higher than the national average. In La Mirada, which is also not far from Los Angeles, the cost of living is 8.4% and 58.3% higher than the state and national averages, respectively.
Average Home Prices in Los Angeles
Housing isn't cheap in Los Angeles either. The median price for a home in the city will cost you $689,500. That's significantly more than the state average of $552,800 and nearly 300% higher than the national average of $231,200. The median price of a home in Pasadena is $815,600, which is $262,800 higher than the average price in California and 352.8% higher than the rest of the country's average. Average homes in La Mirada will cost you $583,400. That's still more than $30,000 higher than the state average and 152.3% more than the national average. While it might not be the cheapest place in the country to buy a home, there are many rent-to-own options available in the city.
Los Angeles Statistics
If you're interested in Los Angeles rent-to-own homes, don't forget to consider important factors in addition to monthly living costs, such as average commute, taxes, crime rates, etc. The following are some common Los Angeles statistics compared to the U.S. national average.
| Los Angeles Averages | National Averages | |
|---|---|---|
| One-Way Commute | 30.9 minutes | 26.4 minutes |
| Violent Crime | 29.1 | 22.7 |
| Property Crime | 35.1 | 35.4 |
| Unemployment Rate | 5.1% | 3.9% |
| Income Tax Rate | 9.3% | 4.6% |
| Air Quality | 36 | 58 |
| Water Quality | 52 | 55 |
| Median Household Income | $49,682 | $53,482 |
| Median Property Taxes | $4,900 | $2,200 |
| Utilities | $110/month | $112/month |
| Monthly Rent | $1,375 | $1,470 |
| Median Home Cost | $689,500 | $231,200 |
| Median Home Age | 53 years | 40 years |
Popular Amenities and Attractions in Los Angeles
There's a game going on in Los Angeles every season of the year. The Rams, Chargers, Clippers, Lakers, Dodgers, Kings, and Galaxy are all professional sports teams - some with long histories of rivalries and success. The city is even loaded with NCAA teams and has a lot of college football and basketball pride.
There are plenty of activities and sights to see in the city if you're not into sports. Check out the famous "Hollywood" sign and walk through the neighborhood's popular streets - you never know which famous actor you'll bump into on a given day. Go to Disneyland Park to enjoy the rides and shows or to see your favorite cartoon characters come to life. Check out the Griffith Observatory to enjoy views ranging from Downtown L.A. to the Pacific Ocean. And if you're just in the mood to bask in the sun, you can join the masses and spend your daylight hours at the beach. When you're ready to call it a day, there's no shortage of restaurants to satisfy your culinary desires.
There's so much more to do and see in La La Land. More than 50 million people visit Los Angeles every year. It is a massive city with a vibrant downtown, an excellent nightlife, and a diverse, accepting population. Everyone is welcome in the City of Angels. If you like sunny weather and are looking for a great community with rent-to-own home opportunities, come to El Pueblo de la Reyna de Los Angeles - The Town of the Queen of Angels.