Rent to own Homes in Wakefield, MA
Wakefield, Massachusetts is a town located just 10 miles north of Boston. The town has a small-town feel with big-town adventure and is located next to two major highways (I-93 and I-95), making it easily accessible to Boston. Wakefield is known for its preservation of New England history and has a strong community based on outdoor adventure and a love of New England culture.
Wakefield, MA is a great place for affordable rent-to-own homes! With a median household income of over $103,696 and a median rent of $1,513, the Wakefield, MA 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 Wakefield, MA. 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 Wakefield, MA Property Resources
Rent to own Homes in Cities Near Wakefield, MA
- Abington
- Andover
- Arlington
- Avon
- Bedford
- Belmont
- Beverly
- Boxford
- Braintree Town
- Brockton
- Burlington
- Carlisle
- Chelsea
- East Bridgewater
- East Weymouth
- Everett
- Georgetown
- Hanson
- Hingham
- Holbrook
- Hull
- Lawrence
- Lincoln
- Lynn
- Lynnfield
- Malden
- Marblehead
- Medford
- Melrose
- Methuen Town
- Middleton
- Nahant
- North Reading
- North Scituate
- Peabody
- Reading
- Revere
- Saugus
- Somerville
- Southfield
- Stoneham
- Swampscott
- Tewksbury
- Topsfield
- Wakefield
- West Concord
- Westford
- Wilmington
- Winchester
- Woburn
Neighborhoods in Wakefield, MA
Downtown Wakefield rent to own homes Greenwood rent to own homes Montrose rent to own homes East Side rent to own homes Woodville rent to own homes Wakefield rent to own homes West Side rent to own homesPopular Zip Codes in Wakefield, MA
01880 rent to own homesBuying a Home in Wakefield, MA
Wakefield, MA is seeing rapid growth and Wakefield, MA's' housing market remains not optimal with an average home price that is 156% above the 2024 national average. Wakefield, MA is part of Middlesex 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 Middlesex is 1.04% which is above the national average, which is 0.99%.
Median Home Price in Wakefield, MA
Median Rent in Wakefield, MA
7 Reasons to Live in Wakefield, MA
Fresh foods is a priority! Wakefield is known for its fresh foods and outdoor markets. It boasts multiple farmer-friendly markets, including the Wakefield Farmers Market and The Farmland, a local grocery store that serves farm-fresh foods.
Lower real estate taxes! City and property taxes in Wakefield are far below nearby Boston and other large metropolitan areas. The average state property tax rate in Massachusetts is $13.19 per mil, while Wakefield has a tax rate of just $11.90 per mil, with a yearly payment of $4770 for the average household in neighborhoods like Wakefield Square and Lakeside.
Gorgeous outdoor spaces! Wakefield residents love to spend time outdoors. You can enjoy boating and other water activities at the Quannapowitt Yacht Club or explore the serenity of nature at nearby Lake Quannapowitt park. Experience nature's raw beauty at the nearby state reservation bordering Wakefield.
Fascinating cultural exhibits! Wakefield offers a wide variety of cultural experiences for residents. At the Wakefield Repertory Theatre, residents can explore cultural history and messages from around the world from the past and present. At the Col. James Hartshorne House, residents can learn about the history of Wakefield and Massachusetts.
A range of diversions! Wakefield provides an adventure at every turn for residents. Choose from community seasonal events such as apple picking, pumpkin patches, ice skating, music festivals, and more. Sullivan Memorial Park and other local parks are popular with outdoor lovers and the Backyard Gardeners club offers a fun place for garden-lovers to discuss gardening activities at monthly meetings.
Rising home values! Wakefield has an average home value of $399,030, slightly above the state average of $323,800. Wakefield home values are rising at a steady rate of growth: in 2000, home values were just $240,300. Look for rent to own options as well as homes for sale on Crescent or Church St.
Lake Quannapowitt! Lake Quannapowitt is a lake in Wakefield famous for hosting benefits and cultural activities each year. Many Wakefield residents spend a relaxing weekend at the lake at the state's oldest yacht club, the Quannapowitt Yacht Club. Outdoorsy fold like to take walks or runs before stopping into the lakeside Honey Dew Donuts.