Rent to own Homes in Hamtramck, MI
Situated in the heart of Wayne County, Hamtramck is a city that has a population in excess of 22,000 inhabitants. A suburb of Detroit, Hamtramck is approximately cut in two by Joseph Campau Avenue which runs roughly north-south through the city. A railroad, which connects Detroit to Port Huron and then Canada to the north, runs through the southern side of Hamtramck and most of the residential streets in the city lie on the northern side of this man made feature. The city covers a little over two square miles of land.
Hamtramck, MI is a great place for affordable rent-to-own homes! With a median household income of over $29,230 and a median rent of $743, the Hamtramck, 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 Hamtramck, 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 Hamtramck, MI Property Resources
Rent to own Homes in Cities Near Hamtramck, MI
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Neighborhoods in Hamtramck, MI
Downtown Hamtramck rent to own homes Upper East Central rent to own homesPopular Zip Codes in Hamtramck, MI
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Hamtramck, MI is seeing rapid growth and Hamtramck, MI's' housing market remains optimal with an average home price that is -67% below the 2024 national average. Hamtramck, MI is part of Wayne 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 Wayne is 2.07% which is above the national average, which is 0.99%.
Median Home Price in Hamtramck, MI
Median Rent in Hamtramck, MI
Top 4 Reasons to Live in Hamtramck, Michigan
The affordability of housing! Hamtramck has some great value for money when it comes to its residential housing stock. Rent to own houses and owner-occupied housing is - on average - less than you would pay in the rest of Michigan State. From Denton Street, in the south, to Neibel Street, in the north, just under half of the residential buildings in Hamtramck are detached single units. Many of the residential streets in the north of the city are tree-lined and have their own front gardens.
The availability of rented accommodation! There is plenty of choice for renters in Hamtramck, with a slightly higher proportion of homes for rent than those which are owner-occupied. Rented accommodation can be found all over the city, but a good place to start is near to the shopping district around Holbrook Avenue. Alternatively, head just a little further north on Yemens Street or Belmont Street.
The city parks! Hamtramck is home to a number of city parks within its borders. The largest of these green open spaces is Veteran's Park which is located off Joseph Campau Avenue, close to the railroad. Re-launched in 2013, the park is home to some sporting events including community cricket tournaments. Situated between Yemens Street and Evaline Street, Winfield Park is smaller but just as well maintained. It faces the City Hall.
The great places to eat out! Hamtramck offers some superb places to dine, so you don't need to travel to downtown Detroit to find a good restaurant. For example, the Polish Village Cafe and the Polonia Restaurant, both situated on Yemens Street, offer diners some high-quality Polish cuisine. Caniff Grill and Family Restaurant, to be found in the middle of Caniff Avenue, serves regular American dishes. Further north, Rock City Eatery has a constantly changing menu which means that you will never get bored with the food on offer.