Rent to own Homes in Payson, UT
Payton is historical in the fact that it had the first high school in Utah that was south of Salt Lake City. It was built in 1873, but for those who like weird historical facts a bit more, it's always fun to point out that the city produced over 15.4 million pounds of sugar in 1915. How, you may ask? Turns out you can get sugar from sugar beets, and with over 5,014 acres of these beets planted that year, what more could you expect?
Payson, UT is a great place for affordable rent-to-own homes! With a median household income of over $69,014 and a median rent of $1,103, the Payson, 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 Payson, 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.
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Rent to own Homes in Cities Near Payson, UT
- Alpine
- Alta
- American Fork
- Benjamin
- Bluffdale
- Brighton
- Cedar Fort
- Cedar Hills
- Cedar Valley
- Charleston
- Copperton
- Cottonwood Heights
- Draper
- Eagle Mountain
- East Basin
- Emigration Canyon
- Fairfield
- Granite
- Heber
- Heber City
- Herriman
- Highland
- Hobble Creek
- Holladay
- Interlaken
- Kearns
- Lehi
- Lindon
- Midvale
- Millcreek
- Murray
- Orem
- Palmyra
- Park City
- Pleasant Grove
- Provo
- Salt Lake City
- Silver Summit
- Snyderville
- South Salt Lake
- Spanish Fork
- Springville
- Summit Park
- Sundance
- Taylorsville
- Vineyard
- Wallsburg
- West Jordan
- West Mountain
- West Valley City
Neighborhoods in Payson, UT
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No zip codes foundBuying a Home in Payson, UT
Payson, UT is seeing rapid growth and Payson, UT's' housing market remains not optimal with an average home price that is 15% above the 2024 national average. Payson, UT is part of Utah 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 Utah is 0.55% which is below the national average, which is 0.99%.
Median Home Price in Payson, UT
Median Rent in Payson, UT
3 Reasons to Live in Payson, UT
Housing values on the rise! The housing market in America took a hit during the recent recession, but there's no doubt that it's on the recovery. Some places, though, such as Payson, are doing much better. In fact, over the last decade, Payson's home value appreciation rate has been over 14 percent higher than the average in America. Since over 70 percent of the homes in the city are actually owned by those who live in them, it's quite obvious that people simply love living here. Whether this is due to its ideal location near Interstate 15 or the beautiful view of Utah Lake and West Mountain in the distance, the point is that the place is enjoyed by all.
History of all types! History buffs will love it here, and that goes for those who love man-made and natural history. The Peteetneet Museum will give you a view into the history of man, and you can even get a crash course on the city's history by taking the Walking Tour of Historic Payson. More into nature? The Grotto Trail has you covered. A nice hike that almost anyone can handle takes you through beautiful scenic areas and eventually empties you out at an awesome waterfall. Hop in that natural pool while you're there.
Amazing property tax rates! With so many people clamoring to live in Payson and the amazing increase in home values, the city would seem like a dream place for those looking to buy or rent to own houses. On top of these perks, though, is a low property tax rate. It's surprising that an area with such great home values would have tax rates nearly half of the national average, but they manage to pull it off. That's probably why citizens can afford to have juicy steak dinners at Dalton's followed by a few games at the South County Lanes. Don't bowl too soon after you eat, though. We're not sure if that's healthy.