Rent to own Homes in Lockport, NY
Situated in the heart of Niagara County in New York State, Lockport has a population in excess of 20,000 inhabitants. The city is positioned roughly midway between Lake Erie and Lake Ontario and lies on both the Erie Canal and the more recently built New York State Barge Canal, and Lockport actually gets its name from the locks that were constructed for these waterways. The city covers some eight and half square miles of land.
Lockport, NY is a great place for affordable rent-to-own homes! With a median household income of over $46,706 and a median rent of $731, the Lockport, NY 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 Lockport, NY. 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 Lockport, NY Property Resources
Rent to own Homes in Cities Near Lockport, NY
- Akron
- Alden
- Billington Heights
- Blasdell
- Boston
- Bowmansville
- Buffalo
- Cheektowaga
- Clarence
- Clarence Center
- Colden
- Corfu
- Depew
- Derby
- East Amherst
- East Aurora
- East Concord
- Eden
- Eggertsville
- Elma Center
- Gasport
- Getzville
- Glenwood
- Grand Island
- Grandyle Village
- Hamburg
- Harris Hill
- Holland
- Kenmore
- Lackawanna
- Lake View
- Lancaster
- Lewiston
- Lockport
- Newfane
- Niagara Falls
- Niagara University
- North Boston
- North Tonawanda
- Orchard Park
- Ransomville
- Sloan
- South Lockport
- Tonawanda
- Tonawanda Town
- Town Line
- University at Buffalo
- Wanakah
- West Seneca
- Williamsville
Neighborhoods in Lockport, NY
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Lockport, NY is seeing rapid growth and Lockport, NY's' housing market remains optimal with an average home price that is -56% below the 2024 national average. Lockport, NY is part of Niagara 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 Niagara is 3.06% which is above the national average, which is 0.99%.
Median Home Price in Lockport, NY
Median Rent in Lockport, NY
Top 7 Reasons to Live in Lockport, New York
Great transport links! New York Routes 78, 31, 77 and 93 all crisscross the city of Lockport, and interstate 90 is only about a 20 minute drive away. To pick up the interstate, head south on South Transit Street and go past Altro Park.
Renting opportunities! About half of Lockport's housing stock is owner occupied, but there are around 4,000 dwellings that are rental homes or apartments. The rent to own market is also strong all over the city - from Davison Road, in the east, to Niagara Street, in the west.
The Lockport Erie Canal Museum! This museum offers the chance to see historic photographs, engineering plans and antique machines that date back to the canal's heyday. It is situated on Church Street, near to the junction with Ontario Street.
Great places to eat! Many of the restaurants in Lockport are clustered around East and West Avenues, or Highway 31. For a great view try the Canalfront Sandwich Shop, which is open until 7pm most days. For something more substantial, head to the ivy-clad Shamus Restaurant on West Avenue, or Garlock's Restaurant on South Transit Street.
Historic real estate! Over seventy percent of the housing stock in Lockport dates back to 1959 or earlier. There are plenty of nineteenth century buildings for potential buyers to choose from -- most of this type of property lies in the city center on streets like Genesee Street or Walnut Street.
Great parks! The city has plenty of green spaces. Upson Park is a typical example and centrally located close to the canal front. Rolin T. Grant Gulf Wilderness Park in the northwest of the city is larger and offers some great marked hiking trails.
Notable local businesses! Lockport has some great employers. For example, the Internet giant, Yahoo, has one of its large data centers situated in the west of the city. The First Niagara Bank, with offices on East Avenue, also has a big presence.