Rent to own Homes in Franconia, VA
Franconia, Virginia is located in Fairfax County and has a 2010 population of about 18,000. At one point, Franconia's population was over 30,000; however, the city split in two with half becoming part of Fairfax County and the other half going to Alexandria. Named one of the most livable cities in Virginia, the town is characterized by a stable housing market that features home values on the rise, excellent schools and plenty of local amenities.
Franconia, VA is a great place for affordable rent-to-own homes! With a median household income of over $120,946 and a median rent of $1,998, the Franconia, VA 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 Franconia, VA. 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 Franconia, VA Property Resources
Rent to own Homes in Cities Near Franconia, VA
- Alexandria
- Annandale
- Aquia Harbour
- Arlington
- Bailey's Crossroads
- Boswell's Corner
- Braddock
- Bristow
- Burke
- Burke Centre
- Cedar Heights
- Cheltenham
- Cherry Hill
- Chevy Chase
- Chevy Chase Village
- Difficult Run
- Dumfries
- Dunn Loring
- Fairfax
- Fairfax Station
- Fair Lakes
- Falls Church
- Floris
- Forest Glen
- Fort Hunt
- Great Falls Crossing
- Hutchison
- Innovation
- Kingstowne
- Leesylvania
- Linton Hall
- Loch Lomond
- Mantua
- Maryland Park
- Mount Vernon
- Nanjemoy
- Navy
- Nokesville
- North Bethesda
- North Chevy Chase
- Oakton
- Port Tobacco
- Quantico
- Sudley
- Sugarland Run
- Union Mill
- Vienna
- Washington Navy Yard
- White Plains
- Yorkshire
Neighborhoods in Franconia, VA
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No zip codes foundBuying a Home in Franconia, VA
Franconia, VA is seeing rapid growth and Franconia, VA's' housing market remains not optimal with an average home price that is 95% above the 2024 national average. Franconia, VA is part of Fairfax 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 Fairfax is 0.89% which is below the national average, which is 0.99%.
Median Home Price in Franconia, VA
Median Rent in Franconia, VA
Top 5 Reasons to Live in Franconia
Steadily increasing home values! Buying in a city with rising home values is imperative for any new resident because it provides instant equity. Luckily, Franconia is experiencing rapid growth that has led to the median home value increasing 3.7 percent in the last year to $428,700. With homes expected to increase in value another 1.2 percent in the coming year, there has never been a better time to get a rent to own property in an area of Franconia like George Washington Memorial or Chapel Hill.
Many price cuts! A whopping 56.7 percent of homes in Franconia have had a price cut, and 17.7 percent have sold below their listing price. As a result, buyers are able to make aggressive offers to purchase a home at a price below market value. Pounce on the available deals in a neighborhood like Warwick Circle or Woodland Stream Drive.
Golf, golf and more golf! Franconia is home to three of the top rated courses in Virginia: Hilltop Golf Club, Greendale Golf Course and Fort Belvoir Golf Club. While Hilltop is a private club, Greendale and Fort Belvoir are open to the public. All three include a driving range for perfecting your swing before hitting any of the 18-hole courses.
Delicious restaurants! Cheer on the local sports teams at Lucky's Sports Theater & Grill, which offers numerous flat screen televisions in a pub-like atmosphere. Serving up the best cheeseburgers in the city, Lucky's is the place to go with friends and family for the big game. Craving a delicious sub? Skip a fast food joint and head to Firehouse Subs, where everything from the chicken parmigiana to the meatball marinara is melt-in-your-mouth good.
Numerous parks! Take advantage of the beautiful weather with a visit to one of the many parks in the city. Head to Bren Mar Park to play baseball at one of the four diamonds or the Huntley Meadows Park for a dip in the public pool.