Rent to own Homes in Lakewood, NJ
The great outdoors! Lake Carasaljo offers boating, hiking, and 4th of July fireworks. Other lakes include Lake Waddill, on Kettle Creek, and Lake Manetta and Lake Shenandoah, on the South Branch of the Metedeconk River.
Lakewood, NJ is a great place for affordable rent-to-own homes! With a median household income of over $50,139 and a median rent of $1,419, the Lakewood, 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 Lakewood, 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 Lakewood, NJ Property Resources
Rent to own Homes in Cities Near Lakewood, NJ
- Allentown
- Bay Head
- Bayville
- Beachwood
- Browns Mills
- Cedar Glen Lakes
- Clearbrook Park
- Cookstown
- Country Lake Estates
- Cream Ridge
- Crestwood Village
- Crosswicks
- Deans
- Dover Beaches South
- Forked River
- Groveville
- Hightstown
- Holiday Heights
- Howell
- Jackson
- Jamesburg
- Joint Base Mdl
- Lakehurst
- Lanoka Harbor
- Leisure Knoll
- Leisure Village West
- Madison Park
- Manasquan
- Matawan
- McGuire AFB
- Milltown
- Monmouth Junction
- New Egypt
- Ocean Gate
- Old Bridge
- Pine Beach
- Pine Lake Park
- Plainsboro Center
- Point Pleasant
- Point Pleasant Beach
- Presidential Lakes Estates
- Ramtown
- Robbinsville Center
- Seaside Heights
- Silver Ridge
- South River
- Toms River
- Vista Center
- Wrightstown
- Yardville
Popular Zip Codes in Lakewood, NJ
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Lakewood, NJ is seeing rapid growth and Lakewood, NJ's' housing market remains not optimal with an average home price that is 129% above the 2024 national average. Lakewood, NJ is part of Ocean 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 Ocean is 1.47% which is above the national average, which is 0.99%.
Median Home Price in Lakewood, NJ
Median Rent in Lakewood, NJ
Top 11 Reasons to Live in Lakewood
Baseball! The Lakewood BlueClaws are the minor-league affiliate of the Philadelphia Phillies. The team draws an average attendance of more than 6,200 fans per game! They play at FirstEnergy Park, which has also served as a music venue for touring artists such as Bob Dylan.
Culture and Entertainment! The Strand Center for the Arts is a theater located in historic downtown Lakewood. Built in 1922, it offers concerts, plays, comedy, and more, featuring local and national acts! It also houses the School of the Arts for anyone interested in spring and summer classes.
Booming industry! Industrial Parks provides over 10,000 jobs to those in Lakewood and a booming local economy. It is a corporate center for many green energy companies and technology, boasting around 200 buildings and over 2200 acres! Nearby the park is beautiful Lake Shenandoah.
Booming population! Lakewood was named in 2010 as fastest growing city in NJ, one of the top 10 most populated municipalities in the state. Between 2000 and 2010 there was an increase of over 15,000 people. If you want to live there, check out homes near Lake Manetta or Lake Carasaljo. If you want to move now, 9% of homes are vacant -- so start looking!
Home value! The median home value in Lakewood is 2.4% greater than the New Jersey state average and 97.7% greater than the National average. Whether you are seeking a house for sale or a rent to own home, property purchased in Lakewood is a great investment. Condominiums are also available in the retirement developments of Leisure Village and Leisure Village East.
Affordability! While areas of Lakewood can be pricey, there is an abundance of beautiful, rent to own houses or single family homes for sale that are well below the national average. There are many charming residential neighborhoods with sidewalks and Victorian lamp posts. Popular neighborhoods include Seven Stars and Locust Manor. If you want to rent, expect to pay an average of $961 per month for a studio apartment.
Location! Lakewood is centrally located in proximity to several major metropolitan areas, but without the hassles and expense of actually living in the big city. Rent to own homes can be a good option for those on a budget. It's hard to beat a city that is an hour's drive from New York, Newark, Atlantic City, and Philadelphia. The Garden State Parkway has two interchanges, exit 89 and 88, that serve Lakewood. When you live here, you can get to know your neighbors, too, since the annual residential turnover is only around 15%.
Low Sales Tax! Portions of Lakewood are located in an Urban Enterprise Zone. Along with other benefits, shoppers receive a reduced sales tax of 3.5% , compared to the 7% tax rate for the state of New Jersey. Want to shop here? There are great stores like Cross River Mill and CG Novelties.
The Jersey Shore! Lakewood is a short drive away from the Atlantic and many fabulous beaches in Point Pleasant, Seaside Heights, and Long Beach Island- all the more reason it is a perfect place to rent to own a home. These popular destinations make the perfect summer "staycations!" Historically Lakewood was a popular get-a-way destination for wealthy New Yorkers. Want to get some beach gear in Lakewood? Check out Bra & Girdle factory for bathing suits or Linen Gardens for towels.
The nightlife! Lakewood boasts excellent nightlife opportunities, so you can have fun after sun goes down. Like to dance? Check out Club Maggies. If you want to taste your favorite brew, Cosmopolitan Bar is a great choice.