As the birthplace of Henry Ford and home of the Ford Motor Company, Dearborn, Michigan, has a special place in American automotive history. Located within the Detroit metropolitan area, Dearborn has a population of just under 100,000 residents and ranks as the eighth largest city in the state. The city is named after Henry Dearborn, a prominent General in the Revolutionary War. Although Dearborn was settled by people of European descent in the late 18th century, it wasn't incorporated as a city until 1927 following the automotive boom. Today, Dearborn exists as an important steel and auto manufacturing center with a growing immigrant population of Arabic descent. It is also home to the Arab-American National Museum and the Islamic Center of America.
Dearborn, MI is a great place for affordable rent-to-own homes! With the current housing shortage trend it can make it harder to become a homeowner, including in Dearborn, 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.
Dearborn, MI is seeing rapid growth and Dearborn, MI's' housing market remains optimal with an average home price that is -100% below the 2022 national average. Dearborn, 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 2022 for county Wayne is 2.07% which is above the national average, which is 0.99%.
Dearborn, MI has a walk score of
Dearborn, MI has a bike score of
The state tax rate is 4.25% on top of the federal tax rate of 10 to 37%.