Rent to own Homes in Monterey Park, CA
Play sports through the city: Monterey Park has a recreation program that makes it easy for you to join sports leagues of all kinds. Whether you want to play basketball, volleyball or softball, you can expect to have practices and games at either George Elder Park or Barnes Park.
Monterey Park, CA is a great place for affordable rent-to-own homes! With a median household income of over $63,389 and a median rent of $1,505, the Monterey Park, CA 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 Monterey Park, CA. 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 Monterey Park, CA Property Resources
Rent to own Homes in Cities Near Monterey Park, CA
- Beverly Hills
- Duarte
- East Pasadena
- Encino
- Glendora
- Granada Hills
- Hacienda Heights
- Harbor City
- Hawthorne
- Hermosa Beach
- Huntington Beach
- Huntington Park
- Industry
- Inglewood
- Irwindale
- La Canada Flintridge
- La Crescenta-Montrose
- Ladera Heights
- La Habra Heights
- La Puente
- Lennox
- Long Beach
- Los Angeles
- Lynwood
- Marina del Rey
- Maywood
- North Hollywood
- Norwalk
- Palos Verdes Estates
- Palos Verdes Peninsula
- Panorama City
- Paramount
- Pico Rivera
- Rolling Hills
- Rose Hills
- Rossmoor
- San Pasqual
- Sierra Madre
- South Monrovia Island
- South Whittier
- Tarzana
- Van Nuys
- Vincent
- Walnut
- West Carson
- West Covina
- Westminster
- West Puente Valley
- Whittier
- Wilmington
Neighborhoods in Monterey Park, CA
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Monterey Park, CA is seeing rapid growth and Monterey Park, CA's' housing market remains not optimal with an average home price that is 195% above the 2024 national average. Monterey Park, CA is part of Los Angeles 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 Los Angeles is 0.59% which is below the national average, which is 0.99%.
Median Home Price in Monterey Park, CA
Median Rent in Monterey Park, CA
14 Reasons to Live in Monterey Park, CA
Great places to eat: Try something new for dinner at Mama Lu's Dumpling House, Tokyo Fried Chicken Co. or Seafood Village. You can also grab a unique drink at Tea Brick, which is a tearoom that sells a variety of interesting, freshly made teas.
Opportunities to learn: You can get to know this city's past by visiting the museum that is operated by the Monterey Park Historical Society. If you're more interested in getting familiar with the skies, check out the Garvey Ranch Observatory, which allows you to observe the stars and even attend a class that teaches how to make your own telescope.
Chances to beat the heat: For those warmer days, check out Barnes Park Pool and Elder Park Pool. At the latter, you can watch a movie while swimming when you attend the Summer Dive-In Theater.
Lots of ways to get around: When you need to get around town or even get to Los Angeles and other nearby cities, you can take the Metrolink or Spirit bus. If you prefer to drive yourself, you have easy access to local freeways, such as the Interstate 10, Interstate 710, and State Route 60.
Parks and golfing: If you want to play outside, take a ball or Frisbee to Bella Vista, Cascades or Pine Tree Park. You can also play a round at the Monterey Park Golf Course and Driving Range.
Great location: When you live in Monterey Park, you're only 30 minutes or less from popular destinations like Los Angeles, Long Beach, the Santa Monica Pier and Disneyland. Or have an in-town vacation by staying at the Floral Inn or Garvey Inn.
Entertainment: When you want to catch a movie, check out AMC Atlantic Times Square 14 to see the latest flicks. If you prefer live performances, head to East Los Angeles College Performing Arts Center to see theatrical plays, musicals and concerts by local performers.
Impressive shopping opportunities: If you feel the need to spend some money, you can head to Atlantic Times Square, which has a mixture of stores, restaurants and even condos. You can also go to the Monterey Park Mall, which also has loads of stores.
Impressive median values: If you want to buy a home in Monterey Park, it's good to know that the median value is around $495,000, which is slightly higher than California's average. You can find homes for sale or rent to own near Casuda Canyon Drive and West Ramona Boulevard.
Reasonable property taxes: When you purchase a house, you might be worried about the cost of property taxes. But here you will get a pleasant surprise, because at around $2,000 annually, the taxes in Monterey Park are about $500 less than California's average. Start looking for homes for sale and rent to own houses near South Garfield Avenue and South Grandridge Drive.
Low median rent: When you rent in this city, you can expect slightly lower than average rental prices. More specifically, the median rent here is about $1,100 per month. Look for rental houses and rent to own homes around Mooney Drive and South Orange Avenue.
Tons of renters: You will be far from the only renter in this city, since about 48% of the homes are renter occupied. You can find a wide variety of houses for rent around West Floral Drive and South Garfield Avenue.
Plenty of homes for rent: The vacancy rate here is about 4%, which means it is a pretty popular place to live. But of those vacancies, about 35% are rentals, giving you a good chance to find a home you will love. You can start your search near East Pomona Boulevard and Potrero Grande Drive.