Rent to own Homes in Elk Plain, WA
Located on the east shore of Puget Sound in Pierce County, Elk Plain, in west central Washington, is a suburban community outside Seattle with a total population of over 14,500. If you're considering rent to own homes in this area, you can look forward to an attractive setting, a thriving arts and cultural scene with all of Seattle on the doorstep, and great recreational facilities nearby. And, at 35 minutes, average commute times are relatively short.
Elk Plain, WA is a great place for affordable rent-to-own homes! With a median household income of over $77,116 and a median rent of $1,533, the Elk Plain, WA 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 Elk Plain, WA. 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 Elk Plain, WA Property Resources
Rent to own Homes in Cities Near Elk Plain, WA
- Algona
- Artondale
- Bethel
- Boulevard Park
- Browns Point
- Burien
- Burley
- Canterwood
- Clover Creek
- Dash Point
- Des Moines
- Eatonville
- Edgewood
- Elk Plain
- Federal Way
- Fife
- Fife Heights
- Frederickson
- Gig Harbor
- Home
- Key Center
- Lacey
- La Grande
- Lakeland North
- Lakeland South
- Maplewood
- McKenna
- McMillin
- Milton
- Nisqually Indian Community
- Normandy Park
- North Fort Lewis
- North Yelm
- Prairie Ridge
- Purdy
- Puyallup
- Raft Island
- Rainier
- Riverton
- Rosedale
- Roy
- Ruston
- SeaTac
- Seattle
- South Hill
- Tanglewilde
- Tukwila
- University Place
- Wauna
- Wollochet
Neighborhoods in Elk Plain, WA
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No zip codes foundBuying a Home in Elk Plain, WA
Elk Plain, WA is seeing rapid growth and Elk Plain, WA's' housing market remains not optimal with an average home price that is 27% above the 2024 national average. Elk Plain, WA is part of Pierce 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 Pierce is 1.02% which is above the national average, which is 0.99%.
Median Home Price in Elk Plain, WA
Median Rent in Elk Plain, WA
Top 6 Reasons to Live in Elk Plain, WA
The great outdoors! Elk Plain campground lies within Alder Lake Park and is ideal if you want to try your hand at life under canvas, perhaps doing so locally before taking a big trip. Meanwhile, Spanaway Park is within five miles.
Take a hike! At Enumclaw is the Clearwest Peak Trail, offering wonderful views of Mt. Rainier. Elk Plain also gives wonderful access to a number of other excellent walking and biking trails across its area.
An education! With a good range of educational institutions in its area, nearly 90% of students in the area graduate from high school. Local students attend one of three elementary schools in the neighborhood, including Elk Plain School of Choice Elementary School, and Centennial Elementary, while there's also Bethel Junior High and Bethel High Schools. For every local teacher, there are some 20.5 students.
Real estate rising in value! Over the past 12 months, the value of property in this community has increased by nearly 13 percent, with a median home cost of $221,000. Renting here is cheaper than nearly 50 percent of Washington neighborhoods, while buying in Elk Plain is typically less expensive than in over 70 percent of neighborhoods in the state. Look for properties to rent along 41st Avenue Ct E and 38th Avenue Ct E.
High ownership rates! Around 80 percent of homes in Elk Plain are own occupied, while the remainder are homes for rent. This is a relatively high proportion of owner occupiers compared with the rest of the state. The vacancy rate of around six percent is lower than most of the country. Consider residential areas along Mathias Rd E and 54th Ave E.
A range of eateries! As well as the usual fast food restaurants, you'll find great Mexican food at the Hidalgo, awesome pizzas at Papa Murphy's, and classics at Uncle Sam's and Denny's American diners.