Rent to own Homes in Ottumwa, IA
Ottumwa is a city that grew to its current size almost solely due to the coal mining industry, but its history consists of much more than compressed and fossilized dead plants. From the huge Flood of 1851 to visits from five different presidents along the campaign trail, Ottumwa is a rarely heard of city that manages to stay relevant. After all, if Teddy Roosevelt, Harry Truman and Barack Obama all think the city is worth the visit, it really must be.
Ottumwa, IA is a great place for affordable rent-to-own homes! With a median household income of over $42,418 and a median rent of $765, the Ottumwa, IA 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 Ottumwa, IA. 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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Ottumwa, IA is seeing rapid growth and Ottumwa, IA's' housing market remains optimal with an average home price that is -65% below the 2026 national average. Ottumwa, IA is part of Wapello 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 2026 for county Wapello is 1.4% which is above the national average, which is 0.99%.
Median Home Price in Ottumwa, IA
Median Rent in Ottumwa, IA
Top 3 Reasons to Live in Ottumwa, IA
Great home values! Ottumwa has the perfect combination of factors related to its home market to make the area a great value for those looking to move. In the past decade alone, the city's house values have appreciated at a rate nearly double the national average. Though this rate has slowed in recent years, it is still going up. Add that to the fact that the median housing cost in the area is nearly 60 percent lower than the national average, and this means those looking to move north near the Ottumwa Municipal Golf Course or south to be near the Des Moines River are all getting a great value.
Artistic endeavors of all kinds! Ottumwa is the place for artists and art lovers of all kinds. This is the location of Twin Galaxies, so those interested in the art of video games will love this place. After all, it was declared the Video Game Capital of the World. For those into more traditional artistic styles, the Bridge View Center has Broadway performances, concerts and movie showings. The center even hosts Bullriders of America events.
Amazingly low cost of living! Whether an individual is looking for rent to own houses or is ready to purchase property, they're going to save money in the area due to the low cost of living. Driven by low housing costs, Ottumwa's cost of living index is a full 22 points lower than the national index. Home prices are exceptionally low, but those looking to rent will save money as well. Whether a person wants a studio apartment near Indian Hills Community College or a three-bedroom house near Railroad Park, they will be paying a 30 to 35 percent lower rental cost than the average person in America.
