Rent to own Homes in Brookfield, IL
A bustling village suburb just west of Chicago, Brookfield was originally named Grossdale until residents felt the name no longer represented their beautiful town. A contest was held and the new name of Brookfield chosen, paying homage to Salt Creek. Residents can take in the wonders of nature within the shadows of the towns oak savanna, a grassland that not only offers aesthetic but also wildlife that can be seen rustling about in the adjacent green space.
Brookfield, IL is a great place for affordable rent-to-own homes! With a median household income of over $84,891 and a median rent of $1,058, the Brookfield, 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 Brookfield, 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 Brookfield, IL Property Resources
Rent to own Homes in Cities Near Brookfield, IL
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- Bedford Park
- Berkeley
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- Chicago Heights
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- Elmhurst
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- Indian Head Park
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- Oak Brook
- Oakbrook Terrace
- Oak Forest
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Neighborhoods in Brookfield, IL
Brookfield rent to own homesPopular Zip Codes in Brookfield, IL
60513 rent to own homesBuying a Home in Brookfield, IL
Brookfield, IL is seeing rapid growth and Brookfield, IL's' housing market remains not optimal with an average home price that is 22% above the 2024 national average. Brookfield, IL is part of Cook 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 Cook is 1.38% which is above the national average, which is 0.99%.
Median Home Price in Brookfield, IL
Median Rent in Brookfield, IL
Top 3 Reasons to Live in Brookfield
Tap into your inner child! The area has many attractions that will take you back to your youth. Head to the Brookfield Zoo for the afternoon and watch exotic animals from all over the globe. The Galloping Ghost Arcade provides hours of entertainment in the form of an all-you-can-play day pass, which allows you to hit the pinball machines at your leisure and earn the top score on a vintage QBert machine. After all of the stimulation, stroll over to Ice Cream Planet and pick up a 3-gallon tub for the whole family or single-serve favorites before or after dinner if you're not trying to ruin your appetite. If you're seeking the perfect place to wind down after all of the excitement, head to Salt Creek Wine Bar, which offers various wine flights, cheese and charcuterie options, live entertainment, and a large menu that includes pizza, pasta, and sandwiches.
Find affordable housing! It's simple to find homes for sale in great areas. Neighborhoods bordering Prairie Avenue and Brookfield boast median home prices of $227,119 and monthly rental costs of $887, which is lower than 40.7 percent of other Illinois communities. Nearby coffee purveyors, Loca Mocha cafe, lend a morning jolt to the community and The Irish Times Pub features a beer garden and Friday night fish fry as well as draught Guinness and neighborhood allure.
Properties that climb in value! With an annual appreciation rate of three percent, the area sees steady growth in home values. Secure a rent to own property in the area surrounding 31st Street and Golfview Roads and enjoy a large single-family home that will pay off in the future. The area offers proximity to the zoo, Brookfield Woods and Salt Creek, and entertainment options are never far from your front porch at local haunts like the Blue Water Lounge.