Rent to own Homes in Decatur, IL
Decatur, Illinois, was founded in 1829. Known as "The Soybean Capital of the World," Decatur is home to just over 76,000 people. Education is big in Decatur: Millikin University and Richland Community College help keep the population young and energetic. Both Abraham Lincoln and agriculture juggernaut Archer Daniels Midland lived in Decatur at one time.
Decatur, IL is a great place for affordable rent-to-own homes! With a median household income of over $45,404 and a median rent of $688, the Decatur, 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 Decatur, 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 Decatur, IL Property Resources
Rent to own Homes in Cities Near Decatur, IL
- Argenta
- Assumption
- Beason
- Bethany
- Blue Mound
- Boody
- Cerro Gordo
- Chestnut
- Cisco
- Clinton
- Dalton City
- Decatur
- Dewitt
- Elwin
- Forsyth
- Harristown
- Illiopolis
- Kenney
- Lake City
- Lane
- LaPlace
- Latham
- Long Creek
- Lovington
- Macon
- Maroa
- Milmine
- Mount Auburn
- Mount Pulaski
- Mount Zion
- Moweaqua
- Mt Zion
- Niantic
- Oreana
- Stonington
- Taylorville
- Warrensburg
Neighborhoods in Decatur, IL
GM Square rent to own homes Hess Park rent to own homes Sims rent to own homes Wabash Crossing rent to own homes Spencer Park rent to own homes Hill Crest rent to own homes Highland Place rent to own homes NE rent to own homes Old King's Orchard rent to own homes French Quarters rent to own homesPopular Zip Codes in Decatur, IL
62524 rent to own homes 62525 rent to own homes 62521 rent to own homes 62523 rent to own homesBuying a Home in Decatur, IL
Decatur, IL is seeing rapid growth and Decatur, IL's' housing market remains optimal with an average home price that is -61% below the 2024 national average. Decatur, IL is part of Macon 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 Macon is 2.01% which is above the national average, which is 0.99%.
Median Home Price in Decatur, IL
Median Rent in Decatur, IL
Top Reasons to Live in Decatur IL
Housing statistics Decatur is popular because of its affordable housing costs. In 2009, the average price of a home was just over $123,000. The average cost for the 13 new construction homes for sale in 2011 was just $172,000. The average rental rate was just $449. Approximately a third of the houses here are rentals, with 56 percent being owner-occupied and another 10.49 percent being vacant. High vacancy rates help rents stay low and increase the chances of rent to own houses hitting the market.
Arts and Culture Arts and culture play very important roles in the lifestyle of the people living in Decatur. There are a number of museums here, including the African-American Cultural and Genealogical Society of Illinois Museum, the Birks Museum, the Children's Museum of Illinois, and Macon County Museum. There are also a number of smaller galleries exploring the area's thriving art scene. The culture of the city covers a number of areas such as sports, music, library, professional golf, high school basketball, softball and the media. Both sports and music play a very important role in the community. Decatur was the original home of the Chicago Bears, and its municipal band, which was established in 1857, is the oldest in the country.
Weather and Climate Decatur is noted for its full four-season climate, experiencing both hot and humid summers with temps up to 89 degrees F and cold, snowy winters that get down to an average of 19 degrees F. There's roughly 108 days of precipitation each year, providing an average of 38 inches of snow and 35 inches of rain annually. The city's residents also get the benefit of 199 sunny days a year.
Neighborhoods Decatur has had problems with crime in some areas over recent years, garnering itself the nickname, "Little Chicago." Here are two neighborhoods in the city you should know about: