Rent to own Homes in Suffolk, VA
Encompassing 429.1 square miles of gorgeous Virginia countryside, Suffolk is the largest independent city in the entire nation. With a population of 86,463 people, Suffolk is divided into seven distinct boroughs: Chuckatuck, Cypress, Holy Neck, Nansemond, Sleepy Hole, Suffolk and Whaleyville. Founded by English colonists in 1742, Suffolk has been host to many different types of businesses and industries over its long and historic past. From Planter's Peanuts to Lockheed Martin, Suffolk has the educated workforce needed to support such industries and help them to succeed.
Suffolk, VA is a great place for affordable rent-to-own homes! With a median household income of over $79,899 and a median rent of $1,231, the Suffolk, 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 Suffolk, 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 Suffolk, VA Property Resources
Rent to own Homes in Cities Near Suffolk, VA
Neighborhoods in Suffolk, VA
Nansemond rent to own homes Lloyd Place rent to own homes North Jericho rent to own homes Fairgrounds rent to own homes Driver Village rent to own homes Downtown Suffolk rent to own homes Hollywood rent to own homes Lake Kennedy Park rent to own homes Riverview rent to own homes Holy Neck rent to own homesMedian Home Price in Suffolk, VA
Median Rent in Suffolk, VA
Top Reasons to Live in Suffolk VA
Housing Statistics In the city of Suffolk, 93% of homes are occupied by either people who own or rent. The vacancy rate for renters is a low 6% and the vacancy rate for owners is almost non-existent at 1.1%. The average sale price of a home is $252,200, while the average rental price is $855 per month. It's not hard to see why many people choose to rent here!
Arts and Culture Suffolk Center for the Cultural Arts is located in downtown Suffolk on W. Finney Ave. The Suffolk Center is home to performing and visual arts, local and traveling art exhibits, and musicians and dancers. Culture and art are not strangers to the citizens of Suffolk Virginia!
Nightlife Nightlife is also important to the locals here in Suffolk. Many enjoy dinner and drinks from the Vintage Tavern over on Govenors Point Dr, which is pricey but has a fabulous Sunday brunch. Another favorite is Harper's Table on N Main St, which us quickly becoming famous for its hospitality, food and wine! If you are after more of a bar type atmosphere, Baron's Pub on N Main St is a cozy and inviting place to meet up with friends to enjoy a pint or two. Another local favorite is Kelly's Tavern on W Constance Rd. Both are local favorites for hanging out after work or just grabbing a cold one with a friend.
Neighborhoods Here are some Suffolk neighborhoods you should know about: