Rent to Own Homes in Orlando, FL
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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.
Search for rent to own homes in cities near Orlando, FL
- Alafaya
- Altamonte Springs
- Apopka
- Astatula
- Azalea Park
- Bay Hill
- Bay Lake
- Belle Isle
- Bithlo
- Buenaventura Lakes
- Campbell
- Celebration
- Doctor Phillips
- Eatonville
- Edgewood
- Ferndale
- Fern Park
- Forest City
- Four Corners
- Goldenrod
- Gotha
- Holden Heights
- Howey-in-the-Hills
- Hunters Creek
- Lake Buena Vista
- Lake Hart
- Lake Mary Jane
- Lockhart
- Maitland
- Meadow Woods
- Montverde
- Mount Plymouth
- Oak Ridge
- Orlovista
- Paradise Heights
- Pine Castle
- Pine Hills
- Rio Pinar
- Sanford
- Sky Lake
- Sorrento
- Southchase
- Taft
- Tildenville
- Union Park
- University
- Wedgefield
- Wekiwa Springs
- Williamsburg
- Windermere
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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.
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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.
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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.
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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.