Rent to own Homes in Elmwood Park, NJ
Situated in Bergen County, New Jersey, Elmwood Park is a borough that has been experiencing steady growth over the last few decades. Like many areas in the country, Elmwood Park underwent a variety of name changes as the area adapted and changed and did not settle upon Elmwood Park until 1973, when it was officially recognized. According to the most recent census data, the city has a population of 19,403, and a land area of about 2.76 square miles.
Elmwood Park, NJ is a great place for affordable rent-to-own homes! With a median household income of over $75,779 and a median rent of $1,698, the Elmwood Park, NJ 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 Elmwood Park, NJ. 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 Elmwood Park, NJ Property Resources
Rent to own Homes in Cities Near Elmwood Park, NJ
- Airmont
- Astoria
- Avenel
- Bardonia
- Bogota
- Boonton
- Chestnut Ridge
- Colonia
- Congers
- Connecticut Farms
- Corona
- Elizabeth
- Fords
- Garwood
- Grand View-on-Hudson
- Great Neck Estates
- Harrison
- Hillburn
- Hillcrest
- Hollis
- Jackson Heights
- Kearny
- Kenilworth
- Linden
- Llewellyn Park
- Madison
- Middle Village
- Mount Ivy
- Nanuet
- New Square
- North Caldwell
- Orangeburg
- Pearl River
- Perth Amboy
- Piermont
- Rahway
- Richmond Hill
- Roselle
- Saint Albans
- Secaucus
- Sewaren
- Sparkill
- Springfield
- Spring Valley
- Tappan
- Tuxedo Park
- Watchung
- Wesley Hills
- West Haverstraw
- William Paterson University Of New Jersey
Neighborhoods in Elmwood Park, NJ
Elmwood Park rent to own homesPopular Zip Codes in Elmwood Park, NJ
07407 rent to own homesBuying a Home in Elmwood Park, NJ
Elmwood Park, NJ is seeing rapid growth and Elmwood Park, NJ's' housing market remains not optimal with an average home price that is 70% above the 2024 national average. Elmwood Park, NJ is part of Bergen 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 Bergen is 1.76% which is above the national average, which is 0.99%.
Median Home Price in Elmwood Park, NJ
Median Rent in Elmwood Park, NJ
7 Reasons to Live in Elmwood Park, NJ
More real estate options available! Unlike many cities in New Jersey, Elmwood Park maintains a somewhat smaller town environment. This works well for the residents and creates more real estate opportunities. Depending on what you are looking for, the price of homes for sale can vary from one neighborhood to the next. Borough Center offers some of the nicest homes in New Jersey, but they come with a high price tag. Conversely, River Drive and Gilbert Avenue have more affordable homes available. If you want to delay ownership, there are rent to own homes on the market as well.
Reasonable rentals! Don't expect to find many homes for rent, but the apartments that are available offer reasonable rates. Elmwood Village Apartments offers some of the nicest in the area at a price that won't break the bank. Riverwalk is another popular option within the borough.
Walk through the local parks! Elmwood Park has that perfect balance between nature and city development. This is demonstrated through the various city parks, such as Rosemont Park or the larger Borough Park.
Become part of the community! Like any community of its size, the Elmwood Park government puts on regular community events for its residents. Each June they host a Community Day Festival where residents can gather together in appreciation. Additionally, the local Recreation Complex regularly hosts community events.
Get out and play! Elmwood Park has a variety of opportunities to get out and simply have some fun. The local Parkway Lanes is a great bowling alley that is open for anyone to enjoy. The Cutting Edge Ice Academy is another point of interest, providing a local ice rink.
Appreciate the local art! The area has its fair share of local artists looking to get noticed. In appreciation of this, there are a few great art galleries around, including the local Art's World and Collectively Yours.
Get out at night! If you're looking for someplace with a nightlife, Elmwood Park will not disappoint. Blue 42 is a great sports bar in the area. If you're interested in wine, the Just Grapes Lounge is the perfect spot to check out.