Rent to own Homes in El Reno, OK
El Reno is about 25 miles away from downtown Oklahoma City, but its unique history makes it just as interesting. At one point, for instance, it was named Reno City. Unfortunately, this caused much of the residents' mail to be delivered to Reno, Nevada. The city was also founded five miles from its present spot, but residents thought it best to move after repeated flooding.
El Reno, OK is a great place for affordable rent-to-own homes! With a median household income of over $42,659 and a median rent of $766, the El Reno, OK 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 El Reno, OK. 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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El Reno, OK is seeing rapid growth and El Reno, OK's' housing market remains optimal with an average home price that is -47% below the 2024 national average. El Reno, OK is part of Canadian 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 Canadian is 0.94% which is below the national average, which is 0.99%.
Median Home Price in El Reno, OK
Median Rent in El Reno, OK
Top 3 Reasons to Live in El Reno, OK
Insane housing value appreciation! America's housing market is experiencing a strong rebound. In fact, real estate values have gone up about 12 percent over the past decade. In El Reno, however, this number stands at over 25 percent. Homes are quickly gaining in value, and this means that anyone looking to make an investment, whether buying a home outright or seeking rent to own houses, would be wise to make the move to El Reno. There are plenty of great places to live, and there's even houses near the waterfront of Lake El Reno, the North Canadian River and several smaller water sources. Since over half of the homes in the city are actually owned by those who live in them, it's obvious that water isn't all the city has to offer.
The entertainment is everywhere! There are always things to do around El Reno, and the most exciting part isn't just swinging by the Dollar General in town. If you're tired of sitting around the house all night, the Reno Cinema 8 has a lineup of the greatest new movies, and they even have an awesome retro night if you're interested. If you're more into "theatre" than the "theater," head on over to The Centre Theatre to get everything from country music shows and retro movies to theatrical plays and Halloween Spooktaculars.
Amazing property tax rates! With housing valuations going up so quickly relative to the national rate, one may be inclined to assume that the property tax rates in El Reno must be astronomical. Fortunately, those people would be wrong. In fact, these taxes in Reno are nearly 20 percent lower than the national average. So regardless of whether you want to live out where Google Maps hardly goes, like near the Fort Reno Visitor Center, or right in the thick of things around El Reno Legion Park, you're going to be saving plenty of money compared to your non-Oklahoman brothers and sisters in the rest of the country.