Rent to own Homes in San Luis Obispo, CA

Houses are worth more. Home values have gone up by almost 15% in the past year alone, and they're expected to increase by 6% in the coming year. The average home was built in 1975, with 1,601 square feet and property taxes at $3,204. Look for homes for rent, houses for purchase or rent-to-own homes in Alta Vista or Edna Islay.

San Luis Obispo, CA is a great place for affordable rent-to-own homes! With a median household income of over $58,546 and a median rent of $1,611, the San Luis Obispo, 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 San Luis Obispo, 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.

Check out San Luis Obispo, CA rent to own homes for sale, which may include auction properties, for sale by owner, and more.
Showing 1 - 44 of 176
1144 WALNUT ST #4
Rent to Own Eligible
Mill Street Historic District
Townhouse/Condo
San Luis Obispo, CA 93401
2
2
1374 ft2
2005
New
1 of 23 2478 Victoria Ave
Rent to Own Eligible
Broad Street
Townhouse/Condo
San Luis Obispo, CA 93401
2
3
1348 ft2
2019
1750 PREFUMO CANYON RD
Rent to Own Eligible
Billygoat Acres
Townhouse/Condo
San Luis Obispo, CA 93405
3
2
1056 ft2
1973
New
2375 ALPHONSO AVE # 104
Rent to Own Eligible
Downtown Slo
Townhouse/Condo
San Luis Obispo, CA 93401
2
3
1348 ft2
2022
New
2375 Victoria Ave
Rent to Own Eligible
Broad Street
Townhouse/Condo
San Luis Obispo, CA 93401
2
3
1600 ft2
1 of 26 842 TARRAGON LN
Rent to Own Eligible
South Broad Street
Townhouse/Condo
San Luis Obispo, CA 93401
2
3
1785 ft2
2009
New
5280 WINDMILL WAY
Rent to Own Eligible
 
Single Family Home
San Luis Obispo, CA 93401
2
1
1150 ft2
1930
New
1091 GRIEB DR
Rent to Own Eligible
 
Townhouse/Condo
Arroyo Grande, CA 93420
1
1
703 ft2
1979
1 of 25 1190 SANTA YNEZ AVE
Rent to Own Eligible
 
Townhouse/Condo
Los Osos, CA 93402
2
2
864 ft2
1987
New
547 N 9TH ST
Rent to Own Eligible
 
Single Family Home
Grover Beach, CA 93433
3
1
1092 ft2
1959
New
1195 SAN LUIS AVE
Rent to Own Eligible
 
Single Family Home
Los Osos, CA 93402
3
2
1430 ft2
1975
New
256 SARATOGA AVE
Rent to Own Eligible
 
Single Family Home
Grover Beach, CA 93433
2
1
1037 ft2
1956
1095 LONGBRANCH AVE
Rent to Own Eligible
 
Single Family Home
Grover Beach, CA 93433
3
2
1456 ft2
1989
542 MANHATTAN AVE
Rent to Own Eligible
 
Single Family Home
Grover Beach, CA 93433
2
1
840 ft2
1978
New
1 of 10 1012 BADEN AVE
Rent to Own Eligible
 
Townhouse/Condo
Grover Beach, CA 93433
2
1
876 ft2
1983
New
889 NAPLES ST
Rent to Own Eligible
 
Single Family Home
Grover Beach, CA 93433
3
2
1166 ft2
1998
New
550 MITCHELL DR
Rent to Own Eligible
 
Single Family Home
Los Osos, CA 93402
2
1
888 ft2
1963
388 ALDER ST
Rent to Own Eligible
 
Single Family Home
Arroyo Grande, CA 93420
3
2
1447 ft2
1971
New
506 CARMELLA DR
Rent to Own Eligible
 
Single Family Home
Arroyo Grande, CA 93420
3
2
1281 ft2
1168 PACIFIC BLVD
Rent to Own Eligible
 
Single Family Home
Oceano, CA 93445
3
2
1470 ft2
1992
524 BAKEMAN LN
Rent to Own Eligible
 
Single Family Home
Arroyo Grande, CA 93420
2
2
1113 ft2
1983
New
1960 SOLANA CT
Rent to Own Eligible
 
Single Family Home
Grover Beach, CA 93433
3
2
1206 ft2
1986
New
1306 AVENIDA PELICANOS
Rent to Own Eligible
 
Single Family Home
Oceano, CA 93445
3
3
1490 ft2
1995
444 PIER AVE #41
Rent to Own Eligible
 
Townhouse/Condo
Oceano, CA 93445
1
1
562 ft2
2001
1329 23RD ST
Rent to Own Eligible
 
Single Family Home
Oceano, CA 93445
3
2
1504 ft2
2002
963 BALBOA ST
Rent to Own Eligible
 
Single Family Home
Morro Bay, CA 93442
2
1
770 ft2
1942
1565 FOUNTAIN AVE
Rent to Own Eligible
 
Single Family Home
Oceano, CA 93445
2
1
740 ft2
1920
9115 ARBOL DEL ROSAL WAY
Rent to Own Eligible
 
Townhouse/Condo
Atascadero, CA 93422
3
3
1863 ft2
2007
Hot New
240 PACIFIC ST
Rent to Own Eligible
 
Townhouse/Condo
Morro Bay, CA 93442
2
2
768 ft2
1930
New
9174 PATO LN
Rent to Own Eligible
 
Townhouse/Condo
Atascadero, CA 93422
3
2
1685 ft2
2014
New
9319 MUSSELMAN DR
Rent to Own Eligible
 
Townhouse/Condo
Atascadero, CA 93422
2
3
1326 ft2
1991
Hot
1 of 11 675 PAULA ST
Rent to Own Eligible
 
Single Family Home
Morro Bay, CA 93442
2
1
1104 ft2
1947
1 of 20 8606 SANTA ROSA RD
Rent to Own Eligible
 
Single Family Home
Atascadero, CA 93422
3
1
1137 ft2
1983
9288 EL BORDO AVE
Rent to Own Eligible
 
Townhouse/Condo
Atascadero, CA 93422
2
2
1335 ft2
1993
2416 MAIN ST #2
Rent to Own Eligible
 
Townhouse/Condo
Morro Bay, CA 93442
1
1
1242 ft2
2020
450 PICO ST
Rent to Own Eligible
 
Single Family Home
Morro Bay, CA 93442
2
1
846 ft2
1952
9420 CASA BELLA CT
Rent to Own Eligible
 
Single Family Home
Atascadero, CA 93422
3
3
1515 ft2
2007
9105 COROMAR CT
Rent to Own Eligible
 
Single Family Home
Atascadero, CA 93422
3
2
1291 ft2
2014
New
2850 ELM AVE
Rent to Own Eligible
 
Single Family Home
Morro Bay, CA 93442
2
1
720 ft2
1967
1 of 21 309 SEQUOIA ST
Rent to Own Eligible
 
Townhouse/Condo
Morro Bay, CA 93442
2
2
1206 ft2
1984
New
9305 SANTA LUCIA RD
Rent to Own Eligible
 
Single Family Home
Atascadero, CA 93422
3
2
1254 ft2
1983
1 of 53 5445 ENCINO AVE
Rent to Own Eligible
 
Single Family Home
Atascadero, CA 93422
3
2
1898 ft2
2006
5720 HERMOSILLA AVE
Rent to Own Eligible
 
Single Family Home
Atascadero, CA 93422
2
1
966 ft2
1959
5189 ALAMO AVE
Rent to Own Eligible
 
Single Family Home
Atascadero, CA 93422
3
3
2325 ft2
1990
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Buying a Home in San Luis Obispo, CA

San Luis Obispo, CA is seeing rapid growth and San Luis Obispo, CA's' housing market remains not optimal with an average home price that is 205% above the 2024 national average. San Luis Obispo, CA is part of San Luis Obispo 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 San Luis Obispo is 0.58% which is below the national average, which is 0.99%.

Median Home Price in San Luis Obispo, CA

Median Rent in San Luis Obispo, CA

Rent to own homes offer low monthly payments and flexible terms.

9 Reasons to Live in San Luis Obispo CA

Distinctive theaters. The city takes pride in theaters that are architecturally or technologically significant. The Fremont Theater is an Art Deco beauty that opened in 1942. It still serves as a theater and concert hall. With the installation of 98 solar panels in 2004, the Palm Theater became the first movie theater in the country to be powered by the sun.

Get into the market. Now's a great time to buy a home that's rent-to-own or financed. Homes are selling for almost 10% less than their asking prices. Median list is at $589,900 and median sale price is at $535,700. Areas like Emerald Hills and Foothill offer lots of homes to choose from.

Hear and see the best. In the summer, sounds of classical music fill the air during the ten-day Festival Mosaic. Venues include the Mission San Luis Obispo de Tolosa. The visual senses receive their stimulation in the early spring during the San Luis Obispo International Film Festival.

Find a bargain. Median list prices bottomed out in early 2013 before peaking in July of that year and dropping down to their current amount. You can find bargains among the houses for sale because more than two-thirds of the listings already have a price cut, and almost 20% are sold for below the offering price. Look for rent-to-own houses in Highland or Laguna Lake.

More renters means more buying options. Almost two-thirds of the real estate consists of single-family properties. Yet, about 58% of the residents are renters. You can find rentals in Margarita and Lakewood.

Do it in downtown. Take the Old SLO Trolley for a charming way to explore the one-of-a-kind boutiques and well-known chain stores that populate downtown. Find out about the area at several nearby museums, such as the History Center of San Luis Obispo County. Reward all your effort by winding down at spas like the the San Luis ObiSpa.

Relatively new real estate. Over a third of the residential structures were built from 1980 to 1999, and over 10% are from the 21st century. You can find newer homes in areas like Prefumo and Meadow Park.

Enjoy a landmark. You can enjoy superb dining, shopping and playing from just one location if you're at the Madonna Inn. This local landmark, in business in 1958, wows visitors and residents with such events as trails rides. All horses and equipment are provided; you can choose the One-Hour Trail Ride or opt for longer rides on the trails.