Terrell is a small town located in Kaufman County, Texas. This town is just outside of Dallas, making it an ideal base for those who need to commute to the Metroplex for work but want a rural environment in which to live. A person who moves here can have the convenience of a metro area with the slower life of a small town. With a population of 15,816 as of the 2010 census, Terrell was developed as a railroad town in 1873.
Terrell, TX is a great place for affordable rent-to-own homes! With a median household income of over $53,136 and a median rent of $1,038, the Terrell, 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 Terrell, 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.
Terrell, TX is seeing rapid growth and Terrell, TX's' housing market remains optimal with an average home price that is -38% below the 2023 national average. Terrell, TX is part of Kaufman 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 2023 for county Kaufman is 2% which is above the national average, which is 0.99%.