Rent to own Homes in Hermiston, OR
In 2011, it was reported that Hermiston surpassed Pendleton as the biggest city in eastern Oregon, adequately reflecting the city's motto: "The Future of Eastern Oregon." The population in the area has been growing consistently since the end of the Depression. With a population growth of over 30 percent in the 1990s and of 27 percent during the first decade of the new millennium, there's no doubt that Hermiston really is the future of eastern Oregon.
Hermiston, OR is a great place for affordable rent-to-own homes! With a median household income of over $58,341 and a median rent of $793, the Hermiston, 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 Hermiston, 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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Hermiston, OR is seeing rapid growth and Hermiston, OR's' housing market remains optimal with an average home price that is -24% below the 2024 national average. Hermiston, OR is part of Umatilla 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 Umatilla is 1.1% which is above the national average, which is 0.99%.
Median Home Price in Hermiston, OR
Median Rent in Hermiston, OR
Top 3 Reasons to Live in Hermiston, OR
Increasing home values in area! Hermiston's home values have jumped almost 24 percent over the last decade. This means people looking at rent to own houses near Theater Sports Park or further south around Maxwell Canal will all be making great investments on houses that are increasing in value.
Easy to have a fun night out! In a place confident enough to call itself the 'future' of Oregon, it is fairly simple to have a fun night out in the city. If you want a relaxing night of cinema and dining, you can catch a flick at the Hermiston Cinema before having a bite over at Hale's Restaurant. If you are looking for a little more excitement, you could always head over to Neighbor Dudes Tap House or Nookies Restaurant and Sports Bar. Whatever you feel like doing on any given night, Hermiston's many entertainment options will help you have a blast.
Low cost homes and average tax rate! Those looking to save money cannot afford to overlook Hermiston. The average house price in the area is 13 percent lower than the national average. One may assume that the economy would make up for this with excessive property taxes, but this simply isn't the case. In fact, the city's property tax rate is within six percent of the national average, providing the opportunity to save big on real estate. It could be easy to lose all these savings at the Wildhorse Resort and Casino, so spend a little time at the Hermiston Family Aquatic Center instead.
Community sports abound! Hermiston offers many opportunities to get to know your new neighbors through various community sport leagues and activities. Join the Hermiston adult basketball league or coed volleyball league held the Gold Gym. Or make a trip to the Hermiston Family Aquatic Center for the end of school Family Pool Party and BBQ. There are also fitness classes available at Higher Power Fitness, like the popular Adult Bootcamp.