Rent to own Homes in Elk Grove Village, IL
Sitting in the northeastern corner of Illinois, Elk Grove Village celebrated its 50th anniversary in 2006 with special celebrations that lasted throughout the entire year. Some of these celebrations included concerts, and others included giving away $400,000 homes. Main point: citizens in Elk Grove Village know how to throw a good party. And in case any of them especially embarrass themselves at one of the city's celebrations, the Chicago O'hare International Airport is nearby to get them out of Dodge quickly.
Elk Grove Village, IL is a great place for affordable rent-to-own homes! With a median household income of over $85,240 and a median rent of $1,307, the Elk Grove Village, 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 Elk Grove Village, 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 Elk Grove Village, IL Property Resources
Rent to own Homes in Cities Near Elk Grove Village, IL
- Bannockburn
- Bedford Park
- Berkeley
- Bridgeview
- Broadview
- Burbank
- Carpentersville
- Downers Grove
- East Dundee
- Elmhurst
- Forest Park
- Gages Lake
- Glendale Heights
- Glen Ellyn
- Glenview
- Golf
- Grayslake
- Green Oaks
- Hainesville
- Hanover Park
- Hawthorn Woods
- Highland Park
- Highwood
- Hodgkins
- Indian Creek
- Knollwood
- La Grange Park
- Lake Barrington
- Lakemoor
- Lake Villa
- Lincolnshire
- Lombard
- Long Lake
- Maywood
- Melrose Park
- Mundelein
- Naperville
- Oak Brook
- Old Mill Creek
- Palatine
- Park City
- Port Barrington
- Rosemont
- Round Lake
- Schaumburg
- Schiller Park
- Volo
- Wauconda
- Westchester
- Willow Springs
Neighborhoods in Elk Grove Village, IL
Elk Grove Village rent to own homesBuying a Home in Elk Grove Village, IL
Elk Grove Village, IL is seeing rapid growth and Elk Grove Village, IL's' housing market remains not optimal with an average home price that is 32% above the 2024 national average. Elk Grove Village, 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 Elk Grove Village, IL
Median Rent in Elk Grove Village, IL
Top 5 Reasons to Live in Elk Grove Village
Fun theme parks! It's always fun to have an exciting theme park within driving distance. If you're feeling swashbuckling, head on over to the Pirates Cove Theme Park. Want out of the boat and into the water? Rainbow Falls Water Park will offer lots of wet and wild fun.
Low property taxes! The property tax rate in Elk Grove Village is about 16 percent lower than the national average, so it's not surprising that the homeownership rate here is over 10 percent higher than the national average. This is great news for those who are looking at rent to own homes since they'll one day be paying these taxes. Regardless of whether you're adjacent to Salt Creek or right near the Oasis Mobile Home Park, you'll be getting an amazing deal on local real estate.
Amazing financial opportunities! Elk Grove Village has an unemployment rate that's a full percentage point lower than the national average. This means that the local economy is bustling, and this always leads to a pleasant place to live. With large local employers like the Alexian Brothers Medical Center and ADP, the financial situation in the village is attractive.
Unique wildlife! Elk Grove Village got its name from the elk that were brought to the area by an early settler. Head east of the Busse Woods Forest Preserve to visit the Busse Forest Elk Pasture. These animals are majestic, and since they're not native to Illinois, you'll be one of the few in the state who actually gets to see these creatures up close.
Home valuations rising! Elk Grove Village's home appreciation rate over the last year has been over quadruple the national average. So whether you want to live near the Salt Creek Golf Club or Majewski Metro Park, you'll be getting your money's worth.