Rent to own Homes in Montrose, CO
Incorporated in 1882, the Colorado city of Montrose is home to a residential community of a little under 20,000 people. Within easy reach of the Black Canyon of the Gunnison National Park, this city is big on outdoor adventures. Hiking in summer and skiing in winter is the norm. Montrose residents benefit from a lifestyle that is considered extremely livable, a cost of living that's on par with the national average and plenty of amenities close at hand.
Montrose, CO is a great place for affordable rent-to-own homes! With a median household income of over $52,534 and a median rent of $936, the Montrose, CO 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 Montrose, CO. 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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Montrose, CO is seeing rapid growth and Montrose, CO's' housing market remains not optimal with an average home price that is 7% above the 2023 national average. Montrose, CO is part of Montrose 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 Montrose is 0.43% which is below the national average, which is 0.99%.
Median Home Price in Montrose, CO
Median Rent in Montrose, CO
Top 6 Reasons to Live in Montrose, CO
Stay active! The nearby national park is the obvious choice for recreation, but the city's abundance of recreational spaces ensure you won't have to go far. The Montrose Dog Park and the Niagara Community Garden perfectly complement the city's 29 parks, 30 miles of concrete trails and almost 120 acres of open space.
Glorious scenery! Montrose boasts a stunning location within reach of some of the country's most revered drives. Hit the road at the canyon at the north end of town to explore the 17-mile Bachelor Historic Loop or discover the views from the San Juan Skyway, the so-called road to the sky.
Low rents! At a little more than $800, the average monthly rent in Montrose is lower than the Colorado and national averages. Look out for popular complexes such as Sunshine Peak Apartments and Pavilion Gardens Apartments for a home in this price range. If you plan on sticking around, it's worth looking at rent to own options.
Dig into delicious local dining! Townsend Avenue boasts numerous local dining options. Grab a wholesome breakfast at Starvin Arvins or indulge a craving for something sweet at the Dairy Queen Brazier. The Stone House on Hawk Parkway and Ted Nelson's Steak House on Rose Lane are ideal for special occasions.
Vibrant downtown area! Historic Downtown Montrose is the ideal way to while away the hours on a day off work or on a weekend. Attend community events such as the Montrose Arts and Craft Festival and the weekly Harvest Market or simply enjoy the sculptures on display as part of the Public Art Experience.
Choice of neighborhoods! Montrose offers a variety of rental homes and a 6 percent vacancy rate ensures you can find your dream digs. Residential areas are found in the West Montrose and East Montrose neighborhoods; if you have your heart set on living downtown, you should be able to find a property there as well.