Rent to own Homes in Wyoming, MI
Just outside of Grand Rapids, Michigan's second largest city, lies Wyoming, Michigan, a city of 72,000. Wyoming is a city known for its recreational activities, and it is home to more than 20 parks! Wyoming became a city in 1959, and it has experienced population growth in every census since 1890. And you know where the name "Wyoming" came from? Wyoming County, New York, which is where many of the city's early settlers came from.
Wyoming, MI is a great place for affordable rent-to-own homes! With a median household income of over $57,088 and a median rent of $910, the Wyoming, 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 Wyoming, 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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Wyoming, MI is seeing rapid growth and Wyoming, MI's' housing market remains optimal with an average home price that is -38% below the 2024 national average. Wyoming, 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 Wyoming, MI
Median Rent in Wyoming, MI
Top Reasons to Live in Wyoming MI
Housing Statistics As of the 2010 census, there are 28,983 housing units in Wyoming, with 93 percent of those being occupied. Of the occupied housing units, 65.9 percent are owner-occupied and 34.1 percent are renter occupied. The rental vacancy rate in the city is 7.7 percent, compared to the national rental vacancy rate of 7.4 percent. In other words, it shouldn't be terribly difficult to find a decent rent to own house. As for potential homeowners, it may be worth noting that the median home sale price last year was $75,000, and that homes have a comparatively fast turnaround rate, with active properties only being listed for an average of 41 days.
Weather and Climate Wyoming lies just east of Lake Michigan and thus is part of the lake's snow belt, receiving over 70 inches of lake effect snow each year. This ranks the city within the top 20 snowiest cities in the country! As for the temperature, it ranges greatly throughout the year, with lows averaging in the mid-teens in January, and highs averaging in the mid-80s in July.
Largest Employers and Industries Business is thriving in Wyoming, especially in manufacturing. According to a Forbes article published in April 2013, the Grand Rapids-Wyoming area had an unemployment rate much lower than Michigan's (and the country's): 6.6 percent compared to 8.8 percent in all of Michigan. In fact, the magazine ranked the area as the fourth best city for finding a job. As for the largest employers in Wyoming proper, Metro Health Hospital is far and away the city's largest employer, with over 2,200 employees--or 4.42 percent of the total city's employment. The next largest employer is Gordon Food Service, with 960 employees, followed by United Parcel Service, Wyoming Public Schools, Benteler Industries, Delphi Automotive, and Synergis Technologies Group. These 7 companies make up nearly 12 percent of the city's workforce.
Tourist Attractions With more than 20 parks in the city there is never a shortage of outdoor activities. The parks range in degree of development, with some offering playgrounds and sports fields and others offering picnic areas and grills. Other highlights include lakes, fishing piers, walking and biking trails, concession stands, and a skate park. An additional treat is the SplashPad at Oriole Park, which offers an "interactive play space featuring soaker stations, a water tunnel, fire hydrant and dumping buckets." If you don't want to leave your furry friend at home you can always head over to the dog park at Marquette Park. One last outdoor activity is Kent Trails, a 15-mile trail that runs through Wyoming, Grand Rapids, and other surrounding areas. It's a great place to walk, bike, roller blade, or cross-country ski! The town also plans tons of activities for local residents and visitors.
Transportation and Commutes It's easy to get to and around Wyoming, whether or not you have a car. If you're driving, a bunch of major roads run along or through the city, including M-6, M-11, US 131, I-196, and BS I-196. If you're looking for public transportation, you're in luck, as the city is part of the Grand Rapids Interurban Transit Partnerships, better known as the Rapid. Out of the 28 routes served by the Rapids, 8 run in Wyoming itself. The city is also serviced by Gerald R. Ford International Airport, which is only 20 minutes away.