Rent to own Homes in Lebanon, MO
In an interesting tidbit from history, the city of Lebanon in Missouri was actually named after the city of Lebanon in Tennessee. While this is strange, compared to how most towns get their names, it's nowhere near the strangest thing about Lebanon. This title would have to go to the magnetic water in the town. That's right: the water is magnetic. Don't worry too much, though; people actually come to bathe in the water, believing that it has healing properties.
Lebanon, MO is a great place for affordable rent-to-own homes! With a median household income of over $41,160 and a median rent of $670, the Lebanon, 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 Lebanon, 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.
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Rent to own Homes in Cities Near Lebanon, MO
Neighborhoods in Lebanon, MO
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65536 rent to own homesBuying a Home in Lebanon, MO
Lebanon, MO is seeing rapid growth and Lebanon, MO's' housing market remains optimal with an average home price that is -52% below the 2024 national average. Lebanon, MO is part of Laclede 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 Laclede is 0.65% which is below the national average, which is 0.99%.
Median Home Price in Lebanon, MO
Median Rent in Lebanon, MO
Top 3 Reasons to Live in Lebanon
Home values on a positive trend! Although many American cities had far different experiences during the bursting of the housing bubble, Lebanon's was right in line with America's average. In fact, the drop in Lebanon's home valuations over the last five years was only a tenth of a percentage point away from the American average. Over the past decade, though, housing values have gone up nearly 17 percent in the city. As a result, everything from rent to own houses near Interstate 44 to condos near Gasconade City Park could be a great investment, since valuations are on a positive trend.
History for any taste! It's easy to tout museums or art galleries as positive aspects of a city, but what if a resident doesn't like natural history and there's only a natural history museum in town? Or what if the only historical landmark is an alleged haunted house and a resident just finished watching Halloween? Fortunately, the history in Lebanon can meet all tastes. If someone is interested in dark history, the Laclede County Jail, aka Laclede County Museum, is nearby. NASCAR fans? The Lebanon Interstate 44 Speedway, over 30 years old and the only oval asphalt track in Missouri, is here. For those who just like old places? The Ploger-Moneymaker House was constructed in 1880, so check that out.
Low taxes and affordable housing! Even though property valuations in the area have been on the rise, it still doesn't cost an arm and a leg to purchase a place in Lebanon. In fact, housing prices in the city are 44 percent lower than the national average. In addition, property tax rates are nearly half of what other cities in America pay on average. This is all on top of the fact that over 60 percent of all homes in the area are inhabited by owners rather than renters. This means you're getting great value on housing in a place where people actually enjoy living. So live it up and use those savings to travel up the interstate and visit the Bear Creek Conservation Area or to just enjoy a weekly movie at the Lebanon Ritz 8 Theater.