Rent to own Homes in Lake Shore, MD
Lake Shore is a small, unincorporated town that attracts residents for its spectacular scenery and close proximity to the Washington, D. C. Metropolitan Area. The city is just a short distance from the Chesapeake Bay, a large estuary that provides opportunities for recreational boating, fishing and hunting. Lake Shore residents enjoy a high standard of living, and the average household income in 2010 was more than $90,000.
Lake Shore, MD is a great place for affordable rent-to-own homes! With a median household income of over $111,940 and a median rent of $1,561, the Lake Shore, 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 Lake Shore, 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.
More Lake Shore, MD Property Resources
Rent to own Homes in Cities Near Lake Shore, MD
- Annapolis
- Annapolis Junction
- Arbutus
- Baldwin
- Baltimore Highlands
- Bowie
- Bowleys Quarters
- Brooklyn Park
- Cape St. Claire
- Carney
- Catonsville
- Churchton
- Cockeysville
- Columbia
- Crownsville
- Curtis Bay
- Edgewood
- Elkridge
- Ellicott City
- Fairlee
- Ferndale
- Georgetown
- Glen Arm
- Halethorpe
- Hampton
- Hanover
- Harwood
- Hunt Valley
- Hydes
- Ilchester
- Joppa
- Joppatowne
- Kent Narrows
- Kingsville
- Lanham
- Linthicum Heights
- Lutherville Timonium
- Nottingham
- Parkville
- Phoenix
- Pleasant Hills
- Romancoke
- Rosedale
- Shady Side
- Sparrows Point
- Tolchester
- Upper Falls
- White Marsh
- Windsor Mill
- Woodstock
Neighborhoods in Lake Shore, MD
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Lake Shore, MD is seeing rapid growth and Lake Shore, MD's' housing market remains not optimal with an average home price that is 86% above the 2024 national average. Lake Shore, MD is part of Anne Arundel 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 Anne Arundel is 0.66% which is below the national average, which is 0.99%.
Median Home Price in Lake Shore, MD
Median Rent in Lake Shore, MD
Top 6 Reasons to Live in Lake Shore, MD
Enjoying the great outdoors! Lake Shore is a natural paradise surrounded by thousands of miles of open water and secluded beaches. The city borders Maggoty River and Main Creek, both of which are tributaries to the Chesapeake Bay.
High home values! Homeowners in Lake Shore have access to a strong housing market that is buoyed by the city's convenience to the state capital, Annapolis. In October 2014, the median list price was $346,000, which was an increase in 2.7 percent over the previous year. Homebuyers have access to a variety of rent to own homes, like luxurious retreats on Gibson Island or convenient apartments located near the links at Compass Pointe Golf Course.
Cultural attractions! Residents are often drawn to community of Lake Shore for its close proximity to the Baltimore and Washington, D. C. The Maryland Renaissance Festival is held just a short drive away. The annual event has vendors offering fresh food and performance artists, like sword swallowers.
Great seafood and farm-fresh produce! At the Pennsylvania Dutch Farmers Market, residents can shop for fresh produce from local vendors. The city's proximity to the Chesapeake Bay also makes it a great location for seafood lovers. Two Rivers Steak and Fish House has a family atmosphere, a sports bar, and serves fresh crab cakes. The Greene Turtle offers casual fare and brews its own pale ale, the Shell Raiser.
Low property taxes! Lake Shore residents may appreciate the city's lower property taxes. In 2012, the median property tax on housing units without a mortgage was $2,477, while the rate for homeowners with mortgages was $2,667. Nearly every neighborhood within the city provides residents with close access to parks and waterfront recreation spots, such as North Grays Creek Bog, Cooks Pond and Park Lake.
Community parks! For outdoor enthusiasts, the John H. Downs Memorial Park has hiking and biking trails as well as a beach for dog lovers. Sandy Point State Park is located on the shores of the Chesapeake Bay and draws visitors for fishing and crabbing throughout the year.