Rent to own Homes in South Elgin, IL
South Elgin's motto is where tradition meets the future. Yes, it is only 40 miles from the international city of Chicago and a mere 15 miles from Kane County's biggest city, the 200,000 strong, Aurora, but it is confident enough in its own identity to call itself a village. In the Village of South Elgin they have festivals, restaurants and museums all placed alongside or near the stunning Fox River. Unlike their counterparts, these are all events where people know each other.
South Elgin, IL is a great place for affordable rent-to-own homes! With a median household income of over $99,189 and a median rent of $1,496, the South Elgin, 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 South Elgin, 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 South Elgin, IL Property Resources
Rent to own Homes in Cities Near South Elgin, IL
- Addison
- Barrington
- Barrington Hills
- Batavia
- Bensenville
- Berkeley
- Boulder Hill
- Bull Valley
- Campton Hills
- Carpentersville
- Clarendon Hills
- Deer Park
- Des Plaines
- Downers Grove
- Dundee
- East Dundee
- Elgin
- Elk Grove Village
- Elmhurst
- Fox Lake
- Fox River Grove
- Glendale Heights
- Grayslake
- Hainesville
- Hampshire
- Hawthorn Woods
- Holiday Hills
- Indian Creek
- Kildeer
- Lake Barrington
- Lake in the Hills
- Lakemoor
- Lincolnshire
- McCullom Lake
- Mettawa
- Mundelein
- North Barrington
- Northbrook
- Palatine
- Pingree Grove
- Port Barrington
- Riverwoods
- Round Lake
- St. Charles
- Trout Valley
- Volo
- Wauconda
- West Chicago
- West Dundee
- Woodridge
Neighborhoods in South Elgin, IL
No neighborhoods foundPopular Zip Codes in South Elgin, IL
60177 rent to own homesBuying a Home in South Elgin, IL
South Elgin, IL is seeing rapid growth and South Elgin, IL's' housing market remains not optimal with an average home price that is 12% above the 2024 national average. South Elgin, IL is part of Kane 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 Kane is 2.09% which is above the national average, which is 0.99%.
Median Home Price in South Elgin, IL
Median Rent in South Elgin, IL
Top 5 Reasons to Live in South Elgin, IL
Situated on the banks of Fox River! This 202 mile river is the location of some of South Elgin's biggest attractions. First, there is the railroad, which is still active on special occasions; the trolley museum serves as a memorial to the sadly departed electric trains. Second, the village hosts their annual River festival on Fox River in August. With Carnivals, fireworks, live stage shows and craft shows, it is a celebration of all that makes the area so great. An addition to the river will be Foundation, a playground for kids.
Close to the cities of Chicago and Aurora! Those who occasionally take up the thrills offered by city life don't have to go far. Even if you don't own a car, South Elgin is a stop on the Metra rail service that goes straight to Chicago. Or hop on the PACE suburban bus service, which goes to Aurora in less than an hour.
Named a Best Place to Live in the US! In 2007 and 2011 Money Magazine voted South Elgin the 82nd best place to live in the country in terms of education, jobs and economy. Residents of South Elgin rave about the numerous attractions and variety of things to do here. Learn about the city's earliest form of transportation, the trolley, at the Fox River Trolley Museum, where you can actually step aboard a restored trolley from the 1800s. Or, release some energy at the Epic Air Trampoline Park, which features more than 10,000 square feet of trampolines.
Increasing Home Values! Because no one wants to buy a home that is losing value, it is best to buy in a city like South Elgin, where home values are on the rise. Not only has the median home value risen 10% in 2014 to $181,800, but this figure is expected to grow even more in the next year. Look to a neighborhood like Youngsdale or Oak Drive for the best deals on a rent to own home.
Cheap Rent! Renting in South Elgin has never been more affordable than now, with the median rent price at just $1395. Given that renting in the Chicago Metro area would cost in excess of $300 more per month, South Elgin represents a true bargain. The most desirable neighborhoods to rent include the Village Center and Five Island Park.