Rent to own Homes in Sault Ste. Marie, MI
Sault Ste. Marie lies on the northeastern tip of Michigan's Upper Peninsula, just across the river from the Canadian city of the same name, and has been inhabited for over 500 years. Today, the city is home to some 14,000 residents, making it the second largest U.P city in terms of population, and is famous for its maritime connections -- this, after all, is the place where two of the Great Lakes, Lake Superior and Lake Huron, meet.
Sault Ste. Marie, MI is a great place for affordable rent-to-own homes! With a median household income of over $44,171 and a median rent of $746, the Sault Ste. Marie, 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 Sault Ste. Marie, 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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Sault Ste. Marie, MI is seeing rapid growth and Sault Ste. Marie, MI's' housing market remains optimal with an average home price that is -53% below the 2024 national average. Sault Ste. Marie, MI is part of Chippewa 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 Chippewa is 1.29% which is above the national average, which is 0.99%.
Median Home Price in Sault Ste. Marie, MI
Median Rent in Sault Ste. Marie, MI
Top 6 Reasons to Live in Sault Ste. Marie, MI
The Soo Locks! Sault Ste. Marie is home to the "Soo Locks," one of Michigan's most famous attractions. Visit between May and October and you'll be able to see freight boats and other vessels to pass between Lake Superior and Lake Huron through a system of water locks which function as an elevator for ships. After you've finished watching the hour long show, head down the road to Antlers Restaurant for a delicious and hearty hamburger.
Enjoy the great outdoors! A major benefit of living near water is that it provides near constant entertainment. Kayakers will enjoy exploring the magnificent shorelines of the Les Cheneaux Islands, while fishers can try to catch northern pike or bass from the shores of St. Mary's River. Back on land, visit the Point Iroquois Lighthouse on the shore of Lake Superior; it's a fascinating place, and you can climb to the top for some great views.
Roll the dice! Whether you're a keen amateur poker player or just love getting out of the house for a night of sparkling entertaining, you'll find that Kewadin Casino has a little something for everyone in the neighborhood. Before you hit the tables, however, make the short trip to Big Bear Arena, located directly opposite the casino, for a fun afternoon of ice-skating.
Great prices for property! With a mean price of $75,000 per house, Sault Ste. Marie is significantly cheaper than elsewhere in Michigan, where the mean is in excess of $132,000. Similarly, Sault Ste. Marie's median rent price of $482 is again cheaper than that of the Michigan median rent of $609. If you want more space in your home, aim for properties around the neighborhoods of Rosedale and Shallows.
Live the downtown life! Sault Ste. Marie's bustling downtown is home to over 130 businesses that provide a plethora of shopping, dining and entertainment options. On Saturday evenings, join the rest of the community by enjoying a great meal at Freighter's Restaurant before taking in a show at the historic Soo Theatre.
Plenty of housing options! With 38% of the properties in Sault Ste. Marie rented, those looking to find a property in the city have the option of deciding whether to buy, rent short term or rent to own. For good deals, look for homes in the areas surrounding Lake Superior State University and East Easterday Avenue.