Rent to own Homes in Hutchinson, MN
Located just over an hour west of Minneapolis, Hutchinson is the perfect city for those eager to enjoy the small-town Minnesota experience without feeling like they are living in the middle of nowhere. The vibrant city boasts a number of lovely historic sites and structures, including a recently refurbished depot and the State Theater, which has been entertaining visitors and locals since 1937.
Hutchinson, MN is a great place for affordable rent-to-own homes! With a median household income of over $56,083 and a median rent of $726, the Hutchinson, MN 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 Hutchinson, MN. 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 Hutchinson, MN
- Arlington
- Belle Plaine
- Biscay
- Carver
- Chanhassen
- Chaska
- Cologne
- Crown College
- Delano
- Gaylord
- Glencoe
- Greenfield
- Green Isle
- Hamburg
- Henderson
- Howard Lake
- Independence
- Jordan
- Lester Prairie
- Le Sueur
- Maple Plain
- Mayer
- Minnetrista
- Montrose
- Mound
- New Auburn
- New Germany
- Norwood Young America
- Orono
- Plato
- Rockford
- Shorewood
- Silver Lake
- Spring Park
- St. Bonifacius
- Tonka Bay
- Victoria
- Waconia
- Watertown
- Waverly
- Winsted
- Young America
Neighborhoods in Hutchinson, MN
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55350 rent to own homesBuying a Home in Hutchinson, MN
Hutchinson, MN is seeing rapid growth and Hutchinson, MN's' housing market remains optimal with an average home price that is -28% below the 2024 national average. Hutchinson, MN is part of McLeod 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 McLeod is 1.1% which is above the national average, which is 0.99%.
Median Home Price in Hutchinson, MN
Median Rent in Hutchinson, MN
Top 5 Reasons to Live in Hutchinson, MN
Vibrant downtown area! Although Hutchinson is home to well over 14,000 residents, the city's downtown area gives it the appealing atmosphere of a much smaller town. Main Street Antiques is a local favorite, with residents mingling with visitors at the expansive store. The Main Street Sports Bar is also popular among Hutchinson community members, particularly during Vikings football games on Sunday afternoons. Recreational enthusiasts prefer to spend their time at Outdoor Motion, where they can invest in high-quality bikes.
Beautiful homes! Hutchinson is home to several gorgeous structures, with many of the area's most beautiful houses located near Otter Lake. The city boasts a number of historic buildings, including the Harrington and Merrill House, as well as the Adam's and Quast House, which was constructed in 1902.
Low vacancy rate! From the Ridgedale Square Apartments to the Twin Oaks Townhomes, residents are clearly eager to live in Hutchinson. In 2014, the city's vacancy rate was an impressive 2.04 percent. Many of the city's homes are occupied by residents taking advantages of local rent to own opportunities.
Gorgeous parks! With a river and several lakes located in the Hutchinson area, it's easy to see why residents spend so much time at the city's beautiful parks. Those lucky enough to reside in houses and apartments near Otter Lake spend their summer afternoons at Roberts and Odd Fellow's Parks. South Park is an excellent place to check out Hutchinson's fall colors, while McLeod County Veterans Memorial Park pays homage to the many selfless Minnesotans who gave their lives during World War I, World War II, the Korean War and the Vietnam War.
Plenty of opportunities for crafting enthusiasts! From scrapbooking to quilting, members of the Hutchinson community are obsessed with arts and crafts. Many enjoy spending time at two of the area's most popular retreats: the Pheasant Run Retreat and the Plum Creek Retreat. Quilters often pick up supplies at Quilt Haven on Main, which is one of Minnesota's most impressive quilting shops.