Rent to own Homes in Coos Bay, OR
Coos Bay, Oregon, offers the perfect location for people who enjoy the outdoors and scenic views of the Pacific Coast. The area was originally inhabited by several Indian tribes, including the Coos people. The city, once known as Marshfield, was a key player in the shipbuilding, transportation and lumber industries. Coos Bay's 16,000 residents enjoy life in a vibrant, historic city that offers an active cultural scene and access to inland Oregon.
Coos Bay, OR is a great place for affordable rent-to-own homes! With a median household income of over $49,478 and a median rent of $846, the Coos Bay, 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 Coos Bay, 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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Coos Bay, OR is seeing rapid growth and Coos Bay, OR's' housing market remains optimal with an average home price that is -8% below the 2024 national average. Coos Bay, OR is part of Coos 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 Coos is 0.71% which is below the national average, which is 0.99%.
Median Home Price in Coos Bay, OR
Median Rent in Coos Bay, OR
Top 5 Reasons to Live in Coos Bay, OR
Historic buildings and exhibits! Coos Bay is proud of its history as the hub of commerce on Oregon's Pacific Coast. Numerous Coos Bay buildings are listed on the National Register of Historic Places. Take a stroll downtown and visit the Tioga Hotel, Carnegie Library, Egyptian Theatre or Chandler Hotel.
Interesting museums! Art enthusiasts will want to pay a visit to Coos Art Museum. The permanent collection focuses on Pacific Northwest artists who work in a variety of mediums. The museum also contains a gallery dedicated to the career of Steve Prefontaine, an Olympic runner from the area who died in 1975 at the age of 24. The new Coos History Museum and Maritime Collection on Front Street will feature exhibits, a research library, store and artifacts from the early days of Coos Bay.
Plenty of opportunities to enjoy the great outdoors! Spend the day at the beach at the Oregon Dunes National Recreation Area in Coos Bay or visit the 120-acre John Topits Park. Hop in a canoe or kayak and explore Empire Lake, which is part of the park. Jump in the outdoor swimming pool at Mingus Park, located near the city's downtown area, or play a round of disc golf at the park.
Affordable homes! Your money goes farther in Coos Bay than in other parts of Oregon. The median sales price for homes is just $155,000, significantly lower than the $261,500 statewide median. Look for homes for sale or rent to own properties in the Milner Crest or Empire neighborhoods.
A variety of rental properties! Coos Bay's selection of rental properties provides the perfect option for new residents who want to get to know the area a little better before making the decision to buy a home. The median price for rent in Coos Bay is $676, almost half the cost of the Oregon median of $1,200. Check out rentals in the Marshfield District or East Marshfield.