Rent to own Homes in Marshall, MN
Marshall, MN used to have a big flooding problem, thanks to the Redwood River. Residents starting taking care of that in the 1960s by building diversion canals. Now the more than 13,000 residents of Marshall can go about their business without having home damage headaches. Marshall, which has been around since 1872, is the birthplace of actor Steve Zahn and headquarters of Schwan Food Company. The city offers plenty of perks, from mild summers to perfect sledding weather in winter.
Marshall, MN is a great place for affordable rent-to-own homes! With a median household income of over $48,236 and a median rent of $684, the Marshall, 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 Marshall, 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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56258 rent to own homesBuying a Home in Marshall, MN
Marshall, MN is seeing rapid growth and Marshall, MN's' housing market remains optimal with an average home price that is -28% below the 2024 national average. Marshall, MN is part of Lyon 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 Lyon is 1.04% which is above the national average, which is 0.99%.
Median Home Price in Marshall, MN
Median Rent in Marshall, MN
Top 7 Reasons to Live in Marshall, MN
Plenty of rental options! Marshall has a vacancy rate that's right around the national average, which means you'll find several apartments, rental houses and rent to own homes available. Look around the W. College Dr. and S. 2nd St. neighborhood or the Southwest Minnesota State U. and Rte. 59 area, where there are a higher number of renter-occupied properties.
Lower property taxes! Marshall residents enjoy property tax rates that are lower than the national average. Check out the Lynd and Ghent neighborhood or the area around Rte. 59 and Hwy. 23. The homes for sale that you'll find here also have the highest appreciation rates in Marshall.
Great places to eat! Marshall has several restaurants to head to for a quick bite to eat or a special night out. Wooden Nickel Burger and Brews serves up burgers, mac and cheese bake, sandwiches and meatloaf in a friendly atmosphere. At Mariachi Fiesta, you can enjoy spicy tacos, enchiladas and more.
Local events! Marshall has a calendar filled with fun local events. The Festival of Kites, which takes place on the Fourth of July, features a variety of impressive kites and fireworks. At the Sounds of Summer event in August, you can hear live music, watch a parade and sample local foods.
Outdoor fun! Marshall has plenty of parks offering fresh air and fun. Justice Park offers basketball courts, walking trails, biking trails and volleyball courts. Independence Park features a skating rink, trails, horseshoes and grilling areas.
Specialty shopping! Head to Orphanage Antiques to find one-of-a-kind gifts for loved ones. At BlueGreen Flowers, you can pick up creative floral displays for your home or seasonal ones for the holidays.
Arts and culture! Visit Lyon County Historical Museum to learn more about the area's past through special exhibits. At the Marshall Area Fine Arts Council, you can view art exhibits and see live performances.