Rent to own Homes in Rio Rancho, NM
Rio Rancho, New Mexico, serves as the economic hub of the Sandoval County. As one of the largest cities in New Mexico, Rio Rancho is experiencing rapid growth, and it is currently one of the fastest growing cities in New Mexico. Rio Rancho also has the distinction of being the first city in the United States to offer citywide voice-over-Wi-Fi to its residents.
Rio Rancho, NM is a great place for affordable rent-to-own homes! With a median household income of over $66,733 and a median rent of $1,157, the Rio Rancho, NM 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 Rio Rancho, NM. 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 Rio Rancho, NM Property Resources
Rent to own Homes in Cities Near Rio Rancho, NM
- Abeytas
- Adelino
- Albuquerque
- Belen
- Bosque
- Bosque Farms
- Carnuel
- Casa Colorada
- Chical
- El Cerro
- El Cerro Mission
- Isleta
- Isleta Village Proper
- Jarales
- Kirtland Afb
- Las Maravillas
- Las Nutrias
- Los Chaves
- Los Lunas
- Los Ranchos de Albuquerque
- Madrone
- Meadow Lake
- Monterey Park
- North Valley
- Pajarito Mesa
- Peralta
- Pueblitos
- Rio Communities
- Sausal
- South Valley
- Tome
- Valencia
- Veguita
Neighborhoods in Rio Rancho, NM
Quail Ranch rent to own homes Western Hills rent to own homes Vista Hills rent to own homes Enchanted Hills rent to own homes Rio Rancho Estates rent to own homes Sierra Norte rent to own homes Panorama Heights East rent to own homes Broadmoor rent to own homes Solar Village Mid Unser rent to own homes Tampico rent to own homesBuying a Home in Rio Rancho, NM
Rio Rancho, NM is seeing rapid growth and Rio Rancho, NM's' housing market remains optimal with an average home price that is -8% below the 2024 national average. Rio Rancho, NM is part of Sandoval 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 Sandoval is 0.68% which is below the national average, which is 0.99%.
Median Home Price in Rio Rancho, NM
Median Rent in Rio Rancho, NM
Top Reasons to Live in Rio Rancho, NM
Housing Statistics The average listing price of homes in Rio Rancho is $216,124 for the week ending August 7th 2013. This is a $267, or 0.1% increase in the week over week listing price. The average sale price has remained relatively stable for the past two years, averaging about $175,000 per home. The disparity between the average listing price and the average sales price indicates that lower priced homes are selling more often than higher priced homes, and that homeowners are accepting offers significantly lower than their initial listing price. Home sales have decreased dramatically in the first quarter of 2013. In Q1 of 2013, just over 150 homes were sold in Rio Rancho. To compare, there were just over 1,000 homes sold in Q1 of 2012. All of these data points indicate that the housing market in Rio Rancho is currently weak. This could indicate that this is either a good time to buy or rent to own real estate inexpensively, or that the local housing market has a ways to go before bottoming out.
School Systems Rio Rancho has a number of quality schools for their students to choose from. The school district serves 16,762 students with a staff of 1,950 staff members. There are four high schools in the district, which include: Rio Rancho High School, V. Sue Cleveland High School, Independence High School, and Rio Rancho Cyber Academy. There are four middle schools, which include: Eagle Ridge Middle School, Rio Rancho Middle School, Mountain View Middle School, and Lincoln Middle School. In addition, there are also 9 elementary schools and one preschool run by the school district. The large number of schools and the 8.5 to 1 student to staff ratio means students in the Rio Rancho School District receive lots of personalized attention and supervision.
Local Sports The city of Rio Rancho has had some difficulty maintaining sports teams in recent years. In 2008, the New Mexico Wildcats, an indoor football team, relocated to Rio Rancho's event center known as the Star Center. Unfortunately, the team broke apart at the end of the 2009 season, lasting only two seasons in Rio Rancho. Then in 2010, The NBA development team, the New Mexico Thunderbirds, as well as a NAHL team called the New Mexico Mustangs moved to the Star Center. However, the Thunderbirds were sold to the Cleveland Cavaliers in Ohio and the Mustangs were transferred to Richfield Minnesota in 2011 and 2012 respectively, which once again left Rio Rancho without sports teams to cheer on. However, it appears as though Rio Rancho's luck is changing, with the signing of a five-year contract with the indoor football team, the New Mexico Stars. Hopefully this indicates a change of fortunes for sports fans in Rio Rancho.
Weather and Climate The climate in Rio Rancho is considered semi-arid, which means that there is more rainfall and vegetation than typical desert climates, but also significantly less than one would find in temperate or tropical zones. The average high is 70.1 degrees Fahrenheit, and the average low is 37.6 degrees Fahrenheit, making Rio Rancho much more hospitable than one would expect from being in stereotypically hot New Mexico.
Transportation ABQ Ride is the transit authority for Rio Rancho. They operate a bus route that connects riders to the New Mexico Rail Runner Express, a commuter rail system that serves the greater Albuquerque and Sante Fe metropolitan areas. There were two additional bus routes added in 2011, the 96 Crosstown Commuter and the 551 Jefferson/Paseo Del Norte Express. These new lines help alleviate traffic and provide additional options to commuters using mass transit.