Rent to own Homes in Warren, MI
About four miles west of Lake St. Clair, you'll find Warren, which is Michigan's third largest city and the largest of Detroit's suburbs. The area, which was first settled in 1830, enjoys a number of recognized historical landmarks, including the Detroit Arsenal Tank Plant. The city is also where rapper Eminem went to high school.
Warren, MI is a great place for affordable rent-to-own homes! With a median household income of over $51,796 and a median rent of $962, the Warren, 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 Warren, 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 Warren, MI
- Allen Park
- Auburn Hills
- Berkley
- Beverly Hills
- Bingham Farms
- Birmingham
- Bloomfield Hills
- Center Line
- Clawson
- Dearborn
- Dearborn Heights
- Detroit
- Eastpointe
- Ecorse
- Farmington
- Farmington Hills
- Ferndale
- Franklin
- Fraser
- Garden City
- Grosse Pointe
- Grosse Pointe Farms
- Grosse Pointe Park
- Grosse Pointe Woods
- Hamtramck
- Harper Woods
- Hazel Park
- Highland Park
- Huntington Woods
- Inkster
- Keego Harbor
- Lathrup Village
- Lincoln Park
- Livonia
- Madison Heights
- Melvindale
- Mount Clemens
- New Baltimore
- New Haven
- Oak Park
- Orchard Lake Village
- Pleasant Ridge
- Pontiac
- River Rouge
- Riverview
- Rochester
- Rochester Hills
- Romeo
- Romulus
- Roseville
Neighborhoods in Warren, MI
Southwest Warren rent to own homes Southeast Warren rent to own homes Northwest Warren rent to own homes Northeast Warren rent to own homesPopular Zip Codes in Warren, MI
48090 rent to own homesBuying a Home in Warren, MI
Warren, MI is seeing rapid growth and Warren, MI's' housing market remains optimal with an average home price that is -39% below the 2023 national average. Warren, MI is part of Macomb 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 2023 for county Macomb is 1.74% which is above the national average, which is 0.99%.
Median Home Price in Warren, MI
Median Rent in Warren, MI
Top Reasons to Live in Warren MI
Housing Statistics Warren has a relatively low annual residential turnover rate (9 percent) and a low vacancy rate (7.5 percent), which can make finding a place to live more difficult or purchasing rent to own houses pricier here than elsewhere. Despite the low number of houses available, median and average sales price have remained stable over the past year, at $73,000 and $78,000. Of the residential properties that are occupied, 66 percent of homes are owned and 27 percent are rented (including rent to own homes).
Nightlife A night spent at Kuhnhenn Brewing is a guaranteed good time for most of the people living in Warren. The beer might be pricey, but the high quality of these craft beers and the fun and friendly atmosphere created by the live music makes it all worth it. Is it the best beer in town? That'll be up for debate as long as Schornat's Basement Bar and Beer are in business. Meanwhile, karaoke fans can head to Tipsy McStaggers to show off their pipes and enjoy cheap drinks.
Local Restaurants Warren has many restaurants, serving everything from Chinese and Mexican to Indian and Thai. The Italian fare available at Andiamo Italia on 14 Mile Rd is delicious, as are the kabobs at Oasis Mediterranean Cuisine. For a great brunch experience, head to Michelle's Restaurant for a scrumptious breakfast buffet.
Transportation and Commutes There isn't much public transportation in Warren so having a car here is essential. The average commute to work takes about 26 minutes, which just so happens to be the national average. Roughly 9 percent of people carpool to work, with the remaining 91 percent driving alone. Interstate 696 runs horizontally through the middle of Warren; traveling east it joins Interstate 94, while going west brings you to Interstate 75, taking you into Detroit. The famous 8 Mile Road, the namesake of Eminem's pseudo-biopic, runs along the south of the city's border.
School System No matter where you send your kids to school, they'll be well taken care of. All of the public schools in the area are very highly rated, including Fitzgerald Public Schools, Van Dyke Public Schools and Warren Woods Public School. A further three school districts - Center Line Public Schools, East Detroit Public Schools and Warren Consolidated Schools - oversee schools in Sterling Heights, Troy and Eastpointe as well as Warren. Five secondary schools serve Warren while another two, Center Line High School and East Detroit High School, also take students from the city. If you're looking to privately educate your children though, you have just one choice - De La Salle Collegiate High School for boys and Regina High School for girls.