Rent to own Homes in Spanaway, WA
Spanaway's main thoroughfare is Pacific Avenue, and many people equate "Pacific" with "Ocean." While residents do have access to open water and all the recreational opportunities it brings, it's not saltwater; the city owes its very existence to Spanaway Lake. Spanaway founder Henry de la Bushalier chose present-day Spanaway to settle because he wanted to be near water. Residents enjoy the best of both worlds; the lake and proximity to Mount Rainier National Park.
Spanaway, WA is a great place for affordable rent-to-own homes! With a median household income of over $76,447 and a median rent of $1,378, the Spanaway, 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 Spanaway, 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 Spanaway, WA Property Resources
Rent to own Homes in Cities Near Spanaway, 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 Spanaway, WA
No neighborhoods foundPopular Zip Codes in Spanaway, WA
98387 rent to own homesBuying a Home in Spanaway, WA
Spanaway, WA is seeing rapid growth and Spanaway, WA's' housing market remains not optimal with an average home price that is 26% above the 2024 national average. Spanaway, 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 Spanaway, WA
Median Rent in Spanaway, WA
Top 4 Reasons to Live in Spanaway, Washington
Excellent golf! If golf's your game, Classic Golf Club is affordable and challenging. Expect narrow fairways and hilly greens. If you're serious about golf or super competitive, head down the road to Tontarad Golf Academy and Driving Range. Practice your swings or take a private or group golf lesson. When you live in Spanaway, you're within easy reach to scratch your golfing itch.
Huge parks with lots of amenities! One of the hidden jewels of Spanaway is the 135-acre Spanaway Park, an outdoor recreation area that is adjacent to Spanaway Lake. Residents enjoy strolls around the lake, canoeing, fishing and swimming. Many spend days enjoying the covered shelters, large grills, running water and electricity. If you want to brown bag it, head to Pacific Market Deli for fresh sandwich options. The park hosts the biggest drive-through holiday display in the Northwest. The Fantasy Lights event is held Thanksgiving through New Year's Day annually
Excellent housing market! The housing market in Spanaway is in good condition, with home values ranking above state average. The average home here costs about $182,000. Nearly 30% of the homes here are rented. As a buyer, you're in luck; the average sales price has dropped nearly $20,000 in the last several years. On average, buyers are paying much less than the listing price, which is great news if you are looking for a rent to own home. Check out neighborhoods like Wyndham Ranch, Mountain Terrace Estates and Brink Ranch if you want to rent.
Tons of homeowners! About 60% of this community owns a house, which means that you are likely to have long-term neighbors and professionals who will get to know you over the course of several years. Stability in the community also creates more pride in the community, which you'll notice at any of the local events. Home prices appear to be slowly increasing, with a roughly .5% increase over the last quarter, but still remain lower than last year's sales prices. It can be tough to find a house for sale in established communities like Southwind and Country Glen. If you do run across a listing you wish to pursue, act sooner rather than later!