Rent to own Homes in Altamont, OR
Altamont, Oregon boasts a modest population of just under 20,000 residents. This suburban neighborhood of Klamath Falls is noteworthy for historic architecture which lends a varied appearance to its buildings and homes. The majority of the homes were constructed between 1940 to 1969. A few areas of the town feature homes built between 1970 and 1999, when Altamont experienced a construction boom.
Altamont, OR is a great place for affordable rent-to-own homes! With a median household income of over $48,285 and a median rent of $825, the Altamont, 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 Altamont, 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.
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Altamont, OR is seeing rapid growth and Altamont, OR's' housing market remains optimal with an average home price that is -25% below the 2024 national average. Altamont, OR is part of Klamath 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 Klamath is 0.64% which is below the national average, which is 0.99%.
Median Home Price in Altamont, OR
Median Rent in Altamont, OR
Top 5 Reasons to Live in Altamont, OR
Established, landscaped neighborhoods! The home owner occupancy rate in Altamont hovers at around 62 percent. Most of the homes are small two, three or four bedroom single family homes. The town also has a good number of mobile homes. A large percentage of the older homes boast quaint yards that feature mature landscaping. Residents often shop at Mountain Valley Gardens Nursery Center or Plantscapes of Oregon for native flora.
Ample parks to get close to nature! In and around Altamont are 30 parks with more than 700 acres of parkland. Conger Park has two softball fields and a soccer field where neighborhood locals and teams gather. Fairview Park has a large playground with picnic tables that offer an unparalleled view of the surrounding hills.
Fresh produce and wine tasting stands! Every Saturday from June until the last part of October, local farmers gather at 9th Street between Main and Klamath Avenue to sell their produce. There are also craft booths and fresh baked goods for sale. The area is within walking distance from most of the houses in Altamont. On Main Street, you'll find the Oregon Gift Store and Oregon Wine Cellar which offers tastings of regional wines.
Museums and theaters for all ages! The Ross Ragtag Theater and Cultural Center hosts a variety of classical music, jazz, theater and community events year round. The Children's Museum is fun for young and old alike. It features numerous exhibits, classes and craft functions.
Stable housing market spurs home buying! The average cost of a home in Altamont hovers at around $153,800 and the appreciation of the homes in the region have been rising steadily for the last decade. The stable housing market has bolstered traditional home sales and rent to own programs. Rent to own houses afford a renter the chance to lock in the home's price for future purchase. Locals who are seeking a home loan often to turn to local branches of the Umpqua Bank or Eagle Home Mortgage for all their home buying needs.