Rent to own Homes in Royal Oak, MI

Best of small-town and big-city worlds. The city of Royal Oak offers the feel of a small town while being just a short drive from downtown Detroit and the 125-acre Detroit Zoo. Royal Oak's tree-lined neighborhoods have earned the city the distinction of "Tree City USA" from the National Arbor Day Foundation every year since 1976.

Royal Oak, MI is a great place for affordable rent-to-own homes! With a median household income of over $83,194 and a median rent of $1,129, the Royal Oak, 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 Royal Oak, 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.

Check out Royal Oak, MI rent to own homes for sale, which may include auction properties, for sale by owner, and more.
Showing 1 - 44 of 176
14050 MANHATTAN ST
Rent To Own
 
Single Family Home
Oak Park, MI 48237
3
2
1061 ft2
1949
502 ALBANY ST
Rent To Own
Downtown Ferndale
Single Family Home
Ferndale, MI 48220
3
1
1150 ft2
1928
204 W BRENTWOOD ST
Rent To Own
State Fair-Nolan
Single Family Home
Highland Park, MI 48203
3
1
1056 ft2
1951
15484 NORTHLAWN ST
Rent To Own
Harmony Village
Single Family Home
Detroit, MI 48238
3
1
1243 ft2
1926
8685 FORD AVE
Rent To Own
Southeast Warren
Single Family Home
Warren, MI 48089
3
1
1200 ft2
1948
11092 PACKARD AVE
Rent To Own
Southeast Warren
Single Family Home
Warren, MI 48089
2
1
850 ft2
1951
13057 PROSPECT AVE
Rent To Own
Southeast Warren
Single Family Home
Warren, MI 48089
2
1
900 ft2
1952
7274 Lamphere St
Rent To Own
Cody-Rouge
Single Family Home
Detroit, MI 48239
2
1
748 ft2
1949
1002 MAHAFFEY AVE
Rent To Own
 
Single Family Home
Rochester, MI 48307
3
2
1017 ft2
1958
8900 E Jefferson Ave APT 718
Rent To Own
Belle Isle
Single Family Home
Detroit, MI 48214
1
1
600 ft2
1966
25404 HANOVER ST
Rent To Own
 
Single Family Home
Dearborn Heights, MI 48125
2
3
1344 ft2
1940
24120 OXFORD ST
Rent To Own
 
Single Family Home
Clinton Township, MI 48036
3
3
1900 ft2
1953
Hot
13518 POPLAR ST
Rent To Own
 
Single Family Home
Southgate, MI 48195
2
1
660 ft2
1949
42260 FIVE MILE RD
Rent To Own
 
Single Family Home
Plymouth, MI 48170
4
3
2414 ft2
2014
1375 RED BARN DR
Rent To Own
 
Single Family Home
Oxford, MI 48371
3
1
2028 ft2
1966
1 of 14 525 Maloney Street
Rent To Own
 
Multifamily (2 - 4 Units)
Oxford, MI 48371
3
3
2519 ft2
1977
20592 MAPLEWOOD ST
Rent To Own
 
Single Family Home
Riverview, MI 48193
4
3
2472 ft2
1974
3680 ALLEN RD
Rent To Own
 
Single Family Home
Ortonville, MI 48462
4
4
4400 ft2
1991
45669 HARMONY LN
Rent To Own
 
Single Family Home
Van Buren Township, MI 48111
4
2
0 ft2
1966
51319 GEDDES RD
Rent To Own
 
Single Family Home
Canton, MI 48188
2
1
823 ft2
1937
134 N MILFORD RD
Rent To Own
Downtown Highland
Single Family Home
Highland, MI 48357
1
2
1808 ft2
1885
1442 RILEY CENTER RD
Rent To Own
 
Single Family Home
Riley, MI 48041
3
2
1853 ft2
1991
4652 ALLORE RD
Rent To Own
 
Single Family Home
Newport, MI 48166
2
1
816 ft2
1950
1523 CHAPIN AVE
Rent To Own
 
Single Family Home
Birmingham, MI 48009
3
2
1202 ft2
1952
3408 STARR RD
Rent To Own
 
Single Family Home
Royal Oak, MI 48073
3
1
969 ft2
1950
1 of 18 1007 E 2ND ST
Rent To Own
 
Single Family Home
Royal Oak, MI 48067
3
2
1243 ft2
1929
1 of 23 131 N VERMONT AVE
Rent To Own
 
Single Family Home
Royal Oak, MI 48067
4
2
1275 ft2
1948
1 of 33 10549 HART AVE
Rent To Own
 
Single Family Home
Huntington Woods, MI 48070
3
2
1177 ft2
1946
1 of 6 627 GOLF AVE
Rent To Own
 
Single Family Home
Royal Oak, MI 48073
3
2
1455 ft2
1975
1 of 26 4909 North Crooks Road Apt C7
Rent To Own
 
Multifamily (2 - 4 Units)
Royal Oak, MI 48073
2
1
804 ft2
1965
2190 DOROTHEA RD
Rent To Own
 
Single Family Home
Berkley, MI 48072
3
2
1085 ft2
1945
1291 HUMPHREY AVE
Rent To Own
 
Single Family Home
Birmingham, MI 48009
3
4
2106 ft2
2014
1172 BIRD AVE
Rent To Own
 
Single Family Home
Birmingham, MI 48009
3
3
2230 ft2
1926
Hot
1 of 25 30423 MARSHALL ST
Rent To Own
 
Single Family Home
Southfield, MI 48076
3
1
1146 ft2
1926
1 of 43 893 HAZEL ST
Rent To Own
 
Single Family Home
Birmingham, MI 48009
5
6
3000 ft2
2018
1 of 18 19 Woodward Hts. Blvd.
Rent To Own
 
Multifamily (2 - 4 Units)
Pleasant Ridge, MI 48069
4
3
2014 ft2
1940
1 of 22 732 GRAEFIELD CT
Rent To Own
 
Townhouse/Condo
Birmingham, MI 48009
2
1
906 ft2
1949
1 of 11 2717 ROUNDTREE DR
Rent To Own
 
Townhouse/Condo
Troy, MI 48083
2
1
937 ft2
1973
1 of 23 427 LaPrarie St.
Rent To Own
 
Multifamily (2 - 4 Units)
Ferndale, MI 48220
3
1
1125 ft2
1941
1937 MUER DR
Rent To Own
 
Single Family Home
Troy, MI 48084
4
5
4123 ft2
1946
Hot
1 of 21 50 PARAGON DR
Rent To Own
 
Single Family Home
Troy, MI 48098
3
3
1550 ft2
1971
1 of 41 3985 ELVERA LN
Rent To Own
Northwest Warren
Townhouse/Condo
Warren, MI 48092
2
2
1222 ft2
2002
Hot
1 of 9 18523 PEMBROKE AVE
Rent To Own
Evergreen
Single Family Home
Detroit, MI 48219
3
3
1764 ft2
1947
1 of 15 2237 PURCELL DR
Rent To Own
 
Single Family Home
Sterling Heights, MI 48310
3
1
1609 ft2
1977
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Buying a Home in Royal Oak, MI

Royal Oak, MI is seeing rapid growth and Royal Oak, MI's' housing market remains not optimal with an average home price that is 9% above the 2024 national average. Royal Oak, MI is part of Oakland 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 Oakland is 1.75% which is above the national average, which is 0.99%.

Median Home Price in Royal Oak, MI

Median Rent in Royal Oak, MI

Rent to own homes offer low monthly payments and flexible terms.

Top 14 Reasons to Live in Royal Oak, MI

Home ownership opportunities! More than 70% of the properties here are owner occupied, so you shouldn't have trouble finding a place to put down long term roots. Check out Woodward Ave. or City Center for some ideas.

Good mix of homes! While more than 60% of homes are detached, single family dwelling, there are many large apartment complexes, small apartment buildings, and other residential types to choose from. Check out your options on McLean Ave. or Crooks Rd.

Transportation access! Located near I-696, I-75 and M-10, Royal Oak is an easy drive from most of the Detroit metro area. The average commute time for a Royal Oak resident is 22.4 minutes. An Amtrak stop in town provides service to Chicago (via Detroit).

A variety of restaurants! Downtown Royal Oak has many dining options. Stop in at Comet Burger for a 1950s-diner feel or eat inventive sushi at Ronin. Town Tavern serves American comfort food with a contemporary twist.

Unique boutiques! Royal Oak is known for its independent boutiques, most of which are located downtown. Lost and Found Vintage is a local favorite. Burn Rubber sells hip sneakers in addition to its own line of T-shirts, hoodies and hats. If you want to be near shopping, there are many rental houses and rent to own options in the downtown area.

Parks, parks, parks! Wherever you are in Royal Oak, there's a park nearby. With over 45 parks for 11.83 square miles, Royal Oak offers residents plenty of green space. Two parks, Exchange and Meininger, have outdoor ice skating rinks.

Lively nightlife! Royal Oak Brewery, Goodnite Gracie, Luna and Mr. B's Pub are just a few of the bars and clubs located in the city. Ferndale, south of Royal Oak, offers additional options, such as The Emory and The Grasshopper Underground.

Artistic flair! Public art sculptures created by Michigan artists are visible throughout downtown Royal Oak. Galleries such as Habatat and Ariana showcase the work of artists and artisans.

Local flavor! The Royal Oak Farmers Market has been operating since 1927 and has served many generations of households. The Holiday Market, a destination for groceries and specialty foods on South Main Street, opened in 1954. Ray's Ice Cream, a Royal Oak classic since 1958, offers cones and ice cream cakes from a selection of over 40 flavors, including peach and Dutch chocolate almond. Gayle's Chocolates has sold handmade chocolates in downtown Royal Oak for 26 years; Just Baked is a newcomer selling cupcakes.

Valuable properties! The median home value in Royal Oak is $174,500, which is higher than the Michigan average. Royal Oak is a great city to put down roots, and rent to own houses give you a great opportunity to make yourself at home.

Live music! The Royal Oak Music Theatre books a variety of local and national acts that draw fans to its 1,700-capacity space. Iggy Pop and The White Stripes have played there. Every summer, the free Royal Oak Concert Series is held on the lawn outside the public library.

Strong ties! The homeowner vacancy rate in Royal Oak is 2%, so while there may not be as many homes for sale as in other cities, looking for rent to own homes will expand your options.

Get fit and make friends! The city offers adult and youth athletic leagues in a variety of sports like softball, basketball and soccer. The John Lindell Ice Arena is home to several hockey teams and figure skating clubs. You can make friends in the community while improving your physical fitness

.