Rent to own Homes in Farmington, MO
Located in St. Francois County, Missouri, Farmington is part of the Greater St. Louis area and is located just 59.3 miles from the city. Established in 1822, Farmington was founded by a Kentuckian, William Murphy, and was briefly named both Murphy's Settlement and St. Francois Court House prior to becoming known as Farmington. The city's population was 90,554 in the 2010 U.S. Census. Ninety-eight percent of the area's citizens live in urban areas, while the remaining 2 percent live in rural areas.
Farmington, MO is a great place for affordable rent-to-own homes! With a median household income of over $44,093 and a median rent of $691, the Farmington, MO 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 Farmington, MO. 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.
More Farmington, MO Property Resources
Rent to own Homes in Cities Near Farmington, MO
- Arcadia
- Belgrade
- Belleview
- Bismarck
- Blackwell
- Bloomsdale
- Bonne Terre
- Briarwood Estates
- Cadet
- Caledonia
- Crystal City
- Desloge
- De Soto
- Dittmer
- Doe Run
- Farmington
- Festus
- Fletcher
- Frankclay
- French Village
- Goose Creek Lake
- Grayhawk
- Grubville
- Herculaneum
- Hillsboro
- Horine
- Irondale
- Iron Mountain Lake
- Ironton
- Knob Lick
- Lake Timberline
- Leadington
- Leadwood
- Middle Brook
- Mineral Point
- Olympian Village
- Park Hills
- Pilot Knob
- Potosi
- Raintree Plantation
- Richwoods
- Sainte Genevieve
- Summer Set
- Terre du Lac
- Valles Mines
- Weingarten
- Wortham
Neighborhoods in Farmington, MO
No neighborhoods foundPopular Zip Codes in Farmington, MO
No zip codes foundBuying a Home in Farmington, MO
Farmington, MO is seeing rapid growth and Farmington, MO's' housing market remains optimal with an average home price that is -38% below the 2024 national average. Farmington, MO is part of St. Francois 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 St. Francois is 0.75% which is below the national average, which is 0.99%.
Median Home Price in Farmington, MO
Median Rent in Farmington, MO
Top Four Reasons to Live in Farmington, MO
Enjoy delicious cuisine and fun things to do! Stop by the Branding Iron BBQ on Maple Valley Drive, El Tapatio Mexican Restaurant on Walton Drive and the Catfish Kettle Restaurant on Weber Road. Some other popular restaurants are Steak N' Shake, which features burgers and fast food, Colton's Steakhouse and Grill, and 12 West Restaurant. Spend some time at Engler, Trimfoot and Wilson-Rozier Parks. St. Joe State Park offers a swimming area and trails for hiking, ATV riding, horseback riding and bicycling.
Take advantage of low housing costs! The average housing price for all units in 2011 was $120,782 and $126,369 for detached houses. With the variety of housing available, it's likely you can find a rent to own option, a traditional or VA/FHA loan to suit your needs. Crown Pointe Golf Club, St. Francois Country Club and Hurryville Driving Range and Par are popular recreation outlets near subdivisions. The 18-hole Eagle Lake Golf Course received a rating of four stars from Golf Digest Magazine.
Pay low real estate property taxes! In 2012, the average real estate tax for units with mortgages was $897, and the average tax for units without a mortgage was $993. Crown Pointe Lodge is a convenient place to stay while you're searching for your new home. If you plan to set up shop with your own business, growing downtown Farmington offers prime locations. The Farmington Regional Chamber of Commerce helps local business owners and provides plenty of free information on the area. Brockmiller Construction, Stan Heberlie Construction, Inc. and Gibson Quality Roofing and Construction Co., Inc. can help those who plan to build a new home or remodel an older dwelling.
Select from lots of job opportunities! Major employers in the area include Mineral Area Regional Medical Center, SRG Global, U.S. Tool Grinding, Accent Call Center, Centene Corporation, BJC Parkland and USA Drug. Major retailers include Walmart, Lowes, J.C. Penney and Sears. Farmington Regional Airport and Union Pacific Railroad provides both transportation and employment for residents.