Rent to own Homes in Midvale, UT
Midvale is a city located in Salt Lake County, Utah. It has a population of just under 28,000. Pioneer families began settling Midvale in 1850 and the town began booming during the 1870s as it became the center of the local mining industry over at nearby Bingham Canyon. Some scenes from the movie Sandlot were filmed in the downtown of the city, including an old drugstore interior.
Midvale, UT is a great place for affordable rent-to-own homes! With a median household income of over $62,354 and a median rent of $1,160, the Midvale, UT 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 Midvale, UT. 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 Midvale, UT Property Resources
Rent to own Homes in Cities Near Midvale, UT
- Alpine
- Alta
- American Fork
- Bingham Canyon
- Bluffdale
- Bountiful
- Brighton
- Cedar Hills
- Cedar Valley
- Centerville
- Copperton
- Cottonwood Heights
- Draper
- Eagle Mountain
- Emigration Canyon
- Farmington
- Fruit Heights
- Granite
- Herriman
- Highland
- Holladay
- Kaysville
- Kearns
- Layton
- Lehi
- Lindon
- Magna
- Midvale
- Millcreek
- Murray
- North Salt Lake
- Park City
- Pleasant Grove
- Riverton
- Salt Lake City
- Sandy
- Saratoga Springs
- Silver Summit
- Snyderville
- South Jordan
- South Salt Lake
- Summit Park
- Taylorsville
- West Bountiful
- West Jordan
- West Valley City
- White City
- Woods Cross
Neighborhoods in Midvale, UT
Old Town Midvale rent to own homes Central Midvale rent to own homes South Union Fort rent to own homes Copperview rent to own homes Northeast Midvale rent to own homes Union Park rent to own homes North Union Fort rent to own homes East Midvale rent to own homes Midvalley rent to own homes Midvale rent to own homesPopular Zip Codes in Midvale, UT
84047 rent to own homesBuying a Home in Midvale, UT
Midvale, UT is seeing rapid growth and Midvale, UT's' housing market remains not optimal with an average home price that is 31% above the 2024 national average. Midvale, UT is part of Salt Lake 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 Salt Lake is 0.67% which is below the national average, which is 0.99%.
Median Home Price in Midvale, UT
Median Rent in Midvale, UT
Top 5 Reasons to Live in Midvale, Utah
Cheaper housing is available! Median house prices in Midvale are around 6.5 percent lower than the Utah average, meaning that a move here is an affordable option for most. Additionally, rent to own houses are an increasingly popular as an affordable option in the city. Median rents are reasonable and just fractionally higher than the national average at around $900 a month. Popular suburbs include the area just north of Fort Union Boulevard and the area around Hillcrest High School.
Cosmopolitan dining for every taste! Midvale is known for having some of the best Thai eateries in the Salt Lake City area. Local favorites include Mekong Seafood Cafe on South State Street and Thai Spice on East Ford Union Boulevard. Joe Morley's Smoked Beef is famous for their beef brisket, ribs, and barbecued beans, while sushi lovers can satisfy their cravings at Tsunami Restaurant.
Local entertainment to keep busy! Movie addicts will be pleased that they can catch all the latest Hollywood releases at the Century 16 Cinema is located at Union Heights. Those who prefer live local entertainment can head down to the Midvale Theater on South Main Street. It is host to a wide variety of theatrical performances and musicals throughout the year that will appeal to both adults and children alike.
Steadily increasing property values! The Salt Lake City metropolitan area is one of the fastest growing in the nation with a growth rate of 1.5 percent annually. It shouldn't come as a surprise, therefore, that house prices in Midvale have increased by around 40 percent over the past 12 years. Prospective buyers can feel safe in knowing that demand for housing will remain steady as the growth in population is projected to remain steady in the coming years. The areas of Midvale around Union and Hillcrest Drive are especially popular due to the wide range of amenities available.