Rent to own Homes in Mercer Island, WA
Sitting in the south part of Lake Washington, Mercer Island is part of King County. The city occupies a land area of 13.11 square miles and according to the most recent census has a population of 22,699. Mercer Island was named after its founders who settled in the area in the mid-1870s. The East Channel bridge was originally built in 1928 to connect it to the rest of Washington, and over time two more bridges were added for access.
Mercer Island, WA is a great place for affordable rent-to-own homes! With a median household income of over $150,506 and a median rent of $2,166, the Mercer Island, 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 Mercer Island, 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 Mercer Island, WA Property Resources
Rent to own Homes in Cities Near Mercer Island, WA
- Alderwood Manor
- Algona
- Bainbridge Island
- Beaux Arts Village
- Bellevue
- Black Diamond
- Bothell West
- Boulevard Park
- Brier
- Burien
- Cathcart
- Cavalero
- Clearview
- Clyde Hill
- Cottage Lake
- Covington
- Des Moines
- East Hill-Meridian
- Eastmont
- Edmonds
- Esperance
- Fall City
- Federal Way
- Fobes Hill
- High Bridge
- Indianola
- Issaquah
- Kent
- Kingsgate
- Kingston
- Lake Forest Park
- Lake Holm
- Lakeland North
- Lakeland South
- Lake Morton-Berrydale
- Lake Stevens
- Larch Way
- Lynnwood
- Meadowdale
- Mountlake Terrace
- Mukilteo
- Normandy Park
- North Lynnwood
- Picnic Point
- Riverton
- SeaTac
- Seattle
- Shoreline
- Silver Firs
- Tukwila
Neighborhoods in Mercer Island, WA
East Seattle rent to own homes McGilvara rent to own homes Beaumont rent to own homes Downtown Mercer Island rent to own homes Mercerwood rent to own homes Parkwest rent to own homes Lake View Highlands rent to own homes Mercerdale rent to own homes West Mercer rent to own homes Shorewood rent to own homesPopular Zip Codes in Mercer Island, WA
98040 rent to own homesBuying a Home in Mercer Island, WA
Mercer Island, WA is seeing rapid growth and Mercer Island, WA's' housing market remains not optimal with an average home price that is 537% above the 2024 national average. Mercer Island, WA is part of King 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 King is 0.88% which is below the national average, which is 0.99%.
Median Home Price in Mercer Island, WA
Median Rent in Mercer Island, WA
6 Reasons to Live in Mercer Island, WA
Some beautiful homes are available! Mercer Island is known for having some of the most beautiful homes for sale in the entire state of Washington. Though you will sometimes notice a higher price in the area, you can still find many affordable homes around the E Shorewood Dr/88 Ave SE neighborhood. Additionally, Roanoke offers some great value homes with plenty of land and beautiful construction.
There are stunning apartments to find! If you are not quite ready to own, there are also rent to own options on the market. Should you prefer renting outright, there are plenty of apartments available on the market as well. Shorewood Heights is one popular apartment complex in the area and offers a pet friendly environment. For those seeking a more luxury feel, The Mercer is another great apartment complex to check out.
Go for a nice hike! Washington has some absolutely beautiful landscapes and no shortage of outdoor activities. On Mercer Island, that beauty is all focused in some of the best parks in the state. Having a house in Mercer Island gives you easy access to these views. Pioneer Park is a great place to picnic and then go exploring along some of the trails. If you simply want to get out and go for a hike, Ellis Pond also has great trails available.
Enjoy unique entertainment options! Mercer Island also is home to some more specialized and unique entertainment options not far from one's home. If you are into horseback riding or wish to learn, the Mercer Island Saddle Club is a great place to start. If you have an interest in the arts, Mercer Island Visual Arts League Gallery displays all forms of art from paintings to sculptures.
Taste the local cuisine! The city is also known for having some great neighborhood restaurants. Bennett's is an excellent choice if you are looking for some American style food. When you want a special treat, Tuscan Stone Wood Fired Pizza is always a good option.
Live the active lifestyle! There is no shortage of opportunity for residents to remain active in the city. Mercer Island CrossFit gives the community an organized way to stay in shape. If you want to work on your flexibility and balance, Yogabliss may be the place to go.