Rent to own Homes in Hyattsville, MD
Home to nearly 17,900 residents, Hyattsville, Maryland sits right inside the Washington Beltway. It is a semi-urban area, with many properties close together, but also with some office buildings and commercial properties scattered throughout. Located right on the Washington Metro line, and only minutes from the MARC commuter rail that goes up to Baltimore, there's easy access throughout the region. In the 21st century, the city has undergone a number of major revitalization projects including shopping centers and housing complexes.
Hyattsville, MD is a great place for affordable rent-to-own homes! With a median household income of over $80,618 and a median rent of $1,440, the Hyattsville, MD 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 Hyattsville, MD. 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 Hyattsville, MD
- Annapolis Junction
- Bensville
- Camp Springs
- Cedar Heights
- Cheltenham
- Clarksville
- Cooksville
- Damascus
- Dayton
- Difficult Run
- Flower Hill
- Fort Washington
- Four Corners
- Glenarden
- Great Falls Crossing
- Greenbelt
- Halethorpe
- Hanover
- Konterra
- Lake Arbor
- Langley Park
- Laytonsville
- Linthicum Heights
- Marlboro Meadows
- Marlboro Village
- Maryland City
- Maryland Park
- Melwood
- Mitchellville
- Morningside
- National Harbor
- New Carrollton
- North Brentwood
- Parole
- Peppermill Village
- Queenland
- Sandy Spring
- Seat Pleasant
- Severna Park
- Silver Hill
- South Laurel
- Takoma Park
- Temple Hills
- University Park
- Upper Marlboro
- Washington Navy Yard
- West Friendship
- Wheaton
- White Plains
- Woodbine
Neighborhoods in Hyattsville, MD
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Hyattsville, MD is seeing rapid growth and Hyattsville, MD's' housing market remains not optimal with an average home price that is 63% above the 2024 national average. Hyattsville, MD is part of Prince George's 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 Prince George's is 0.98% which is below the national average, which is 0.99%.
Median Home Price in Hyattsville, MD
Median Rent in Hyattsville, MD
5 Reasons Hyattsville, Maryland is a Wonderful Community
Commitment to arts! As part of the Gateway Arts District, Hyattsville has lots of public artwork throughout the city in the form of mosaics and murals. The Hyattsville Community Arts Alliance puts on exhibits at various galleries and restaurants throughout the region. In recent years, the Arts District Hyattsville mixed-used development was built to provide artists with a place to live, work, and develop their art. The nearby University of Maryland, located just outside of city limits, is home to plays, musicals, and musical performances on a regular basis.
Beneficial market for rentals! Just over 47% of the properties in Hyattsville are rented, so it's an easy market for entry if you're looking to rent or rent to own. Nearly 42% of the homes in Hyattsville are in apartment complexes or large apartment buildings, such as Toledo Plaza and Queenstown Apartments.
Incredibly diverse restaurant choices! Whatever style of cuisine you want, Hyattsville has a restaurant that can sate your appetite. Carolina Kitchen Bar & Grill features Southern home cooking, and was named one of the Best Southern Restaurants in the Washington Area by Zagat's. Spice 6 Indian features fast-casual kebabs, Shagga is home to Ethiopian fare, and Acapulco Spirit serves up Salvadorian and Mexican dishes.
Steady, reasonable home values! With the average sales price sitting in the range of $220,000, Hyattsville provides a stable yet reasonable market. On top of that, at any given time, there are roughly 160 homes on the market, so the market won't be too competitive. Neighborhoods such as Hampshire Knolls and Green Meadows are great areas to start a search.
Lots of annual festivities! Hyattsville plays host to numerous festivals and events throughout the year. The City Anniversary Parade and Carnival is the biggest one, running every April for four days - as it has done for over 125 years. The city also hosts the Downtown Arts Festival and the Hyattsville International Festival. Nearby Takoma Park hosts a yearly Folk Festival,with music and folk art.