Rent to own Homes in Lincoln, IL
Lincoln, Illinois is the only town named after President Abraham Lincoln before he became famous with his presidency. Historically, the city was a railroad town and Abe Lincoln was the attorney assigned to the work locally. Following his input into the designs, the people named the town after him. Today, this is a friendly, small town with a lot of amenities and places to live.
Lincoln, IL is a great place for affordable rent-to-own homes! With a median household income of over $48,510 and a median rent of $716, the Lincoln, 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 Lincoln, 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 Lincoln, IL Property Resources
Rent to own Homes in Cities Near Lincoln, IL
- Armington
- Atlanta
- Beason
- Bloomington
- Carlock
- Clinton
- Congerville
- Cooksville
- Danvers
- Deer Creek
- Dewitt
- Downs
- Ellsworth
- El Paso
- Eureka
- Goodfield
- Gridley
- Heritage Lake
- Heyworth
- Hudson
- Kappa
- Kenney
- Le Roy
- Lexington
- Mackinaw
- McLean
- Mc Lean
- Minier
- Normal
- Panola
- Secor
- Shirley
- Stanford
- Towanda
- Twin Grove
- Wapella
- Waynesville
Neighborhoods in Lincoln, IL
No neighborhoods foundPopular Zip Codes in Lincoln, IL
62656 rent to own homesBuying a Home in Lincoln, IL
Lincoln, IL is seeing rapid growth and Lincoln, IL's' housing market remains optimal with an average home price that is -57% below the 2024 national average. Lincoln, IL is part of Logan 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 Logan is 1.9% which is above the national average, which is 0.99%.
Median Home Price in Lincoln, IL
Median Rent in Lincoln, IL
Top 7 Reasons to Live in Lincoln, IL
A leisurely place to live! There are several parks in Lincoln which make it ideal for walking around and keeping fit. Try Kickapoo Park or Edward Madison State Park for a stroll outdoors.
Get more for your money! In Lincoln, the median house price is $89,000, which is significantly less than other parts of Illinois. You can get more space for your money. You can use your leftover money to renovate your new home by going to Lee's Home Furnishings or Jake's Furnishings.
A great community! Main Street in Lincoln is a historic area which the local community revitalized and continue to work towards maintaining. Other historic projects include the Heritage In Flight Museum and the Kickapoo Town village.
Plenty of entertainment! The town of Lincoln has a plethora of entertainment facilities that can appeal to a variety of tastes. Experience some culture at Lincoln Theater and for those who like outdoor fun the Lincoln Speedway will provide a little excitement.
Route 66! If you ever wanted to drive that classic route across the U.S.A. now is your chance. Lincoln is right alongside Route 66 making it popular with visitors and with those who want to drive along this classic road. Stop for a break at one of the restaurants in town, such as Blue Dog Inn or First Wok.
Stable community and low turnover rates! Lincoln has a 12% annual turnover of residents compared to the national average of 18%. This means there could be fewer properties for a rent to own option, but it also signals a strong message that Lincoln residents truly enjoy where they live. Join them and enjoy places like Guzzardo's Italian Villa or the Bonanza Steakhouse.
Proximity to Chicago! The Windy City is a short drive from Lincoln, making it handy for all the big city amenities. You can enjoy smaller town Lincoln knowing you have the best of both worlds with places like Palm's Grill and Korn Krib.