Rent to own Homes in Elizabeth City, NC
Elizabeth City is known as the Harbor of Hospitality for its historic role in the shipping and transportation industry. While the town only had a population of 18,683 in the 2010 census, it's the center of the larger Albemarle region, which includes the surrounding 16 counties. The city's setting, along the Pasquotank River, provides abundant waterfront property, appealing to potential home buyers looking for spectacular scenery.
Elizabeth City, NC is a great place for affordable rent-to-own homes! With a median household income of over $43,024 and a median rent of $938, the Elizabeth City, NC 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 Elizabeth City, NC. 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 Elizabeth City, NC Property Resources
Rent to own Homes in Cities Near Elizabeth City, NC
Neighborhoods in Elizabeth City, NC
Matthews Acres rent to own homes Edgewood rent to own homes Chesterfield Heights rent to own homes Adams Landing rent to own homes Pelican Pointe rent to own homes Downtown Elizabeth City rent to own homes Forest Park rent to own homes Laurel Park rent to own homes Hugh Cale rent to own homes Elizabeth City State University rent to own homesPopular Zip Codes in Elizabeth City, NC
27909 rent to own homesBuying a Home in Elizabeth City, NC
Elizabeth City, NC is seeing rapid growth and Elizabeth City, NC's' housing market remains optimal with an average home price that is -31% below the 2024 national average. Elizabeth City, NC is part of Pasquotank 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 Pasquotank is 0.64% which is below the national average, which is 0.99%.
Median Home Price in Elizabeth City, NC
Median Rent in Elizabeth City, NC
Top 5 Reasons to Live in Elizabeth City, NC
History and the arts! Elizabeth City has a rich history that is highlighted in the Museum of the Albemarle. The museum is located close to the waterfront and includes revolving and permanent exhibits. The Virginia Dare Hotel and Arcade is one of the city's historic buildings that dates back to 1927. There are a host of antebellum homes in the area and the city has six separate historic districts on the National Register.
Boating and the outdoors! Elizabeth City is located a short distance from the Dismal Swamp Canal and there are numerous opportunities for boating, fishing and swimming. The Mariners Wharf has 17 slips and can accommodate vessels of up to 50 feet. Free boat launching is available at the Dog Corner Park and the Waterfront Park.
Attractive property prices! Home values in Elizabeth City are attractive to potential buyers and the median price of properties sold in 2014 was $120,300. Since 30.7 percent of the city's homes were underwater in 2014, supply is expected to outpace demand, which is great for those who are interested in rent to own homes. The Riverside or Mount Hermon neighborhoods are some of the most desirable areas within the city.
Great dining options! Try Montero's Restaurant, Bar and catering for a great steak in a homey, yet elegant setting. For excellent fried rice and sushi that locals love, head over to Toyoma Japanese Restaurant on N Poindexter Street.
Affordable property taxes and abundant public spaces! In Elizabeth City, NC, homeowners benefit from some of the lowest property taxes in the country. The median real estate tax for homes with mortgages was only $1,388 in 2012. While taxes are low, there are still more than 36 different parks and public spaces. The Knobbs Creek Park has its own par-3 golf course and a recreation center. The 29-acre park also hosts regular sporting games at Holmes Field.