Rent to own Homes in East Chicago, IN
Despite what you might think, East Chicago is its own city separate from the metropolis of Chicago and has a population of just under 30,000. East Chicago offers a friendly, small town atmosphere even though it is located within throwing distance of the windy city. Residents smile and say hello, help strangers in need, and watch out for neighbors.
East Chicago, IN is a great place for affordable rent-to-own homes! With a median household income of over $35,396 and a median rent of $658, the East Chicago, IN 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 East Chicago, IN. 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 East Chicago, IN Property Resources
Rent to own Homes in Cities Near East Chicago, IN
- Alsip
- Bedford Park
- Bellwood
- Bridgeview
- Broadview
- Burbank
- Burnham
- Burr Ridge
- Calumet Park
- Chicago
- Chicago Heights
- Countryside
- Crestwood
- Dixmoor
- Flossmoor
- Forest Park
- Frankfort
- Frankfort Square
- Franklin Park
- Hazel Crest
- Hinsdale
- Hodgkins
- Hometown
- Homewood
- La Grange Park
- Markham
- Maywood
- Melrose Park
- Merrionette Park
- Midlothian
- Mokena
- Norridge
- Northlake
- Oak Forest
- Oak Lawn
- Olympia Fields
- Palos Heights
- Palos Park
- Park Forest
- Phoenix
- River Grove
- Schiller Park
- South Chicago Heights
- Steger
- Thornton
- Tinley Park
- Westchester
- Willow Springs
- Wilmette
- Worth
Neighborhoods in East Chicago, IN
New Addition rent to own homes Calumet rent to own homes Washington Park rent to own homes East Calumet rent to own homes Indiana Harbor rent to own homes Sunnyside rent to own homes Prairie Park rent to own homes Roxana rent to own homes Northside rent to own homes Southside rent to own homesPopular Zip Codes in East Chicago, IN
46312 rent to own homesBuying a Home in East Chicago, IN
East Chicago, IN is seeing rapid growth and East Chicago, IN's' housing market remains optimal with an average home price that is -66% below the 2024 national average. East Chicago, IN 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 1.37% which is above the national average, which is 0.99%.
Median Home Price in East Chicago, IN
Median Rent in East Chicago, IN
Top 5 Reasons to Live in East Chicago
Graffiti art from the Crazy Indiana Style Artists! This artistic group was founded in 1986 and has a membership of over 100 local graffiti artists. Although it once was possible to view their art all over East Chicago, many of the buildings housing this unique art have been destroyed. View their most recent work near the Harbor north of Broadway on Main Street for a fun, unique cultural experience.
Home prices and home values are growing! Thanks to a 50 million dollar initiative by the mayor of East Chicago, the city has seen rapid growth in home development during the past few years. Find great deals on rent to own homes and homes for sale in East Chicago neighborhoods, including Calumet and Roxana Park, before the program is complete and prices skyrocket. The community of East Chicago offers many styles and sizes of homes for whatever fits your needs.
It's home to the Marktown Historic District! East Chicago has a rich cultural heritage due to its history as a railroad town. East Chicago was one of Northwest Indiana Region's first industrial cities. Marktown Historic District was one of the first of East Chicago's planned housing developments founded in 1917. Today, 100% of the original buildings remain and the historic district is home to numerous restaurants, shops, and historic tours, including Marktown Square and George Michel's Bar and Grill.
It's home to over eight city-run parks and free outdoor gyms! East Chicago recently implemented a clean-up program for its parks and playgrounds, updating them with features like outdoor grills, free outdoor gyms, running trails, playgrounds, picnic areas, and other recreational features. Visit Riley Park if you want to play a game of basketball with friend, Washington Park for an outdoor gym where you can work on your fitness, and Nunez Park for a bike trail.
Home ownership incentives! The home ownership incentives were founded by the city of East Chicago in an effort to increase home ownership in the city. The city is purchasing foreclosed and abandoned properties and renovating them for resale. Residents can apply for a HIP mortgage for additional funding for home purchases making it easier than ever to own your own home in up and coming neighborhoods like Northside and Washington Park.