Rent to own Homes in Jackson, TN

With 950 homes for sale, Jackson has plenty of opportunities for prospective home buyers. The median sales price is $110,000, a more than 5 percent increase over last year. Of the homes available for sale, 117 are foreclosures, making rent to own houses a significant possibility. With the number of sales dropping more than a quarter, more and more homeowners face the necessity of renting, giving renters more negotiating power. Homes range from modest two bedroom offerings to four or more bedrooms, depending on the neighborhood.

Jackson, TN is a great place for affordable rent-to-own homes! With a median household income of over $42,549 and a median rent of $878, the Jackson, TN 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 Jackson, TN. 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.