Rent to own Homes in Albany, OR
Fantastic vacancy rate! A 16.54% means you won't have to fight over your dream home. North Albany, a great place to look for rent to own houses, is a comfy neighborhood that appeals to residents who want to live on the outskirts of town. Central Albany overlooks the Willamette River and is close to businesses.
Albany, OR is a great place for affordable rent-to-own homes! With a median household income of over $62,172 and a median rent of $1,047, the Albany, OR 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 Albany, OR. 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 Albany, OR Property Resources
Rent to own Homes in Cities Near Albany, OR
Neighborhoods in Albany, OR
East Albany rent to own homes Periwinkle rent to own homes Central Albany rent to own homes Sunrise rent to own homes Willamette rent to own homes West Albany rent to own homes Broadway rent to own homes Oak rent to own homes Downtown Albany Historic District rent to own homes Hollywood Acres rent to own homesPopular Zip Codes in Albany, OR
97321 rent to own homesBuying a Home in Albany, OR
Albany, OR is seeing rapid growth and Albany, OR's' housing market remains not optimal with an average home price that is 12% above the 2024 national average. Albany, OR is part of Benton 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 Benton is 1.01% which is above the national average, which is 0.99%.
Median Home Price in Albany, OR
Median Rent in Albany, OR
Top 11 Reasons to Live in Albany
A great time to look for rent to own homes! The median sales price for Albany homes has gone down by 8.3% from last year, and 14.5% since last quarter. And one of the advantages of living in an Albany community like Willamette or Sunrise is its proximity to downtown shops and the north-south transportation corridor, I-5.
Lots of property choices for good prices! The average price per square foot has dropped 2.8% from the same time last year. East Albany features older, rural homes, while listings in the Oak neighborhood are closer to amenities. Both are within easy reach of highways.
Many subdivisions and home styles to choose from! There are more than a dozen Albany areas in which to find rent to own properties. Approximately 40% of property in the city are renter occupied. That's more than the state of Oregon, which averages is 33%. Two popular sections of town are Jackson Hill and Santiam, near downtown.
Enjoy a scenic drive to the Coast! It's only an hour's drive to the coastal city of Newport and must-see places like the Oregon Coast Aquarium. Living in Albany affords lots of time to see the year-round sights!
Head to the Park! Dave Clark Trail and the Takena Landing Trail, both on Willamette River, and Timber Linn Park offer miles of enjoyment and lots of places to picnic.
Go apple and blueberry picking! U-pick orchards, like Albany's Seven Oaks Native Nursery and Springbank Farm in nearby Lebanon feature no-spray fruit. Go during the summer for the best choices, but ask about other picking seasons, too.
Explore the art and history of Linn County! Oregon is a Mecca for art lovers. The Gallery Calapooia and the city's Regional Museum are great places to learn about the area's artisans and founders. The Visitor's Center also has a list of art galleries throughout the Albany-Portland area.
Go biking! Albany is home to the Criterium Bike Race, which takes place in mid-August. Areas like Periwinkle Creek Trail is just one of many scenic places to peddle. Cycling is also a great way to see the Willamette wine district.
Take in a year of festivals! The River Rhythms Summer Concert Series and the ATI NW Art and Air Festival, with its colorful air balloons, are must-see events. Portland, and many stops along I-5 host a variety of music, wine and art festivals throughout the year.
Hit a round or two of golf! The Albany Golf Club and the Marysville Golf Course near Corvallis are just two of the places to practice your swing.