Rent to own Homes in Smithtown, NY
Located in New York's Suffolk County on the northern shore of Long Island, Smithtown is a sizable town with a population of around 118,000 residents. The first European settlers came to the area around 1665, so there's plenty of history to the area, and a number of historic homes. There's fun to be had in the area too, no matter what your interests are. While it might not be a bustling metropolis, it's only about a 90-minute drive from New York City.
Smithtown, NY is a great place for affordable rent-to-own homes! With a median household income of over $137,625 and a median rent of $1,473, the Smithtown, 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 Smithtown, 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 Smithtown, NY Property Resources
Rent to own Homes in Cities Near Smithtown, NY
- Amityville
- Asharoken
- Babylon
- Baldwin
- Baldwin Harbor
- Barnum Island
- Bayville
- Bellmore
- Compo
- East Garden City
- East Meadow
- East Northport
- East Rockaway
- Elwood
- Flower Hill
- Freeport
- Glen Head
- Greenlawn
- Greens Farms
- Halesite
- Hauppauge
- Herricks
- Holbrook
- Huntington Bay
- Lake Ronkonkoma
- Levittown
- Lindenhurst
- Lloyd Harbor
- Locust Valley
- Malverne
- Manhasset Hills
- Massapequa Park
- Medford
- Mount Sinai
- Muttontown
- North Amityville
- North Merrick
- Northport
- North Wantagh
- Norwalk
- Port Jefferson Station
- Roslyn Heights
- Salisbury
- South Hempstead
- Stony Brook
- West Hills
- West Islip
- Wheatley Heights
- Williston Park
- Wyandanch
Neighborhoods in Smithtown, NY
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11787 rent to own homesBuying a Home in Smithtown, NY
Smithtown, NY is seeing rapid growth and Smithtown, NY's' housing market remains not optimal with an average home price that is 155% above the 2024 national average. Smithtown, NY is part of Suffolk 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 Suffolk is 1.7% which is above the national average, which is 0.99%.
Median Home Price in Smithtown, NY
Median Rent in Smithtown, NY
Top 5 Reasons to Live in Smithtown, NY
There are plenty of parks! You'll find an abundance of both city parks and state parks in Smithtown. Parks such as East Hill Park and Gaynor Park have some excellent facilities such as basketball courts, baseball fields and picnic areas. However, if you want to get close to nature, visit Caleb Smith State Park or Sunken Meadow State Park.
The cost of real estate is increasing! Real estate in Smithtown is an excellent investment, as house prices have been rising for some time now, and they don't look like they're about to drop. Property is highly sought after in the town and its proximity to New York City means that it will always be considered a convenient location. Popular areas in which to start your search for real estate include the neighborhoods of Hauppauge and Maple.
Beaches and open water! Due to Smithtown's location on the Long Island shores, there are some gorgeous beaches to relax on, or you can take to the water for some recreational fun. Head to the Nissequogue River for activities such as sailing and canoeing, or take a trip to Kings Park Bluff or Callahan's Beach.
A large percentage of owner-occupied homes! Around 85 percent of homes are owner occupied, which means Smithtown is an excellent place to settle down. However, there are still rental and rent to own homes available, too. Neighborhoods such as Stonebridge and Hidden Ponds frequently have rental properties available.
Excellent food! Everyone likes to eat out now and again, but it can get old if you have to keep visiting the same two or three eateries in your town. That's not the case in Smithtown, where there are numerous restaurants to suit all palates. Some of the local favorites include Maureen's Kitchen for classic American food, Butera's Restaurant of Smithtown for Italian cuisine, and Mykonos Cafe for traditional Greek food.