Rent to own Homes in Lake Orion, MI
Lake Orion, MI is a great place for affordable rent-to-own homes! With a median household income of over $95,854 and a median rent of $657, the Lake Orion, 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 Lake Orion, 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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Rent to own Homes in Cities Near Lake Orion, MI
- Allenton
- Almont
- Auburn Hills
- Beverly Hills
- Birmingham
- Clarkston
- Clawson
- Clinton Township
- Commerce Township
- Dryden
- Farmington Hills
- Ferndale
- Goodrich
- Grand Blanc
- Highland
- Holly
- Huntington Woods
- Imlay City
- Keego Harbor
- Lake Angelus
- Lake Orion
- Lapeer
- Lathrup Village
- Leonard
- Macomb
- Madison Heights
- Metamora
- Novi
- Oakland
- Oak Park
- Orchard Lake Village
- Ortonville
- Oxford
- Pleasant Ridge
- Pontiac
- Ray
- Rochester
- Rochester Hills
- Romeo
- Royal Oak
- Southfield
- Sylvan Lake
- Troy
- Walled Lake
- Warren
- Washington
- Waterford
- West Bloomfield
- White Lake
- Wolverine Lake
Neighborhoods in Lake Orion, MI
Village Of Lake Orion Downtown rent to own homesPopular Zip Codes in Lake Orion, MI
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Lake Orion, MI is seeing rapid growth and Lake Orion, MI's' housing market remains not optimal with an average home price that is 27% above the 2024 national average. Lake Orion, 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%.