Rent to own Homes in Norwood, IL

Norwood, IL is a great place for affordable rent-to-own homes! With a median household income of over $63,500 and a median rent of $950, the Norwood, 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 Norwood, 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.

Check out Norwood, IL rent to own homes for sale, which may include auction properties, for sale by owner, and more.
Showing 1 - 44 of 176
213 E HIGH ST
Rent To Own
 
Single Family Home
Princeville, IL 61559
3
2
1272 ft2
1955
Hot
1 of 55 4729 W MEROL CT
Rent To Own
 
Single Family Home
Peoria, IL 61604
3
2
1512 ft2
1958
1 of 20 1103 S APACHE LN
Rent To Own
 
Single Family Home
Peoria, IL 61607
4
3
1976 ft2
1979
1 of 21 3806 South Airport Road
Rent To Own
Bartonville
Multifamily (2 - 4 Units)
Bartonville, IL 61607
3
1
1060 ft2
1970
Hot
1 of 14 2907 W STARR ST
Rent To Own
South Peoria
Single Family Home
Peoria, IL 61605
3
2
1260 ft2
1914
1 of 30 4603 W WHIPP AVE
Rent To Own
Bartonville
Single Family Home
Bartonville, IL 61607
3
2
936 ft2
1937
1 of 25 4114 S POINTE DR
Rent To Own
 
Single Family Home
Mapleton, IL 61547
4
3
3600 ft2
2000
Hot
1 of 26 3010 W GREENBRIER LN
Rent To Own
Northwest Peoria
Single Family Home
Peoria, IL 61614
4
4
2084 ft2
1960
1 of 21 1723 W LAMONT AVE
Rent To Own
Central Peoria
Single Family Home
Peoria, IL 61614
3
1
1186 ft2
1959
Hot
1 of 21 2132 N HAMPTON CT
Rent To Own
West Bluff
Single Family Home
Peoria, IL 61604
3
1
1087 ft2
1942
1 of 19 6903 N PATRICIA LN
Rent To Own
North Peoria
Single Family Home
Peoria, IL 61614
3
2
1008 ft2
1959
1 of 36 115 W MERLE LN
Rent To Own
North Florence
Single Family Home
Peoria, IL 61604
4
3
2936 ft2
1954
1 of 10 401 SW Water Street, Unit 410
Rent To Own
Downtown Peoria
Multifamily (2 - 4 Units)
Peoria, IL 61602
1
1
607 ft2
1910
1 of 9 224 SYLVAN LN
Rent To Own
 
Single Family Home
Creve Coeur, IL 61610
2
1
1075 ft2
1941
Hot
1 of 11 2806 N WISCONSIN AVE
Rent To Own
East Bluff
Single Family Home
Peoria, IL 61603
3
1
1624 ft2
1945
1 of 8 106 CASTLEMAN CT
Rent To Own
 
Single Family Home
Creve Coeur, IL 61610
3
2
1625 ft2
2008
11001 N EVANS MILL RD
Rent To Own
 
Single Family Home
Princeville, IL 61559
3
4
3625 ft2
1940
403 PROSPECT AVE
Rent To Own
 
Single Family Home
East Peoria, IL 61611
1
1
480 ft2
1939
Hot
1513 NE PERRY AVE
Rent To Own
North Valley
Single Family Home
Peoria, IL 61603
5
2
2255 ft2
1930
1 of 50 332 PARK AVE
Rent To Own
 
Single Family Home
East Peoria, IL 61611
3
2
1554 ft2
2010
1 of 3 10514 N SCHOPP LN
Rent To Own
 
Single Family Home
Peoria, IL 61615
3
3
1634 ft2
1997
Hot
1 of 26 1725 W GENEVA RD
Rent To Own
 
Single Family Home
Peoria, IL 61615
3
3
1650 ft2
2000
Hot
1308 NE ROCK ISLAND AVE
Rent To Own
Averyville
Single Family Home
Peoria, IL 61603
2
2
938 ft2
1933
1 of 15 11520 North Dunmore Drive
Rent To Own
 
Multifamily (2 - 4 Units)
Dunlap, IL 61525
5
4
3500 ft2
2005
1011 CHESTNUT ST
Rent To Own
North Of Broadway
Single Family Home
Pekin, IL 61554
3
2
1542 ft2
2003
1 of 57 1015 SAINT JULIAN ST
Rent To Own
North Of Broadway
Single Family Home
Pekin, IL 61554
3
2
1626 ft2
1955
Hot
1 of 36 121 FLEUR DE LIS DR
Rent To Own
 
Single Family Home
East Peoria, IL 61611
4
4
3966 ft2
1994
1 of 30 324 BROOKVIEW RD
Rent To Own
 
Single Family Home
East Peoria, IL 61611
4
2
2100 ft2
1959
1 of 44 12625 N COLONY RD
Rent To Own
 
Single Family Home
Dunlap, IL 61525
4
3
3595 ft2
1977
1 of 42 1500 GINGOTEAGUE WAY
Rent To Own
South Of Broadway
Single Family Home
Pekin, IL 61554
3
3
4400 ft2
2000
Hot
1 of 26 104 LEE CT
Rent To Own
 
Single Family Home
East Peoria, IL 61611
3
2
1144 ft2
1989
252 SHEFFIELD RD
Rent To Own
 
Single Family Home
Groveland, IL 61535
4
2
1995 ft2
1974
1 of 31 105 WHISTLING STRAIT
Rent To Own
 
Single Family Home
Washington, IL 61571
4
3
3646 ft2
2011
1 of 23 410 LOTUS LN
Rent To Own
 
Single Family Home
Washington, IL 61571
3
1
1009 ft2
1959
Hot
1 of 4 117 CAMELIN DR
Rent To Own
 
Single Family Home
Washington, IL 61571
4
3
5341 ft2
2022
1930-1932 Mayflower Drive
Rent To Own
 
Multifamily (2 - 4 Units)
Pekin, IL 61554
3
2
1520 ft2
2020
1 of 8 710 HICKORY CREEK CT
Rent To Own
 
Single Family Home
Metamora, IL 61548
3
3
2300 ft2
1992
1 of 30 503 SOMERSET DR
Rent To Own
 
Single Family Home
Germantown Hills, IL 61548
6
3
3209 ft2
2012
Hot
1 of 19 360 S GLEN AVE
Rent To Own
 
Single Family Home
Morton, IL 61550
4
3
1907 ft2
1948
1 of 12 5307 E RICHLAND AVE
Rent To Own
 
Single Family Home
Chillicothe, IL 61523
3
1
1013 ft2
1950
1 of 14 196 TUSCANY CT
Rent To Own
 
Single Family Home
Morton, IL 61550
3
3
1902 ft2
2014
1 of 14 #2 Woodhaven Court
Rent To Own
 
Multifamily (2 - 4 Units)
Metamora, IL 61548
3
2
1500 ft2
1981
Hot
1 of 6 608 E CYPRESS ST
Rent To Own
 
Single Family Home
Elmwood, IL 61529
4
2
2072 ft2
1973
132 Hollyhock Lane
Rent To Own
 
Multifamily (2 - 4 Units)
Metamora, IL 61548
4
1
1660 ft2
1980
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Buying a Home in Norwood, IL

Norwood, IL is seeing rapid growth and Norwood, IL's' housing market remains optimal with an average home price that is -62% below the 2024 national average. Norwood, IL is part of Peoria 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 Peoria is 2% which is above the national average, which is 0.99%.

Median Home Price in Norwood, IL

Median Rent in Norwood, IL

Rent to own homes offer low monthly payments and flexible terms.