Rent to own Homes in Takoma Park, MD
Located just six miles north of the nation's capital is the city of Takoma Park, Maryland, a proud and friendly place of 17,721. It may be well within D.C.'s metropolitan range, but the city is completely its own. It's a city where live music, local foods, historic structures thrive. Add well-planned neighborhoods and housing developments, and Takoma Park is truly a city built to please.
Takoma Park, MD is a great place for affordable rent-to-own homes! With a median household income of over $83,919 and a median rent of $1,156, the Takoma Park, 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 Takoma Park, 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 Takoma Park, MD Property Resources
Rent to own Homes in Cities Near Takoma Park, 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 Takoma Park, MD
Takoma - DC rent to own homesPopular Zip Codes in Takoma Park, MD
20912 rent to own homesBuying a Home in Takoma Park, MD
Takoma Park, MD is seeing rapid growth and Takoma Park, MD's' housing market remains not optimal with an average home price that is 181% above the 2024 national average. Takoma Park, MD is part of Montgomery 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 Montgomery is 0.76% which is below the national average, which is 0.99%.
Median Home Price in Takoma Park, MD
Median Rent in Takoma Park, MD
Top 7 Reasons to Live in Takoma Park, MD
Fun annual events! The Takoma Park Folk Festival, held every year in September on Piney Branch Road, showcases a variety of live concerts, dance performances, and food from all over the globe. The Takoma Park Street Festival is held in Old Takoma and is full of all sorts of entertainment and crafts. The Takoma Park Film Festival is held at the Takoma Park Community Center in the spring.
Enjoy great parks! Green space in Takoma Park abounds. Take advantage by having a picnic at Spring Park, tossing football at Lee Jordan Field, and jogging at Belle Ziegler Park.
Find the right type of home! Just over 47 percent of housing units in Takoma Park are single-family homes, and the rest are condo units, townhouses, multi-family dwellings, and apartments. To see a myriad of listings, search Takoma Park and the area near Takoma-Piney Branch Local Park.
Savor the flavor! Dining in Takoma Park is top-notch. From pizza and soup at Roscoe's Pizzeria to sweets and coffee at Capital City Cheesecake, this city isn't lacking when it comes to cuisine. The oyster bar and happy hour at Republic is pretty happening, too.
Feel welcomed as a renter or buyer! Over 50 percent of residents own their homes, while the rest rent. That's an equal balance, and means you won't have trouble finding homes for sale, lease, or rent to own in Takoma Park. You can find rental homes near Heffner Park, and you can locate for-sale listings around Silver Spring Intermediate Park.
Get to Washington D.C. with ease! All the fun of the capital is very close. Hop on the subway at the Takoma Metro station near Dolci Gelati Cafe or take a car along 16th Street Northwest.
Shop at specialty stores! Takoma Park is full of niche retailers, including Magic Carpet, House of Musical Traditions, and Pollysue's Vintage Shop. Go out and see if you can find a hidden gem.