Rent to own Homes in Maywood, IL
Maywood, a small city with a population of 24,090, is just ten miles west of downtown Chicago. A history lover's dream, Maywood was founded in 1869 and is home to 16 properties that are listed on the National Register of Historic Places. At one point, Maywood was home to the airfield that aviator Charles Lindbergh used during his early career; however, the field is now the site of the renowned Loyola University Medical Center.
Maywood, IL is a great place for affordable rent-to-own homes! With a median household income of over $56,623 and a median rent of $972, the Maywood, 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 Maywood, 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 Maywood, IL Property Resources
Rent to own Homes in Cities Near Maywood, IL
- Alsip
- Bannockburn
- Bedford Park
- Berkeley
- Bridgeview
- Broadview
- Burbank
- Burnham
- Chicago Heights
- Downers Grove
- Elmhurst
- Evanston
- Forest Park
- Frankfort
- Frankfort Square
- Glendale Heights
- Glen Ellyn
- Glenview
- Golf
- Hanover Park
- Highland Park
- Highwood
- Hodgkins
- Hometown
- Indian Head Park
- La Grange Park
- Lincolnshire
- Lockport
- Lombard
- Markham
- Marley
- Maywood
- Melrose Park
- Merrionette Park
- Midlothian
- Mokena
- Naperville
- Niles
- Oak Brook
- Oakbrook Terrace
- Oak Forest
- Palatine
- Palos Heights
- Rosemont
- Schaumburg
- Schiller Park
- Thornton
- Westchester
- Willow Springs
- Wilmette
Neighborhoods in Maywood, IL
Old Town rent to own homes Heritage District rent to own homes East Village rent to own homes Seminary District rent to own homes Downtown Maywood rent to own homes Maybrook Square rent to own homes South Maywood rent to own homes West Village rent to own homesPopular Zip Codes in Maywood, IL
60153 rent to own homesBuying a Home in Maywood, IL
Maywood, IL is seeing rapid growth and Maywood, IL's' housing market remains optimal with an average home price that is -27% below the 2024 national average. Maywood, 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 Maywood, IL
Median Rent in Maywood, IL
Top 5 Reasons to Live in Maywood, IL
More home for the money! The median list price per square foot in Maywood is just $55, compared to $134 in Chicago. With just a glance at those figures, it's easy to see that you can get more home for less money just by venturing ten miles outside the city. Newcomers to the area may want to consider a rent to own home while they decide which neighborhood of Maywood they like best. For great deals, visit the Washington Boulevard and Lexington Street neighborhoods.
High number of mortgages is your gain! Approximately 43 percent of homeowners in Maywood owe more money to their mortgage companies than their homes are worth. With banks looking to recoup their losses as quickly as possible, new buyers are able to purchase properties at below market rates. The most desirable homes are in communities like the Village Center and Harrison Street.
Spectacular library and community center! The Maywood Library is home to more than 90,000 books, 5,000 video tapes and a collection of large print books. As a leading research institution in the state, the library has a variety of language materials, historical documents and access to papers from around the world. Head to the city's community center for monthly town meetings or to play basketball at the indoor court.
Plenty of parks! Home to 11 area parks, Maywood is an outdoor enthusiast's dream. Visit Maywood Park and go for a walk on one of the trails in the nearby woods or head to the dog park for an afternoon play date for your pup. Swimming facilities and other recreational activities can be found at the Fred Hampton Family Aquatic Center.
Delicious Ethnic Cuisine! Take a culinary trip around the world with a visit to one of the numerous ethnic restaurants in Maywood. Start your tour at the Tropical Times Caribbean before making the short trip to Yum Thai for the delectable green curry and crab Rangoon.