Rent to own Homes in Allen Park, MI
Located just southwest of Detroit, Allen Park embodies the best the Detroit area has to offer. The auto industry has made its mark in Allen Park, as the city is right next to the Ford Motor Company's headquarters and is the home of the Uniroyal Giant Tire, the largest tire ever constructed. With easy access to Detroit and plenty of things to in town, Allen Park is a great place to live.
Allen Park, MI is a great place for affordable rent-to-own homes! With a median household income of over $69,331 and a median rent of $1,016, the Allen Park, MI 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 Allen Park, MI. 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 Allen Park, MI
- Allen Park
- Berkley
- Beverly Hills
- Bingham Farms
- Birmingham
- Bloomfield Hills
- Carleton
- Center Line
- Clawson
- Dearborn
- Dearborn Heights
- Detroit
- Eastpointe
- Ecorse
- Estral Beach
- Farmington
- Farmington Hills
- Ferndale
- Franklin
- Garden City
- Gibraltar
- Grosse Ile
- Grosse Pointe Park
- Grosse Pointe Woods
- Hamtramck
- Hazel Park
- Highland Park
- Huntington Woods
- Lathrup Village
- Lincoln Park
- Livonia
- Melvindale
- New Boston
- Newport
- Northville
- Novi
- Pleasant Ridge
- Redford
- Riverview
- Romulus
- Roseville
- Southfield
- Sterling Heights
- Stony Point
- Taylor
- Troy
- Warren
- Wayne
- Woodhaven
- Woodland Beach
Neighborhoods in Allen Park, MI
No neighborhoods foundPopular Zip Codes in Allen Park, MI
48101 rent to own homesBuying a Home in Allen Park, MI
Allen Park, MI is seeing rapid growth and Allen Park, MI's' housing market remains optimal with an average home price that is -39% below the 2024 national average. Allen Park, MI is part of Wayne 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 Wayne is 2.07% which is above the national average, which is 0.99%.
Median Home Price in Allen Park, MI
Median Rent in Allen Park, MI
Top 3 reasons to live in Allen Park, Michigan
Great for sports enthusiasts! If you enjoy athletics, then Allen Park is a great place to live. Not only is it mere minutes from the professional sports teams in downtown Detroit (the Tigers, Red Wings, and Lions), but the Lions' practice facility and headquarters are located on Republic Drive. Living in Allen Park allows you a chance to watch the Lions in training camp every summer and, who knows, perhaps get an autograph. If bowling is your thing, Thunderbowl Lanes on Allen Road is a great place to go. It has over 90 lanes and hosted the first PBA World Series of Bowling in 2009. It also hosts live music and comedy shows at night.
A top suburb to live in! Located in the Downriver suburbs of Detroit, Allen Park has been lauded recently by Money Magazine as one of the best small cities to live in the United States. The Allen Park community is full of rent to own houses of varying ages with low rents (the median gross rent in 2009 was $763). One can enjoy the classic feel of a majestic classic home built in the 1940s through 1960s in the Beverly Avenue and Pinecrest Drive area on the northwest side of town.
Home values are appreciating! Allen Park's cost of living is 17.2 percent lower than the national average. That doesn't mean that investing in a home can't be profitable - in fact, the home appreciation in Allen Park has increased 15.4 percent in the last year. Great areas to check out are the southern neighborhoods around Wick Road and Reeck Road, which have plenty of classic homes ranging from one-bedroom to four-bedroom houses and a low vacancy rate of 3.9 percent, or the east side neighborhood near Fox Avenue, which has a bevy of large, classic homes.