Rent to own Homes in Birmingham, MI
Birmingham, Michigan is an outlying suburb of Detroit about half the distance from Detroit to Pontiac. Life in Birmingham is perfect for those who possibly work in either Detroit or Pontiac, while there is also a wealth of employment opportunities in the Birmingham area as well. In addition to this, the following are some more reasons to contemplate Birmingham as your next residence.
Birmingham, MI is a great place for affordable rent-to-own homes! With a median household income of over $126,601 and a median rent of $1,668, the Birmingham, MI 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 Birmingham, MI. 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 Birmingham, MI Property Resources
Rent to own Homes in Cities Near Birmingham, MI
- Allen Park
- Auburn Hills
- Beverly Hills
- Birmingham
- Canton
- Center Line
- Clawson
- Clinton Township
- Dearborn
- Dearborn Heights
- Eastpointe
- Ecorse
- Farmington Hills
- Ferndale
- Grosse Ile
- Grosse Pointe Park
- Grosse Pointe Woods
- Huntington Woods
- Keego Harbor
- Lake Angelus
- Lathrup Village
- Livonia
- Macomb
- Melvindale
- Northville
- Novi
- Oakland
- Orchard Lake Village
- Oxford
- Pleasant Ridge
- Plymouth
- Pontiac
- Redford
- River Rouge
- Riverview
- Rochester
- Rochester Hills
- Romeo
- Roseville
- Royal Oak
- Southfield
- St. Clair Shores
- Sylvan Lake
- Taylor
- Warren
- Waterford
- Westland
- White Lake
- Wolverine Lake
- Woodhaven
Neighborhoods in Birmingham, MI
Downtown Birmingham rent to own homesBuying a Home in Birmingham, MI
Birmingham, MI is seeing rapid growth and Birmingham, MI's' housing market remains not optimal with an average home price that is 148% above the 2024 national average. Birmingham, MI is part of Oakland 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 Oakland is 1.75% which is above the national average, which is 0.99%.
Median Home Price in Birmingham, MI
Median Rent in Birmingham, MI
Top 4 Reasons to Live in Birmingham, Michigan
Wonderful parks and recreation sites! There are 26 parks in the city of Birmingham and surrounding area that provide over 230 acres of land for you to explore. Adams Park and Howarth Park are just two examples of larger neighborhood parks that residents can enjoy year round. After a long day at the office, getting back to nature is a great way to unwind and relax, and what better way to do it than to go walking through the many trails these acres of parks have to offer?
One-of-a-kind shopping and dining opportunities! The Original Pancake House on Woodward Avenue has served the area for several generations and continues to be one of the local favorites for breakfast, lunch, or dinner. Sanders Candy and Dessert Shop is the place to be when you want a slice of heaven or a chocolate shake. They offer many homemade family recipe candies and other dessert items. The majority of shopping can be found in the Birmingham Shopping District on Martin Street, but you can also check out the many family-owned shops throughout the district as well.
Home values have continued to grow in the region! There are many rent to own homes available in the Birmingham community, especially near Arlington Street or West Maple Road, or you can choose to purchase outright. Home values begin in the high $70,000s and go well up into the low millions for homes with more square footage, bedrooms, and bathrooms. These same homes were in the low $60,000s just fifteen years ago. Buying a home in the Birmingham area now could lead to untold equity for you in the future.
Vintage homes in the old town sections! In the older parts of town, such as Lake Street and Old Woodward Avenue, there are beautiful, classic homes for sale such as Tudors, Georgians, and other stately homes for hosting your annual holiday get-togethers. Even if you decide not to purchase a house in this area, it still makes for a great weekend drive to see these classic homes.