Rent to own Homes in Central Falls, RI
Despite encompassing only 1.29 square miles, Central Falls is the most densely populated city in the smallest state, with the total number of residents at more than 20,000. Luckily, the lack of available land does not sacrifice from the overall experience of living in the town. Because many stores are on the main drag, Central Falls has a high walk score of 85, making it a very convenient city for those who like to explore on foot.
Central Falls, RI is a great place for affordable rent-to-own homes! With a median household income of over $34,689 and a median rent of $884, the Central Falls, RI 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 Central Falls, RI. 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 Central Falls, RI Property Resources
Rent to own Homes in Cities Near Central Falls, RI
- Assonet
- Attleboro
- Attleboro Falls
- Barrington
- Bellingham
- Bristol
- Central Falls
- Chepachet
- Clayville
- Cranston
- Cumberland
- Cumberland Hill
- Dighton
- East Douglas
- East Providence
- Fall River
- Foster Center
- Foxboro
- Foxborough
- Franklin
- Greene
- Greenville
- Harrisville
- Hopedale
- Hopkinton
- Mansfield Center
- Medfield
- Middletown
- Milford
- Millis
- Millis-Clicquot
- Millville
- Norfolk
- North Attleborough Town
- North Westport
- Norton
- Norton Center
- Oakland
- Raynham Center
- Seekonk
- Sharon
- Somerset
- South Walpole
- Stoughton
- Swansea
- Taunton
- Walpole
- Whitinsville
- Woonsocket
- Wrentham
Neighborhoods in Central Falls, RI
Central Falls Mill rent to own homes South Central Falls rent to own homes Central Falls rent to own homesPopular Zip Codes in Central Falls, RI
02863 rent to own homesBuying a Home in Central Falls, RI
Central Falls, RI is seeing rapid growth and Central Falls, RI's' housing market remains optimal with an average home price that is -19% below the 2024 national average. Central Falls, RI is part of Providence 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 Providence is 1.31% which is above the national average, which is 0.99%.
Median Home Price in Central Falls, RI
Median Rent in Central Falls, RI
Top 6 Reasons to Live in Central Falls, RI
Never-ending historical landmarks! Central Falls is home to 12 buildings, homes and churches that are on the National Registry of Historic Places. Although some of the buildings are now privately owned, others like the Central Falls Congregational Church and the Samuel B. Conant House are open to the public for tours.
An abundance of museums! Satisfy your sweet tooth with a visit to the Chocolate Mill Overlook. Telling the story of how chocolate is manufactured in America, the museum is open for tours and samples throughout the year. At the Slater Mill Museum, visitors can celebrate and view Central Falls' contributions to the Industrial Revolution in a magnificently maintained 1793 textile mill.
Home of the best bakeries in Rhode Island! Skip dinner and head straight for the good stuff with a visit to any of the three bakeries in Central Falls. Start at La Sorpresa Bakery for homemade baked flan before continuing on to El Antojo Bakery for a delicious and refreshing Coconut-Pineapple Mexican Ice Pop. End the tour with a stop at the Three Glass Bakery to try any of their decadent cakes and cupcakes.
Experience the natural beauty! Located on the Blackstone River, the Blackstone Valley Explorers provide a guided tour to take you and your guests on a boat ride through the backwoods of Central Falls. You can also head to Jenks Park to explore more than 100 acres of conservation land that includes plenty of hiking trails and places to cross-country ski.
Take advantage of a buyer's market! Because there are more than 200 properties for sale in Central Falls, buyers are able to pick and choose their favorite home to make an offer. As a result, homeowners lower their list price as shown by the 30.4% of homes on the market that have had a price cut. Look for rent to own homes in a community like the City Center or along Broad St.
Less expensive than nearby towns! The median price of a single-family home in Central Falls is $153,100, whereas in neighboring North Attleborough the median price is $388,428 and $266,200 in Seekonk. The neighborhoods along Lonsdale Ave and Cross St offer the best value.