Rent to own Homes in Oconomowoc, WI
Oconomowoc, incorporated in 1844, grew in popularity during the 1870s as a resort destination for wealthy Milwaukee families. Today it's home to just over 15,000 people but still has a surprising amount of entertainment and activities to offer residents and visitors alike. From the pristine lakes surrounding Oconomowoc to the quaint local shops dotting Main Street, you'll find the perfect mix of excitement and relaxation in this little Wisconsin town.
Oconomowoc, WI is a great place for affordable rent-to-own homes! With a median household income of over $96,588 and a median rent of $1,015, the Oconomowoc, WI 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 Oconomowoc, WI. 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 Oconomowoc, WI Property Resources
Rent to own Homes in Cities Near Oconomowoc, WI
- Ashippun
- Big Bend
- Brookfield
- Brown Deer
- Browns Lake
- Burlington
- Butler
- Chenequa
- Delafield
- Dousman
- Eagle
- Eagle Lake
- East Troy
- Elm Grove
- Franklin
- Franksville
- Germantown
- Glendale
- Hales Corners
- Hartford
- Jackson
- Kansasville
- Lac La Belle
- Menomonee Falls
- Mequon
- Mukwonago
- Muskego
- Nashotah
- New Berlin
- North Lake
- Oconomowoc
- Okauchee
- Pewaukee
- Potter Lake
- Raymond
- River Hills
- Rochester
- Rubicon
- Slinger
- Sullivan
- Sussex
- Tichigan
- Wales
- Waterford
- Waukesha
- Waukesha Village
- Wauwatosa
- West Milwaukee
- Wind Lake
- Yorksville
Neighborhoods in Oconomowoc, WI
Parkland Green West rent to own homes Wren Crest rent to own homes Summit rent to own homes Worthingtons rent to own homesPopular Zip Codes in Oconomowoc, WI
53066 rent to own homesBuying a Home in Oconomowoc, WI
Oconomowoc, WI is seeing rapid growth and Oconomowoc, WI's' housing market remains not optimal with an average home price that is 25% above the 2024 national average. Oconomowoc, WI is part of Waukesha 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 Waukesha is 1.51% which is above the national average, which is 0.99%.
Median Home Price in Oconomowoc, WI
Median Rent in Oconomowoc, WI
Top 5 Reasons to Move to Oconomowoc, WI
High value! Whether you plan to purchase or rent to own, you'll find endless executive or luxury options among the available houses in Oconomowoc. The median value of homes here is $235,500. That's higher than the state or national average. That value is reflected in community events, from the Oconomowoc Festival of Arts to the annual Christmas, Halloween, Veteran's Day, Homecoming, Memorial Day and Independence Day Parades.
Affordable rentals! Over 80 percent of renters pay less than $1000 a month, making life in Oconomowoc a bargain considering all the area provides. With amenities rivaling the best neighborhoods of Milwaukee, you can enjoy lower crime rates and a friendly, small town feel. They're also in high demand. Fewer than 3 percent of the property in town is available for rent. Life here focuses on quality vs. quantity, but that doesn't mean there aren't bargains to be had. Along with the Fresh & Green Market, Kowabunga Comics and other specialty stores, residents can hunt for deals at Dollar General or Goodwill.
Diverse dining! Franchise favorites like Domino's Pizza and Dunkin' Donuts can be found alongside local eateries in Oconomowoc. Pubs and clubs are also popular among residents, and there is no end to specialty dining options like the Gold Mast floating restaurant located on scenic Okauchee Lake.
Rich arts culture! Oconomowoc has all the cultural trappings and more that you'd expect to find in the heart of Wisconsin lake country. Together, the Oconomowoc Art Center and the Theatre on Main provide ample opportunities for residents to develop their creative talents. The Gymlingo Academy introduces dance instruction and appreciation to the community while Imagination Station encourages visitors to stretch their understanding the world in order to solve everyday problems.
Opportunities to get active! Oconomowoc has the distinction of offering both indoor and outdoor activities to residents. From planned programs for tennis, yoga and more through Parks & Rec, to businesses like Stilt Academy aimed at the physically adventurous, people of every activity level will find the perfect way to improve their physical fitness. It's also fun! The Lac Le Belle Ice Rink located near the new Community Center is open throughout the week during the winter, while summers bring swimming and sunning to Bender Beach, along with boat rentals.