Rent to own Homes in Collinsville, IL
Collinsville is a city that straddles two counties -- Madison and St Claire. The small town of approximately 25,000 residents has the distinction of being known as the Horseradish Capital of the World. It is also home to the world's largest ketchup bottle. The iconic Brooks Catsup Bottle Water Tower was built in 1949. As the years passed and it fell to disrepair, the townspeople of Collinsville pulled together and undertook a large volunteer restoration project to restore it to its former glory. It is now on the National Register of Historic Places.
Collinsville, IL is a great place for affordable rent-to-own homes! With a median household income of over $56,250 and a median rent of $867, the Collinsville, 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 Collinsville, 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 Collinsville, IL Property Resources
Rent to own Homes in Cities Near Collinsville, IL
- Affton
- Bella Villa
- Bellefontaine Neighbors
- Bellerive
- Bel-Nor
- Bel-Ridge
- Berkeley
- Beverly Hills
- Black Jack
- Brentwood
- Brooklyn
- Calverton Park
- Castle Point
- Centreville
- Charlack
- Clayton
- Cool Valley
- Country Club Hills
- Dellwood
- Ferguson
- Flordell Hills
- Florissant
- Glasgow Village
- Glen Echo Park
- Hamel
- Hanley Hills
- Hazelwood
- Hillsdale
- Holiday Shores
- Kinloch
- Maplewood
- Mehlville
- Normandy
- Northwoods
- Norwood Court
- Overland
- Pagedale
- Pasadena Park
- Pine Lawn
- St. Louis
- University City
- Uplands Park
- Velda City
- Velda Village Hills
- Vinita Park
- Vinita Terrace
- Webster Groves
- Wellston
- West Alton
- Wilbur Park
Neighborhoods in Collinsville, IL
No neighborhoods foundPopular Zip Codes in Collinsville, IL
62234 rent to own homesBuying a Home in Collinsville, IL
Collinsville, IL is seeing rapid growth and Collinsville, IL's' housing market remains optimal with an average home price that is -41% below the 2024 national average. Collinsville, IL is part of Madison 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 Madison is 1.75% which is above the national average, which is 0.99%.
Median Home Price in Collinsville, IL
Median Rent in Collinsville, IL
Top 4 Reasons to Live in Collinsville, IL
Town festivals bring the community together! As the horseradish capital, each year Collinsville is host to the annual Horseradish Fest. It is estimated that the fields around the town produce approximately 85 percent of the world's horseradish supply. Each autumn, the town throws the annual Italian Fest where townsfolk and visitors gather to enjoy a bevy of Italian food vendors and listen to live music. There is also a parade, a 5K marathon, bike riding events and games.
A low cost of living and an affordable housing market! The cost of living in Collinsville hovers at approximately 14.9 percent lower than the rest of the United States. The average price of a house costs $99,200. Its affordability makes it a popular location for someone to purchase a home or utilize a rent to own house program. With a rent to own home, the renter has a portion of rent set aside each month to go towards the home's purchase. A rent to own contract will often lock in the home's purchase price and keep it from rising. Would-be home owners can contact the local Home Federal Savings & Loan or the Pulaski Bank for mortgage advice.
History and Christmas come alive! Christmas is always a big event for the community of Collinsville. Each year is the annual Holiday House Tour kicks off. The tour begins at the historic Blum House, and then works its way through the town. The Christmas in Collinsville event starts with the yearly tree lighting in downtown and is followed by an appearance by Santa and his reindeer.
Employment increase spurs housing market and brings new residents! Employment in Collinsville has shown positive growth in the last few years. Currently Collinsville's unemployment rate is below that of the national average. With so much affordability, the property market has been spurred and experienced a positive appreciation of 5.30 percent. People seeking to move to the Collinsville area can contact the local moving company of Two Men and a Truck for a helping hand with all their moving needs. Just Right Movers is also a local moving company that serves the Collinsville area.