Rent to own Homes in Wauconda, IL
Located approximately 45 miles northwest of Chicago, Wauconda is a village that's home to 13,603 people, according to the 2010 census. Tradition has it that this place is named after an Indian chief, Wakanda, which in Native American language means "Spirit Water." While this story has never been verified, the village, recognizing the need to preserve tradition, has adapted the tag line: "Water. Spirit. Wonder."
Wauconda, IL is a great place for affordable rent-to-own homes! With a median household income of over $90,019 and a median rent of $1,157, the Wauconda, 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 Wauconda, 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 Wauconda, IL Property Resources
Rent to own Homes in Cities Near Wauconda, IL
- Antioch
- Bannockburn
- Bohners Lake
- Bristol
- Browns Lake
- Bull Valley
- Burlington
- Camp Lake
- Carpentersville
- Eagle Lake
- East Dundee
- Fox Lake
- Gages Lake
- Genoa City
- Grayslake
- Green Oaks
- Hainesville
- Hawthorn Woods
- Highland Park
- Highwood
- Holiday Hills
- Indian Creek
- Knollwood
- Lake Barrington
- Lake Catherine
- Lake in the Hills
- Lake Ivanhoe
- Lakemoor
- Lake Villa
- Lily Lake
- Lincolnshire
- Long Lake
- McCullom Lake
- Paddock Lake
- Palatine
- Pell Lake
- Port Barrington
- Powers Lake
- Richmond
- Rochester
- Round Lake
- Salem Lakes
- Solon Mills
- Sturtevant
- Trevor
- Twin Lakes
- Union Grove
- Volo
- Wilmot
- Winthrop Harbor
Popular Zip Codes in Wauconda, IL
60084 rent to own homesBuying a Home in Wauconda, IL
Wauconda, IL is seeing rapid growth and Wauconda, IL's' housing market remains not optimal with an average home price that is 6% above the 2024 national average. Wauconda, IL is part of Lake 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 Lake is 2.19% which is above the national average, which is 0.99%.
Median Home Price in Wauconda, IL
Median Rent in Wauconda, IL
Top 5 Reasons to Live in Wauconda, IL
Natural wonders! Wauconda is a great place for people who love the great outdoors. There's the Lakewood Forest Preserve with its hiking trails, bird watching station, heron pond and an equestrian trail for outdoor enthusiasts. Then there's also the awe-inspiring Bangs Lake, a glacial lake where you can go swimming, fishing and boating during the summer months and skating during wintertime. This village is also the home of the Wauconda Bog Nature Preserve.
Huge percentage of newer homes! Almost a third of real estate properties in this village are new housing developments, which means that people looking for recently-constructed houses have better luck in finding cribs to their liking in this suburb. Neighborhoods along Belvidere Road and Bonner Road have plenty of such options.
Community events! Life is never going to be boring in this small suburb with all the community-organized events in its calendar. For instance, the Wauconda Chamber of Commerce holds a two-day rodeo every summer to raise funds for their organization. Other highly anticipated annual events include the Wauconda Fest, the Annual Street Dance on Main and the Annual Holiday Walk.
Stable economic growth! With a projected job growth rate that's higher than the national average and an unemployment rate that's lower than the national average, Wauconda economic outlook is very positive. The village derives its economic activity from a wide-range of local industries and some companies headquartered in this area include Synergy Flavors, Fidelitone Logistics and Acres Group.
A wide variety of residential real estate! Whether you're looking for a single-detached home with a spacious yard, a well-maintained gated community or a high-rise apartment, there's always something for you with this village's wide range of housing options. You can even go for a small studio-type apartment or a mansion-like, 5-bedroom home here. rent to own houses in areas like Mylith Park and Williams Park tend to have a higher price tag than in neighborhoods around Main Street and Barrington Road.