Rent to own Homes in Pharr, TX

Pharr, Texas, has a population of over 72,000 people living in a few distinct neighborhoods. Pharr is located just within the Rio Grande Valley and serves as a major transportation hub for the region. Most workers in Pharr are a mixture of sales and office employees, personal service providers, and professionals. Pharr won awards for being a 2004 Preserve America City, a 2005-2007 National Historic Trust Main Street City, and a 2006 All American City.

Pharr, TX is a great place for affordable rent-to-own homes! With a median household income of over $40,513 and a median rent of $774, the Pharr, 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 Pharr, 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.