December 8, 2022

Lease to own Homes in Arlington TX

Abilene is a thriving and vital mid-sized city of the Texas Midwest. The city is home to 120, 958 residents, and its Abilene Metropolitan Statistical area houses 166, 416 people. Abilene’s widely diverse activities and attractions keep locals entertained, from the unique Frontier Texas! interactive museum to the downtown Art Walks and Abilene Zoo.

Abilene Rent to Own Homes (86 Listings Found)

Locals also appreciate a broad range of amenities and services. Abilene Regional Airport makes it easy for residents to travel to other cities. In addition to the Abilene Regional Airport, residents also have access to the city’s CityLink public transportation for travel around town. Abilene is also educationally rich and was ranked as a top 20 public education system in the nation. Most of the local public schools are operated by the Abilene and Wayne independent school districts and include Abilene High School and Cooper High School. Higher education is provided by Abilene Christian University, Cisco Junior College and a host of other universities and colleges.

Buying a Home in Abilene

In spite of the community’s strong growth and booming job market, homes are still affordable in Abilene. Median home prices have climbed 14 percent in the past year to $162, 000, and the average price has jumped nearly 10 percent to $193, 882. Part of that increase is due to a decline in the number of new listings and total housing inventory. Over the past year, the number of properties placed on the market fell nearly 2 percent to 671 homes. Simultaneously, the selling pace quickened by more than 24 percent, with homes selling within 56 days.

Popular Neighborhoods in Abilene

Young adults, hipsters and Millennials enjoy the lively atmosphere of living in Downtown Abilene, and some residents enjoy the area’s historic architecture. Families appreciate the large homes, established neighborhoods and good schools found in the Lytle Area. At a median listing price of $249, 900, homes in Lytle are above the city’s average, but they are generously sized, and most lots are similarly spacious. Charming vintage homes are found in the North College neighborhood, where median prices are $139, 000, and most homes were built before 1969. Families enjoy the Canterbury Trails neighborhood where the schools are good, homes are reasonably priced at a median $139, 900, and properties were developed in the 1980s.

Buying vs. Rent to Own Homes

Buying a home the conventional way kicks off a flurry of activity: gathering financial paperwork, dealing with loan officers and credit reporting agencies and negotiating a home purchase. In contrast, renting to own a home proceeds at a more leisurely pace. You’ll negotiate terms with the seller, go through a simple credit check and pay a small option fee. You can move into your new home right away, making the usual rent payments plus a monthly rental premium. That premium and your initial option fee are often credited to the down payment you’ll owe at the conclusion of your rent to own contract.

Cost of Living in Abilene

Recent gains in job growth and income doesn’t seem to have increased Abilene’s delightful cost of living. Local residents appreciate that they only spend 83 cents on life’s necessities for every dollar spent by most Americans. Housing is just over half the cost of housing in other towns, and groceries are 11 percent cheaper than the national average. Other expenses are closer to the national average, but still a bargain. Health care, utilities, and transportation costs are 1 to 3 percent cheaper than in the rest of the country.

Summary

Abilene residents are right to take pride in their city. It has earned several national rankings as one of the best places to live in the country. With the Dyess Air Force Base and local colleges contributing much to the local economy, the city enjoys a robust job market. Housing costs are just 56 percent of the national average. Overall living expenses are equally affordable, costing locals 17 percent less than the national average. Whether you’re in town to work, go to school or simply enjoy Abilene’s thriving community, Abilene is sure to please.

Rent To Own Labs provides a diverse set of real estate listings, including rent to own, owner financing, foreclosed, for sale by owner, and rental home opportunities. These listings are available to low-income residents and those with bad credit or no credit. See below for the list of zip codes we serve in this area: