Quaint and charming, Fayetteville, North Carolina may be the perfect place to call home. The rent to own options here are plentiful and home prices tend to be affordable. All of this helps to contribute to the desire of individuals to purchase rental property or homes for sale here. The city is in Cumberland County and is home to more than 205,000 people. It is perhaps best known as the home of Fort Bragg, a US Army installation located just to the north of the city itself. As a result, many people enjoy living in this area due to the proximity of the base.
Fayetteville, NC is a great place for affordable rent-to-own homes! With a median household income of over $46,321 and a median rent of $960, the Fayetteville, 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 Fayetteville, 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.
Fayetteville, NC is seeing rapid growth and Fayetteville, NC's' housing market remains optimal with an average home price that is -38% below the 2023 national average. Fayetteville, NC is part of Cumberland 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 2023 for county Cumberland is 1.14% which is above the national average, which is 0.99%.
The average cost of living in Fayetteville, NC, is 20% lower than the national average, meaning Fayetteville is cheaper to live in than the national average.
The average cost in Fayetteville, NC, is $180,000, below the national average of $295,300.
If you're interested in Fayetteville rent-to-own homes, don't forget to consider important factors in addition to monthly living costs, such as average commute, taxes, crime rates, etc. The following are some common Fayetteville statistics compared to the U.S. national average.
|Fayetteville Averages||National Averages|
|One-Way Commute||34 minutes||27.1 minutes|
|Income Tax Rate||5.25%||4.6%|
|Air Quality||AQI 48||AQI 40|
|Median Household Income||$73,526||$79,900|
|Median Property Taxes||$1,798||$2,471|
|Median Home Cost||$180,000||$295,300|
|Median Home Age||34.3 years||37 years|
One of the most important considerations for individuals purchasing homes in Fayetteville, North Carolina is the affordability of doing so. The rent to own options are good, but understanding the value of homes here and the market conditions is also important. The city's housing statistics help to paint a picture of the market conditions. The average listing price of a home here, as of the second week of August 2013 sit at $176,183. This is slightly lower than the same time the year prior. The median sale price of a home in the second quarter of 2013 stood at $120,000. That is about 3.5% lower than the sale price of homes in 2012. About 1,222 homes sold in the previous year. About 650 homes have sold in the first half of 2013, providing an increase of 22% for the region over 2012's figures.
As a large city, the transportation options in Fayetteville are numerous. The All American Freeway, Martin Luther King Jr Freeway, Interstate 95, and Interstate 295 (still under construction) service the area. Additionally, NC 24, NC 53, and NC 59 run through the region. This ensures for an easy commute into town. It allows for a short drive to Fort Bragg, but also provides for easy access to Raeford, Spring Lake, Hope Mills and Eastover, all large cities in the area. As one of the largest metro areas in North Carolina, getting around easily is essential.
In North Carolina, there are lakes, parks and wildlife present in nearly all areas, including Fayetteville. Arnette Park is one of the options for locals. This park offers hiking trails, a large, open park, and an 18 hole mini-golf course. The Baywood Golf Club is also in the city. This 18-hole golf course covers 140 acres and has a 72 par. For animal fun, check out Jambbas Ranch. It provides access to various types of animals in a zoo-like setup, though it is small. Fayetteville Motor Sports Park is also located here. It is part of the International Hot Rod Association and the perfect place to burn off some steam. Fayetteville Swamp Dogs is a local baseball team to watch. Another option is to spend the day learning to dive through Cape Fear Scuba.
As a large city, Fayetteville has a variety of neighborhoods buyers may want to consider. Each area is slightly different, but since most of the region is residential, there are numerous rent to own homes throughout this city. The following are some of the largest neighborhoods in the city.
While Fayetteville has a higher violent crime rate, it's listed as number 8 on the list of the top 25 safest cities in North Carolina. It's also listed as number 74 out of the 182 safest cities in the US.
Yes, it does. Fayetteville is approximately 84 miles from the shore, and North Carolina hurricanes can go 100-200 miles inland and still cause significant damage.
The average cost of daycare in Fayetteville, NC, is $98.37 a day (9 hours), which is above the national average of $40 a day.
The median cost of a house in Fayetteville, NC, is $180,000, which is below the national average of $295,300.