Rent to own Homes in Addison, IL
Located just west of Chicago, Addison is popular with people who want the advantages of city life without the downside of living in a big city. Addison is not a sleepy suburb though; it has an active life of its own. Residents not only love visiting Chicago but also enjoy the town's nightlife, restaurants and clubs as well as its lower cost of living and slower pace of life.
Addison, IL is a great place for affordable rent-to-own homes! With a median household income of over $68,534 and a median rent of $1,089, the Addison, IL 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 Addison, IL. 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 Addison, IL Property Resources
Rent to own Homes in Cities Near Addison, IL
- Alsip
- Arlington Heights
- Batavia
- Bedford Park
- Bellwood
- Berkeley
- Bridgeview
- Broadview
- Burbank
- Carol Stream
- Carpentersville
- Downers Grove
- East Dundee
- Elmhurst
- Fairmont
- Forest Park
- Glendale Heights
- Glen Ellyn
- Glenview
- Golf
- Hanover Park
- Hawthorn Woods
- Hodgkins
- Hometown
- La Grange Park
- Lake Barrington
- Lincolnshire
- Lockport
- Lombard
- Maywood
- Melrose Park
- Merrionette Park
- Midlothian
- Mokena
- Naperville
- Norridge
- Oak Brook
- Oak Forest
- Palatine
- Palos Heights
- Plainfield
- Ridgewood
- Rockdale
- Rosemont
- Schaumburg
- Schiller Park
- South Elgin
- Westchester
- Willow Springs
- Wilmette
Neighborhoods in Addison, IL
Addison rent to own homesPopular Zip Codes in Addison, IL
60101 rent to own homesBuying a Home in Addison, IL
Addison, IL is seeing rapid growth and Addison, IL's' housing market remains not optimal with an average home price that is 19% above the 2024 national average. Addison, IL is part of DuPage 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 DuPage is 1.71% which is above the national average, which is 0.99%.
Median Home Price in Addison, IL
Median Rent in Addison, IL
6 Reasons to Live in Addison, Illinois
Plenty of things to do and see! Addison is full of museums, parks and special attractions. Residents may enjoy the Friendship Park Conservatory, two zoos, or the Lizzardo Museum of Lapidary Art. Addison is also home to K1 Speed, a unique attraction in which visitors have the opportunity to participate in go-kart races.
Lots of sports stars! Addison has been home to many current and former sports stars. Football fans will be proud to live in the hometowns of pros like Mark Anelli, Roland Harper and DJ Moore. Many local sports bars pay homage to these stars, including the Blue Line Grill and Pyramid Club Restaurant.
Small town living! Addison is a smaller village, currently home to about 36,000 people, which makes it ideal for those who enjoy close relationships with neighbors and friends after move in. Popular neighborhoods include the Village Center and Stone Avenue areas.
Lots of apartments for rent! Those who prefer apartment living will find the perfect place to live among Addison's many apartments for rent, scattered all over the village. Whether you're looking at the West Fullerton or Oak Street areas, you're sure to find an apartment that meets your needs. If you want more privacy, you can find an apartment with only one or two units, while traditional apartments with lots of units are also plentiful.
Close to Chicago! The big city is just a hop, skip and a jump away, but you get all the advantages of small town living when you choose to live in Addison.The Regional Transportation Authority runs trains from Chicago to Addison on a regular basis, and if you'd prefer to drive, Chicago is just an hour away using Highway 290-E.
Lots of rent to own homes! If you want to own your own Addison home, start with a rent to own option. Try the Michael Lane or Lake Street areas if you're in the market for a new house. There are townhouses available for both rent and sale along with condos and single family homes of all sizes.