Rent to own Homes in Carteret, NJ
The borough of Carteret is a municipal area with a population of about 22,000 in Middlesex County, just across the bay from Staten Island, NY. It has become known over the past decade as a model for beneficial government programs and urban revitalization. The community boasts more than $600 million in private investment, an enviable park system and a redeveloped waterfront. A sense of local pride is pervasive, and locals say there is "something for everyone" in Carteret.
Carteret, NJ is a great place for affordable rent-to-own homes! With a median household income of over $76,276 and a median rent of $1,521, the Carteret, NJ 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 Carteret, NJ. 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 Carteret, NJ Property Resources
Rent to own Homes in Cities Near Carteret, NJ
- Belford
- Brownville
- Clearbrook
- Cliffwood
- Cliffwood Beach
- Concordia
- Connecticut Farms
- East Franklin
- East Freehold
- Eatontown
- Elizabeth
- Fords
- Fort Monmouth
- Harrison
- Hazlet
- Helmetta
- Highlands
- Hopelawn
- Howell
- Keansburg
- Kearny
- Kenilworth
- Keyport
- Leonardo
- Linden
- Little Silver
- Llewellyn Park
- Madison
- Marlboro
- Menlo Park Terrace
- Monroe Manor
- Monroe Township
- North Brunswick
- Oceanport
- Parlin
- Perth Amboy
- Port Monmouth
- Red Bank
- Roosevelt
- Rossmoor
- Rumson
- Rutgers University Livingston Campus
- Sayreville
- Secaucus
- Shrewsbury
- Society Hill
- Somerset
- Springfield
- Whittingham
- Yorketown
Neighborhoods in Carteret, NJ
Carteret rent to own homesPopular Zip Codes in Carteret, NJ
07008 rent to own homesBuying a Home in Carteret, NJ
Carteret, NJ is seeing rapid growth and Carteret, NJ's' housing market remains not optimal with an average home price that is 29% above the 2024 national average. Carteret, NJ is part of Middlesex 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 Middlesex is 1.76% which is above the national average, which is 0.99%.
Median Home Price in Carteret, NJ
Median Rent in Carteret, NJ
Top 5 Reasons to Live in Carteret, NJ
Redeveloped industrial zones! Since 2003, the former industrial skyline of Carteret has been reconfigured to reflect a beautiful mix of commercial and retail business enterprises. Public-private partnerships have spurred redevelopment, growth and cleanup, and Carteret's achievements are recognized statewide. An Urban Enterprise Zone helps to attract new business and innovative Fitness and Wellness Center programs cater to residents from preschool age to seniors.
Agricultural heritage! Known as one of the "bread" colonies during the Revolutionary War, fruits, vegetables, chickens and cows were important in early Middlesex County History. Today, there aren't many local farms, but there's a popular restaurant named The Salad Factory that has built its reputation on preparing great dishes from fresh ingredients for nearly 30 years. Carteret is a green community, and is proud of its hybrid government vehicles.
Rising home prices! Although prices are still below the highs of 2008, median prices are trending upward again, so it is a good time to look for rent to own homes in Carteret. More than half of the existing homes are owner occupied. Look for options on Washington or Pershing Avenues. Perhaps partly due to its progressive reputation, the average age of residents is below the state average.
Beautiful water! There is a lot of water in Carteret, and you can enjoy the views, walk, jog or ride your bike on local trails. During summer months, the city sponsors a number of trips to nearby attractions like the Statue of Liberty, Coney Island, Liberty Science Center and various beaches. The rest of the year, enjoy the seasons at Carteret Park or watch a local baseball game at Joseph Medwick Memorial Park.
Plentiful real estate deals! If you're creative and don't mind doing some work yourself, look for a house that's for sale by owner. A foreclosed property may also be a great deal. Carteret has a lot of pizza places per capita to help you celebrate when the work is done. Try Alfredo's for great pies and a pleasant atmosphere, Lucia's for all things Italian, and Riunite where you can also order lighter fare like salads and wraps.