Rent to own Homes in Rochester Hills, MI
Rochester Hills is situated in the Metropolitan Detroit Area, Michigan, in northeast Oakland County. The city consists of a mostly affluent and comfortable population of 70,995. The township was first established in 1835 and continues to develop to this day. The name "Rochester Hills" is partly derived from the town's geographical location, surrounded by lush, rolling hills.
Rochester Hills, MI is a great place for affordable rent-to-own homes! With a median household income of over $99,666 and a median rent of $1,311, the Rochester Hills, 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 Rochester Hills, 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 Rochester Hills, MI Property Resources
Rent to own Homes in Cities Near Rochester Hills, MI
- Allenton
- Armada
- Auburn Hills
- Beverly Hills
- Birmingham
- Capac
- Center Line
- Clarkston
- Clawson
- Clinton Township
- Commerce Township
- Dearborn
- Dearborn Heights
- Dryden
- Eastpointe
- Farmington Hills
- Ferndale
- Grosse Pointe
- Grosse Pointe Park
- Grosse Pointe Woods
- Huntington Woods
- Imlay City
- Keego Harbor
- Lake Angelus
- Lathrup Village
- Leonard
- Livonia
- Macomb
- New Haven
- Novi
- Oakland
- Orchard Lake Village
- Oxford
- Pleasant Ridge
- Pontiac
- Redford
- Rochester
- Rochester Hills
- Romeo
- Roseville
- Royal Oak
- Southfield
- St. Clair Shores
- Sylvan Lake
- Troy
- Village of Grosse Pointe Shores
- Walled Lake
- Warren
- Waterford
- White Lake
Neighborhoods in Rochester Hills, MI
Brooklands Park rent to own homes Stoney Creek rent to own homes Winkler Mill rent to own homesBuying a Home in Rochester Hills, MI
Rochester Hills, MI is seeing rapid growth and Rochester Hills, MI's' housing market remains not optimal with an average home price that is 40% above the 2024 national average. Rochester Hills, 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 Rochester Hills, MI
Median Rent in Rochester Hills, MI
Top Reasons to Live in Rochester Hills MI
Housing Statistics Most recently, prices sat at a median of roughly $226,000 in Rochester Hills. Compared to the quarter before it, this shows an increase of $27,250, or roughly 13 percent. When taking last year into account, sales have increased by a total of 19 percent. In Rochester Hills, 72 percent of homes are occupied, 21 percent of homes are rented and 6 are vacant. The median sale price when looking at last year was $160,153. In the last five years, home sales have appreciated a total of 16.5 percent. Homes in the area are available to rent to own, which gives homebuyers a chance to really warm up to their new place of residence and neighborhood.
Largest Employers and Industries In terms of employers and industries, Rochester Hills boasts a large number of corporate headquarters in electronic, research, structural engineering, computer technology, plastic injection molding and tool and die. Some examples of major employers are as follows: Kramer Triad Management Group, Columbia Center LLC and The Kresge Foundation. When looking at the town's demographics, there is a high level of both business executives and professional athletes.
Tourist Attractions Tourist attractions in the city are plentiful. On Hamlin Road, those interested will enjoy the Festival of the Hills. Every June 27th, thousands of people gather for a fireworks display at Borden Park. This festival is known to be the town's major event every summer. Other attractions include Thelma G. Spencer Park and Beach, where people enjoy a large, 113 acre park on a 38 acre lake, on John R. Road. The Rochester Hills Museum is another exciting attraction, which is the home of the Taylor Van Hoosen family. This museum provides a plethora of valuable information concerning the town and its origins.
Weather and Climate In Rochester Hills, residents enjoy an average of 179 days of sun every year. In July, it will often reach up to 83 degrees. In January, it drops to 16. It is a relatively dry area, with an average of 30 inches of rain each year (37 is the average on the United States). Snowfall reaches an average of 32 inches a year, while the U.S. average is just 25. The area will have at least some precipitation 120 days of the year. Humidity has been measured at 50 out of 100 using the comfort index, while the U.S. average is 44 out of 100.
Local Shopping The most popular shopping area in Rochester Hills is the Village of Rochester Hills. This is a 375,000-square-foot shopping district in the center of the town. This district makes up its own "downtown" area, and it is the first in Michigan to experiment with the "streestscape" concept. Here, shoppers will find a myriad of local goods and services for a range of interests including home furnishing, beauty, clothing and dining. Also, have a look at A Bud To Go, a lovely neighborhood florist on 1603 E Auburn Rd and visit Annie's Music Store on 2646 S Rochester Rd for all your instrument needs.