Rent to own Homes in South Portland, ME
Yes, it is geographically south of Portland, but it is its own place in all ways - historically, in personality, and in attitude. First settled as an agricultural community in the 1600s, South Portland was a part of its southern neighbor, Cape Elizabeth, for a time and is separated by Casco Bay from Portland. It is known for its working waterfront, rocky coast, Fort Preble and two historic coastal lighthouses.
South Portland, ME is a great place for affordable rent-to-own homes! With a median household income of over $67,198 and a median rent of $1,346, the South Portland, ME 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 South Portland, ME. 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 South Portland, ME Property Resources
Rent to own Homes in Cities Near South Portland, ME
- Auburn
- Bailey Island
- Biddeford
- Brunswick
- Bustins Island
- Buxton
- Cape Elizabeth
- Chebeague Island
- Cousins Island
- Cumberland Center
- Cumberland Foreside
- Dunstan
- Durham
- Falmouth
- Falmouth Foreside
- Freeport
- Gorham
- Gray
- Harpswell
- Hollis Center
- Kennebunkport
- Lisbon
- Little Falls
- Littlejohn Island
- Long Island
- New Gloucester
- North Windham
- North Yarmouth
- Oak Hill
- Old Orchard Beach
- Orrs Island
- Peaks Island
- Portland
- Pownal
- Raymond
- Saco
- Scarborough
- South Portland
- South Windham
- Standish
- Westbrook
- Windham
- Yarmouth
Neighborhoods in South Portland, ME
Pleasantdale rent to own homes Mill Creek rent to own homes Ferry Village rent to own homes Maine Mall rent to own homes Thornton Heights rent to own homes Broadview Park rent to own homes Fort Preble rent to own homes Willard Square rent to own homes Sunset Park rent to own homes Stanwood Park rent to own homesBuying a Home in South Portland, ME
South Portland, ME is seeing rapid growth and South Portland, ME's' housing market remains not optimal with an average home price that is 27% above the 2024 national average. South Portland, ME is part of Cumberland 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 Cumberland is 1.2% which is above the national average, which is 0.99%.
Median Home Price in South Portland, ME
Median Rent in South Portland, ME
Don't Let Its Name Fool You -- South Portland, ME is Unique
Home to the Mall. In southern Maine, if you're going to the mall, It's the South Portland Mall. Shoppers love it; Maine residents couldn't do without it. It is built on land that was formerly a pig farm, and it has served the area well since the 1960s. South Portland is also filled with local, independent shops and the 25,000 residents love to support the home-grown merchants, from thrift shops to the hardware store. Long lines attest to the popularity of Beal's Ice Cream. It's a summer tradition.
See the Sea! The water, especially the harbor, has influenced the city and shaped its history for hundreds of years. Shipbuilding was once a major occupation, employing 30,000 people. More than 250 "Liberty Ships" were built locally during World War II. Visit Bug Light Park, see the restored lighthouse, and learn the city's impressive military and maritime history. Walk along the rocky shore -- Willard Beach is known as the coldest beach in Maine -- before enjoying a lobster roll at a local eatery.
Varied Neighborhoods. Historic homes are everywhere, from large houses to small bungalows, but there is relatively little new construction and only a few modern apartments. Restored and remodeled rent to own houses are popular in Ferry Village, Meetinghouse Hill and Willard Beach, all near the water. Values have risen over the past few years, and availability is slim, but you might find a home for sale by the owner. As you look for a place to live, try muffins from Scratch Baking Co. or Little Bigs. They'll make the search much sweeter.
Four Seasons. Mainers love to joke about their short summers and cold winters, but residents take the weather in stride. If you like winter sports, skate, snowshoe, ski and follow miles of snowmobile trails. Or, settle in to comfortable seating for a first-run movie at Cinemagic Grand.
Rental Opportunities. Fall is a good time to look for a rental house, as some owners who leave for the winter don't want to leave their homes unoccupied. Rental prices are reasonable, hovering around average for the state of Maine. Look for rentals along Cottage Road or Broadway.