Rent to own Homes in Callaway, FL
Home to well over 14,000 residents, Callaway is right on the East Bay and only a very short drive to the Grand Lagoon. That's right: residents get to drive past the beach every single day on their way to work. Located adjacent to Panama City, Callaway is the quintessential beach town, so there's never a shortage of things to do. You might have to put up with tourists once in a while, but that's just along the lines of dealing with paparazzi for being a movie star: totally worth it.
Callaway, FL is a great place for affordable rent-to-own homes! With a median household income of over $53,443 and a median rent of $973, the Callaway, FL 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 Callaway, FL. 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.
More Callaway, FL Property Resources
Rent to own Homes in Cities Near Callaway, FL
Neighborhoods in Callaway, FL
Callaway Pines Estates rent to own homes Aqua VIew rent to own homes Baxter Subdivision rent to own homes Bay Front rent to own homes Bayou Estates rent to own homes Boat Race Estates rent to own homes Brittany Woods Park rent to own homes Callaway Point rent to own homes Burketts First Addition To Callaway rent to own homes Callaway Bayou rent to own homesPopular Zip Codes in Callaway, FL
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Callaway, FL is seeing rapid growth and Callaway, FL's' housing market remains optimal with an average home price that is -29% below the 2024 national average. Callaway, FL is part of Bay 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 Bay is 0.61% which is below the national average, which is 0.99%.
Median Home Price in Callaway, FL
Median Rent in Callaway, FL
Top 3 Reasons to Live in Callaway, FL
Historically low purchase prices! Many beachfront cities took a huge hit when the recession occurred, and Callaway wasn't immune. While the home values in America tumbled nearly 5 percent in the last half decade, valuations in Callaway fell over 20 percent. This, however, is great news for those looking for a mortgage in the city or seeking rent to own houses. Because of the drop in values, home prices in the city are over 30 percent lower than the national average, but this past year alone has seen a nearly 4 percent increase in values. This means whether you get a place near Parker or adjacent to Old Bicycle Road, you'll be purchasing a house at a great price with a value that is consistently rising.
Never-ending recreational activities! Seriously, there's really always something to do in the area. Even ignoring the fact that residents can visit the beach and Panama City whenever they want, they also have several parks nearby. Patterson Park, Veterans Park, Collinfurst Park and several others are really within walking distance. The Callaway Recreational Complex is also a short trip from anywhere in the city. And if you're looking for a hot cup of coffee, check out the conveniently located Starbucks on Tyndall Parkway.
Extremely low property taxes! In addition to low home prices, rising valuations and beachfront property, Callaway also has some of the lowest property tax rates you'll come across. In fact, the rate in the city is nearly 45 percent lower than the national average. Whether you use these savings for daily trips down Highway 22 to visit Panama City or for a nice weekly jaunt down to the Saint Andrews State Park Aquatic Preserve, you'll definitely be able to find something to do with these extra dollars in your pocket.