Rent to own Homes in Vancleave, MS

Rent-to-own homes in Vancleave, Mississippi, are in demand right now! Single-family homes with 3+ bedrooms are hot in this area, and a rent-to-own home can be an excellent investment if you're looking to purchase a home but can't afford a more traditional path. Demand for housing in Mississippi is aggressively growing, making housing prices climb. When there are fewer houses for sale and more people looking to buy, it creates a market in which sellers can increase their asking prices and hold out for a more significant bid on the home. While this type of market benefits sellers, many buyers are often left competing for homes that may not fit their needs but are available.

Vancleave is a relatively small town with a population of about 5,592. The majority of its residents are white females, with a large part of the community under 18. The median household income is approximately $56,602, while the average rent is around $1,182. The median cost of a home is $260,000, which means rent-to-own can be a much safer investment financially. Not only will you get to live in the house before you purchase it, but the average down payment on a rent-to-own home is around 1-3% of the cost of the home compared to the 20%+ of a traditional purchase.

Vancleave, MS is a great place for affordable rent-to-own homes! With a median household income of over $68,561 and a median rent of $1,138, the Vancleave, 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 Vancleave, 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.