Rent to own Homes in Livonia, MI
Founded in 1950, Livonia, Michigan, is in the northwest of Wayne County. Home to a population of just under 100,000, the city consists of a number of residential neighborhoods, commercial developments and industrial centers. A haven for families, Livonia has a number of notable private and community colleges. Livonia also houses an array of primary and secondary schools and a handful of public libraries. It's little wonder that the motto is 'People Come First' in Livonia.
Livonia, MI is a great place for affordable rent-to-own homes! With a median household income of over $82,158 and a median rent of $1,095, the Livonia, 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 Livonia, 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 Livonia, MI Property Resources
Rent to own Homes in Cities Near Livonia, MI
- Allen Park
- Auburn Hills
- Barton Hills
- Belleville
- Berkley
- Bingham Farms
- Birmingham
- Bloomfield Hills
- Brighton
- Carleton
- Clarkston
- Clawson
- Commerce Township
- Dearborn
- Dearborn Heights
- Detroit
- Farmington
- Ferndale
- Flat Rock
- Franklin
- Garden City
- Hartland
- Hazel Park
- Highland
- Huntington Woods
- Keego Harbor
- Lake Angelus
- Lathrup Village
- Madison Heights
- Melvindale
- New Boston
- New Hudson
- Oak Park
- Orchard Lake Village
- Pleasant Ridge
- Pontiac
- Redford
- Riverview
- Rochester Hills
- Southfield
- Southgate
- Sylvan Lake
- Taylor
- Trenton
- Troy
- Walled Lake
- West Bloomfield
- Willis
- Woodhaven
- Wyandotte
Neighborhoods in Livonia, MI
Clements Circle rent to own homes Woodbury Park rent to own homes SMB Estates rent to own homes Coventry Gardens rent to own homesPopular Zip Codes in Livonia, MI
48153 rent to own homes 48151 rent to own homes 48150 rent to own homes 48152 rent to own homes 48154 rent to own homesBuying a Home in Livonia, MI
Livonia, MI is seeing rapid growth and Livonia, MI's' housing market remains optimal with an average home price that is -6% below the 2024 national average. Livonia, 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 Livonia, MI
Median Rent in Livonia, MI
Top Reasons to Live in Livonia MI
Housing Statistics The current median sale prices for homes in Livonia is around $130,625, with the average home sales price being $138,700. Over the last year, there were 681 home sales transactions. A city consisting of mostly those who have laid down roots, 73.5 percent of all occupied properties are self-owned, while 26.5 percent are rented or rent to own. Of all residential properties to be found in the city, 15.6 percent are vacant.
Nightlife For those who love going out after the sun sets, Livonia has a variety of evening entertainment and night time activities to offer. From live music venues to pubs, restaurants and comedy clubs, Livonia truly has something for everybody. Claddagh Irish Pub, located on Haggarty Road, has a full bar and a range of Irish and English dishes ready to satisfy any customer. Like most pubs in the area, Claddagh Irish Pub offers outdoor seating, live music, free Wi-Fi and wheelchair access. If you like a pub with games, Snooker's Pool and Pub on Schoolcraft Road offers the same great atmosphere with the addition of 50 pool tables, arcade machines and a jukebox. Finally, for those who like a laugh, there is Joey's Comedy Club--a great location that offers laughs music, food, and dancing all in one place.
Largest Employers and Industries Livonia is a thriving center of production. The transportation equipment industry makes up a major part of Livonia's industrial base. Companies like General Motors, Roush Industries, TRW Automotive, NYX Inc. and the Ford Motor Company are a few of the largest employers within the city. Professional, technical and scientific services are also part of the city's industrial makeup. A123 Systems, The Harvard Drug Group, McKesson Pharmaceuticals, Technicolor Video Services and Valassis are among the employers in this sector. Many of the city's residents also find employment within the education sector.
Livonia Neighborhoods Many of the neighborhoods in Livonia are well-maintained communities that are ideal for families of all sizes. These include areas like: