Rent to own Homes in Laurel, MS
Laurel was founded in 1882, and quickly became a thriving mill town located in what is known as Mississippi's Pine Belt. It was known for its yellow pine and shipped more of it than anywhere else in the world. The railroad was a major factor in its growth and Amtrak still connects Laurel with New York, Washington, D.C., Atlanta and New Orleans. Oil was discovered in 1942, changing Laurel's character forever and spawning more than 150 related businesses, but it retains its historic Main Street and tree-lined residential neighborhoods.
Laurel, MS is a great place for affordable rent-to-own homes! With a median household income of over $34,114 and a median rent of $703, the Laurel, MS 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 Laurel, MS. 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 Laurel, MS
Neighborhoods in Laurel, MS
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39440 rent to own homesBuying a Home in Laurel, MS
Laurel, MS is seeing rapid growth and Laurel, MS's' housing market remains optimal with an average home price that is -57% below the 2024 national average. Laurel, MS is part of Jones 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 Jones is 0.66% which is below the national average, which is 0.99%.
Median Home Price in Laurel, MS
Median Rent in Laurel, MS
Laurel, MS is a true Southern Belle with loads of charm
Reasonable Housing: The median house value in Laurel is $75,620, which is low compared with the nation as a whole, but not near the lower end in the state. Property values have increased about 20 percent over the past decade. About half of Laurel's homes are single-family detached models, built between the 1940s and 1960s, but there are also duplexes, larger homes converted to multi-family housing and small apartments, as well new apartment complexes. The Eastview neighborhood has large trees and is an established area with small to medium-sized homes and small apartment buildings. Many newer and larger homes have been built in the Route 15/Audubon Drive area,
History and Art: You can escape the stresses and rigors of modern life with a visit to Landrum's Homestead & Village. It's a complete historical recreation of life the way it used to be lived and includes live animals, a working grist mill, a maze and mystery house, rock mining, a gift shop and a variety of other treats. An experience of another kind is a visit to the Lauren Rogers Museum of Art. Located right downtown, it contains ever-changing exhibits and displays a great collection of Indian baskets, pottery, jewelry, antiques and art of all kinds.
Encouraging New Construction: The city issued more than 1,100 permits for new construction, remodeling and repairs in 2013, confirming that Laurel is a good place to invest in real estate. More than 100 of those permits were for duplexes and multi-family units. Although more than 50 percent of residents own their homes, finding rent to own property should not be difficult. Rents are, on average, higher here than in most of the state, but still reasonable. Approximately 11 percent of the housing in the City Center neighborhood is small apartment buildings. It is a popular, walkable area, close to the Amtrak Station and Lee's Coffee & Tea.
Eating Out: From down-home casual to romantic date night, you can find a great place to dine in Laurel. The Loft on Central Avenue is where you'll want to dress up and celebrate a special occasion. For casual fun and good food, head on over to Topher's Rock 'n Roll Grill or when you have a taste for Cajun spice, New Orleans flair and Gulf Coast specialties, stop in at Cafe La Fleur.