Rent to own Homes in Marquette, MI
Located in Michigan's Upper Peninsula, the land that would become the city of Marquette began as a French missionary outpost in 1675, although the area was only truly established in 1844 following the discovery of iron deposits. Today, Marquette is called home by 22,000 residents and is famous for its aesthetic beauty and thriving local community. The city's location on Lake Superior offers bountiful recreational opportunities year-round.
Marquette, MI is a great place for affordable rent-to-own homes! With a median household income of over $42,746 and a median rent of $820, the Marquette, 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 Marquette, 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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Marquette, MI is seeing rapid growth and Marquette, MI's' housing market remains optimal with an average home price that is -17% below the 2024 national average. Marquette, MI is part of Marquette 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 Marquette is 1.06% which is above the national average, which is 0.99%.
Median Home Price in Marquette, MI
Median Rent in Marquette, MI
5 Reasons to live in Marquette, MI
Outdoor sports! The outdoor recreational options in Marquette are among the best in Michigan's Upper Peninsula. In the summer, take a hike up Sugarloaf Mountain to enjoy one of the best views of the UP or ride your bike along the shore of Lake Superior to complete the Iron Ore Heritage Trail. During the snowy winter months, join the community on the slopes of Marquette Mountain Ski Resort. Visit Presque Isle Park and enjoy some excellent cross country skiing trails if you prefer your winter fun a little more horizontal.
Cheaper prices! Marquette isn't just a beautiful city, it also boasts household prices that are cheaper than the state average. At approximately $120,000, detached houses are significantly less expensive than the $169,000 Michigan average. You'll also find townhouses are available for $88,000, nearly half the average price of other locations in Michigan. For cheaper homes, look near Lincoln Avenue and Washington Street or in the Palmer neighborhood.
Shopping options! Given that city residents seems to spend the entire year enjoying the great outdoors, you might be surprised to learn that Marquette also boasts some excellent shopping options. Take a stroll through the pleasant downtown area and visit quaint boutique stores, including a Made in Michigan store and Snowbound, a delightfully cozy bookstore. Also located downtown is Getz's, a department store that has everything you need to enjoy the outdoors and start having fun.
Housing options! You'll find the city accommodates a range of housing needs, whether you want to buy, rent to own or just rent a home in Marquette. Approximately 50 percent of homes in Marquette are rented, and the median rent of $550 is less than the countrywide average. For cheaper rental units, try looking in the north and west of the city, near Northern Michigan University and Trowbridge Park.
Culture! Marquette also offers plenty of cultural opportunities, including events at the university and a number of museums. The university regularly hosts public lectures by distinguished scholars, music concerts and academic workshops. Elsewhere is Marquette Maritime Museum, which features the ghosts of famous shipwrecks and historic lighthouses.