Rent to own Homes in Dumas, TX
Nestled in Moore County, Texas, Dumas is a city with a population of 14,691. Dumas is the county seat and is 50 miles north of Amarillo. The city was founded by Louis Dumas, and the main thoroughfare through the city is named for him. This is where you'll find the central business district, although oil, farming and ranching are the dominant economic forces in Dumas.
Dumas, TX is a great place for affordable rent-to-own homes! With a median household income of over $55,625 and a median rent of $909, the Dumas, TX 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 Dumas, TX. 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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Dumas, TX is seeing rapid growth and Dumas, TX's' housing market remains optimal with an average home price that is -41% below the 2024 national average. Dumas, TX is part of Moore 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 Moore is 1.37% which is above the national average, which is 0.99%.
Median Home Price in Dumas, TX
Median Rent in Dumas, TX
Top 5 Reasons to Live in Dumas, TX
Low housing prices! In the 2012 Census, the average housing price for all units was $92,794 and for detached houses, it was $97,155. For townhouses, it was $104,357 and for two-unit structures, the average price was $52,066. The average value of existing housing units was $91,954, in line with new construction costs. PNB Development LLC is a great place to ask about new construction in the area.
Low property taxes! In 2012, the median real estate property taxes for homes with a mortgage were $1,635 and for those housing units without a mortgage, it was $790. Golfers may enjoy the residential developments near Pheasant Trails Golf Course on Schuman Road. Those who enjoy sports may like the areas near Dumas Aquatic Park or Dumas Football Stadium. While it is possible to still find a rent to own cottage in many areas of the city, the majority of mortgages are traditional, VA or FHA.
Great cuisine! Check out 287 Roadhouse Restaurant and Sports Bar, Alley Cafe and K-Bob's Steak House, all local favorites. You may also enjoy Braum's Restaurant or Kountry Donuts and Burritos.
Lots of fun things to do! Visit Window on the Plains Museum on South Dumas Avenue. Enjoy any of the great city parks, including Texhoma Park, McDade Park, Pioneer Park, Phillips Park, Morton Park and Shamrock Park.
Strategic business location! Dumas has a local airport, and is ideally situated within eight hours of the Texas-Mexico border and 12 major cities. Dumas Business Park attracts new businesses to the area while providing residents with job and shopping opportunities. The vibrant central business district has every type of business, retail, dining and professional services represented. Swift and Company is one local business that employs 2600 people in its beef-slaughtering operation, while Valero employs nearly 500 in its refinery business.