Rent to own Homes in Charleston, IL
Serving as the county seat for Coles County, Charleston is a city of nearly 22,000 people. Many individuals love living there for the mere fact that the unemployment rate is right on par with the national average and thus has an economy that improves along with the rest of the country. Of course, some people also love the idea of living in the city where John Malkovich got his education. However, there's much more than decent economies and famous alumni that make Charleston great.
Charleston, IL is a great place for affordable rent-to-own homes! With a median household income of over $41,436 and a median rent of $716, the Charleston, 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 Charleston, 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 Charleston, IL Property Resources
Rent to own Homes in Cities Near Charleston, IL
Neighborhoods in Charleston, IL
No neighborhoods foundPopular Zip Codes in Charleston, IL
61920 rent to own homesBuying a Home in Charleston, IL
Charleston, IL is seeing rapid growth and Charleston, IL's' housing market remains optimal with an average home price that is -49% below the 2024 national average. Charleston, IL is part of Coles 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 Coles is 1.96% which is above the national average, which is 0.99%.
Median Home Price in Charleston, IL
Median Rent in Charleston, IL
Top 3 Reasons to Live in Charleston, IL
Exceptional valuations in property! Anyone interested in rent to own houses -- or any living arrangement for that matter -- will love the fact that house valuations have been very impressive over the past decade. In fact, Charleston's values have increased more than the national average by about 4 percent. This means those looking to get a place on Lake Charleston can feel confident that the value of their investment will increase. Of course, if you like a view of the water but not necessarily the cool winds coming off such a large lake, you can opt to live over by Cassell Creek.
Lots of history! Rural Illinois has a rich history to it, and for those living in Charleston, this history is easily accessed. Head on over to the Lincoln Log Cabin State Historic Site to see where a famous attorney visited his parents during the 1840s. Oh, he was a president too. You might know him. Abraham Lincoln? Once you get your fill of Lincoln, you can visit the Dudley House Museum to see history a little closer to this century. Oh, you weren't done with Lincoln yet? Well, head on down Highway 16 to see the tallest Abraham Lincoln statue in the world.
Affordable housing! Yes, home valuations in the area are going up, but that doesn't mean that it's expensive to stay in the area. In fact, those who choose to purchase a home in Charleston will on average pay 40 percent lower than the average American home cost. For those looking to rent, with or without the idea of one day owning, there's also great savings to be had. A one-bedroom apartment, for instance, is 35 percent lower monthly than the average in the rest of America. Two-bedroom apartments? It's just about the same. This bit of savings can go a long way on a night out at Roc's Blackfront Restaurant and Lounge followed by a great flick at the AMC Showplace theater in Mattoon.