Rent to own Homes in Danville, KY
Scenic Danville, Kentucky, is known as "The City of Firsts" for many reasons. It boasted both the first college and the first law school in the West, the first state courthouse and the first United States Post Office west of the Alleghenies while also serving as the first state Capital. This small city with lots of charm even hosted the U.S. Vice Presidential debates in the years 2000 and 2012.
Danville, KY is a great place for affordable rent-to-own homes! With a median household income of over $42,068 and a median rent of $715, the Danville, KY 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 Danville, KY. 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.
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Rent to own Homes in Cities Near Danville, KY
Neighborhoods in Danville, KY
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40422 rent to own homesBuying a Home in Danville, KY
Danville, KY is seeing rapid growth and Danville, KY's' housing market remains optimal with an average home price that is -33% below the 2024 national average. Danville, KY is part of Boyle 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 Boyle is 0.76% which is below the national average, which is 0.99%.
Median Home Price in Danville, KY
Median Rent in Danville, KY
Top Six Reasons to Live in Danville, Kentucky
Easy on the pocketbook! Danville's median home value is over 23% less than the national average, and its low rental costs are 31% less than the national average. With a general cost of living that's almost 12% lower than the average nationwide, Danville affords its residents more opportunities to spend their hard-earned cash on life's other luxuries at Vestiary or The Hub Coffee House and Cafe.
Live downtown! The downtown neighborhood features numerous historic properties with rental units and rent to own homes, along with plenty to do. Each year, it's the site of major events such as Oktoberfest and the Great American Brass Band Festival, and it's also filled with retail stores and restaurants. Shop at the Maple Tree Gallery before indulging your appetite at Cue on Main or Burke's Bakery.
Horse farms! One of the most consistent attributes of the Bluegrass State is its abundance of equine farms, and the city of Danville is no exception. Visitors will revel in the beauty of these impressive horses at local sites like Spring Clover Farm and Moss Lake Farm.
Activities galore! Danville offers constant entertainment for locals and visitors alike. Explore the Central Kentucky Wildlife Refuge's 500-acre nature preserve, or have a glass of locally made wine at Chateau du Vieux Corbeau Winery. Visit the Great American Dollhouse Museum for a miniature look at social history, or watch a show at the Pioneer Playhouse, Kentucky's oldest outdoor theater.
Rich in history! The city is known as the "Birthplace of the Bluegrass" due to the state's first Constitution being signed here in 1792 at Constitution Square. The city hosts an annual Historic Constitution Square Festival, complete with music, crafts and culinary delights, to honor the site's cultural significance.
Awards and accolades! This pretty city was awarded the title of the fourth best place to retire in the country by Money Magazine in 2011, and the National Trust for Historic Preservation awarded Danville with a Great American Main Street Award in 2001.