Rent to own Homes in Orlando, FL
Orlando, Florida, is an ideal place to purchase an affordable rent-to-own home for you and your family. With key investment stats like increased cash flow, steady population growth, and a thriving job market, Orlando's affordable housing creates an excellent situation for those looking to purchase a rent-to-own home. With a median household income of $52,000 and a median rent of $1,196, there are plenty of opportunities to find your next dream home! Low median rent prices mean you can save more a month, making it easier to both afford the down payment at the end of the lease agreement but potentially qualify for better loans with low-interest rates when the time comes to purchase the home. There are also payment assistance programs available in Orlando and for the state of Florida, meaning that low-income families and those struggling to rebuild their credit scores after pandemic shut-downs can get help purchasing their homes.
Orlando, FL is a great place for affordable rent-to-own homes! With a median household income of over $55,183 and a median rent of $1,253, the Orlando, 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 Orlando, 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.
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Rent to own Homes in Cities Near Orlando, FL
- Altamonte Springs
- Astatula
- Bay Hill
- Belle Isle
- Bithlo
- Black Hammock
- Campbell
- Celebration
- Chuluota
- DeBary
- Doctor Phillips
- Eatonville
- Edgewood
- Eustis
- Fairview Shores
- Ferndale
- Forest City
- Four Corners
- Goldenrod
- Groveland
- Heathrow
- Holden Heights
- Horizon West
- Hunters Creek
- Kissimmee
- Lake Buena Vista
- Lake Hart
- Lake Mary
- Lake Mary Jane
- Lockhart
- Loughman
- Maitland
- Montverde
- Mount Dora
- Oakland
- Oak Ridge
- Orlando
- Orlovista
- Pine Hills
- Rio Pinar
- Sanford
- Southchase
- St. Cloud
- Tangerine
- Wekiwa Springs
- Williamsburg
- Windermere
- Winter Park
- Winter Springs
- Yalaha
Neighborhoods in Orlando, FL
33rd Street Industrial rent to own homes Airport North rent to own homes Audubon Park rent to own homes Carver Shores rent to own homes Baldwin Park rent to own homes Belle Air rent to own homes Boggy Creek rent to own homes Brunetti South rent to own homes Bryn Mawr rent to own homes Callahan rent to own homesBuying a Home in Orlando, FL
Orlando, FL is seeing rapid growth and Orlando, FL's' housing market remains not optimal with an average home price that is 21% above the 2023 national average. Orlando, FL is part of Orange 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 Orange is 0.94% which is below the national average, which is 0.99%.
Median Home Price in Orlando, FL
Median Rent in Orlando, FL
Average Cost of Living in Orlando
The overall average cost of living in Orlando is 1.3% higher than the rest of Florida and 4.1% more than the United States average. While it's not the cheapest place to live, it is close enough to average - especially when you factor in the city's popularity and amenities. Nearby cities have varying costs. In Kissimmee, the cost of living is 4.1% lower than the state average and 1.3% lower than the U.S. average. Maitland's cost of living is 16% higher than other parts of Florida and 18.8% higher than the national average. Overall, Orlando is an affordable place to live.
Average Home Prices in Orlando
An average home in Orlando costs $245,400, which is 3.5% higher than the state's average of $237,100 and 6.1% higher than the national average of $231,200. By comparison, the median cost in Maitland is $361,900, which is 53.9% higher than other parts of the state and 56.5% higher than the rest of the country. Kissimmee, where a home costs $220,100, is 7.4% and 4.8% lower than the state and national averages, respectively. It's surprising that a city like Orlando, with such a high population growth rate, should have such an affordable housing market with plenty of rent-to-own opportunities.
Orlando Statistics
If you're interested in Orlando 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 Orlando statistics compared to the U.S. national average.
| Orlando Averages | National Averages | |
|---|---|---|
| One-Way Commute | 25.4 minutes | 26.4 minutes |
| Violent Crime | 44.1 | 22.7 |
| Property Crime | 81.0 | 35.4 |
| Unemployment Rate | 2.9% | 3.9% |
| Income Tax Rate | 0% | 4.6% |
| Air Quality | 39 | 58 |
| Water Quality | 60 | 55 |
| Median Household Income | $45,436 | $53,482 |
| Median Property Taxes | $2,430 | $2,200 |
| Utilities | $180/month | $112/month |
| Monthly Rent | $1,140 | $1,470 |
| Median Home Cost | $245,400 | $231,200 |
| Median Home Age | 26 years | 40 years |
Popular Amenities and Attractions in Orlando
Walt Disney World is the most popular vacation resort globally, with more than 58 million visitors a year. There's an endless amount of fun to be had at Disney World and its theme parks. You can stay at the World Resort® or one of the many nearby affordable hotels, but make sure that you visit for at least a few days. At Magic Kingdom, you'll get to see Mickey Mouse, Cinderella, and all your favorite Disney fantasy characters, and enjoy rides, food, and plenty of entertaining events. The Epcot Center will blow you away with space travel, aquatic life, innovation, rides, and more. Visit Hollywood Studios and check out the many exhibits based on all of the most popular Disney movies. If you like zoos, you'll adore Animal Kingdom, where you can truck through the Kilimanjaro Safari, experience the Maharaja Jungle Trek, raft in the Kali River Rapids, or check out Pandora, where you'll begin to wonder if you're still on Planet Earth.
If you're into relaxation, fitness, or health, you're in luck. Orlando might not be located along the Atlantic coast, but it has more than 100 parks, 21 community centers, and over 100 lakes - one of which is a skate park. These are astounding numbers for a city its size. Go boating, fishing, swimming, biking, have a picnic, or play sports - you won't have to wait for your turn because there's plenty of room for everyone.
Orlando is one of the top 10 places to start a business, has a broad job market, plenty of schools, and retirement villages. There are plenty of eateries, shops, and places to enjoy. Whatever stage of life you're in, if you're looking for great places to live with rent-to-own opportunities, the City Beautiful should be high up on your list.