Rent to own Homes in Kentwood, MI
Appreciation in real estate value: The past year has seen an appreciation in the average rent to own home value in the city of approximately 3%, with the average cost of buying a house amounting to $106000. Besides enjoying real estate appreciation, Kentwood residents can also relax on weekends in the many parks that the city offers, including Millennium Park and Provin Trails Park.
Kentwood, MI is a great place for affordable rent-to-own homes! With a median household income of over $55,046 and a median rent of $967, the Kentwood, 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 Kentwood, 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.
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Kentwood rent to own homesBuying a Home in Kentwood, MI
Kentwood, MI is seeing rapid growth and Kentwood, MI's' housing market remains optimal with an average home price that is -22% below the 2024 national average. Kentwood, MI is part of Kent 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 Kent is 1.56% which is above the national average, which is 0.99%.
Median Home Price in Kentwood, MI
Median Rent in Kentwood, MI
Top 10 reasons to set up home in Kentwood, MI
Low cost of living: Residents who rent to own in Kentwood enjoy the benefits of a comparatively lower cost of living as compared to other American states, standing at 12.5% lower than the US average. The savings made thereby can be put towards a superior lifestyle, spending your leisure days at Grand Rapids Symphony and Broadway Grand Rapids.
Favorable employment opportunities: Versus the US average of 8.6%, the unemployment in the city is comparatively lower, standing at 6.2%. Kentwood has been ranked as the #19 best city in the USA for teleworking opportunities. The working crowd has ample opportunity to rejuvenate themselves on their off hours, at nature parks that dot the town, including Frederik Meijer Gardens and Blandford Nature Center.
High security levels and minimal commute time: Kentwood also holds ranking as the second most secure big city in America. Further, the healthy median commute time of 22 minutes, versus the US average of 28 minutes, make Kentwood a nice option to rent to own a house. Use the extra leisure time garnered from the short commute to explore the greens at the Thousand Oaks Golf Club or at the Golf Club at Thornapple Pointe.
Visit a premier convention center: DeVos Place, is massive, with a 2400 plus seat theatre, and sits snugly beside the Grand River; a mere 15 minute drive from Gerald Ford International Airport.
Marvel at iconic sculptures: The city's two most famous sculptures, namely Leonardo da Vinci's horse and La Grande Vitesse, are to be reckoned with.
Immerse yourself in the arts: Discover your artistic side at the Grand Rapids Ballet Company and the Opera Grand Rapids.
Spend a day at the museums: Visit the Gerald R Ford Museum and the Grand Rapids Public Museum for an intense historical learning experience. The former museum is dedicated to the ex-American president and hosts various exhibits on his life. The latter museum depicts the culture and historical traditions of the town.
Kentwood has no dearth of interesting museums to explore: Enjoy another day out at the Grand Rapids Childrens' Museum and Grand Rapids Art Museum.
Spend a weekend at a Victorian museum or at the zoo: Visit the Voigt House Victorian Museum which plays tribute to the historical wealthy family. Alternatively, make a day trip to the John Ball Zoo.