Rent to own Homes in Oak Park, MI
Kitty-corner to Royal Oak and just north of the Detroit border, Oak Park finds itself in one of the most convenient areas of Metro Detroit. Minutes from Woodward Avenue, Interstate 75 and the Lodge freeway, Downtown Detroit is easily accessed from the heart of Metro Detroit that is Oak Park. However, Oak Park remains its own community with its own culture. A quick walk through of the city reveals an entrepreneurial spirit; family-owned restaurants, community gardens and start-ups are all standard features.
Oak Park, MI is a great place for affordable rent-to-own homes! With a median household income of over $54,202 and a median rent of $1,123, the Oak Park, 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 Oak Park, 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 Oak Park, MI Property Resources
Rent to own Homes in Cities Near Oak Park, 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 Oak Park, MI
No neighborhoods foundPopular Zip Codes in Oak Park, MI
48237 rent to own homesBuying a Home in Oak Park, MI
Oak Park, MI is seeing rapid growth and Oak Park, MI's' housing market remains optimal with an average home price that is -40% below the 2024 national average. Oak Park, 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 Oak Park, MI
Median Rent in Oak Park, MI
6 Reasons to Love Living in Oak Park, MI
Property Prosperity! Though the recession was tough on many areas of Michigan, in the last few years all of Southeastern Michigan has been making a notable recovery, particularly Oak Park! House prices have been up 20 percent this year alone -- exceeding statewide averages, notably the Vincent Park neighborhood and the Burton Homes Manor condominium complex.
House Hunter's Paradise! Oak Park is currently going through a housing boom. With the market up and sales happening left and right, it's both a buyer's AND a seller's market in Oak Park. Rent to own homes and homes for sale are going fast, so make sure to check in consistently with the various neighborhoods for a fit that's for you. Buyers may be interested in the North Oak Park and Verdun Heights neighborhoods.
Fun for All Seasons! Shepard Park, with two basketball courts and an indoor ice rink, is one of the prime features Oak Park has to offer. Lessenger Park is also located within the city.
Working All The Live-Long Day! Moving to Oak Park for reasons other than business? You'll need a job then, won't you? While you settle into a home, you can also check out the Oak Park Michigan Works Center. It's a one-stop solution to getting into the work force. They provide all kinds of services from resume building to job sourcing. The Southfield financial district is a quick drive up the Lodge, and the Northland Mall borders the city proper.
Vast Culinary Choices! From Zeeman's New York Kosher Bakery to Falafel from the Pita Cafe, fabulous restaurants and cafes vigorously abound from neighborhood to neighborhood and often find venues to compete against one another in various cook-offs throughout the year. Look for chili cook-offs starting at the beginning of December!
Outdoor Recreation! With over 10 parks to choose from in just under 8 miles, you can be sure that attention to conservation and keeping Oak Park green is a huge priority for the city. Besides parks, the Rackham Golf Course and the Detroit Zoo are juxtaposed with the city