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Rent to Own Homes in Duluth
Duluth is a port city on Lake Superior’s shore in Minnesota in the United States. The city is also the county seat of St. Louis County, and while the population of Duluth is at 86,110, the Duluth MSA, which spans a wider area had a population of 279,771 as of the 2010 United States census.
Originally founded in the 1800’s as a copper and gold mining town during the gold rush, Duluth became known for its iron and coal mining. While it is no longer involved in the coal and iron mining industries, Duluth is now a popular tourist destination. Visitors can arrive at the Duluth International Airport and visit a number of attractions such as the Great Lakes Aquarium, which is the only exclusively freshwater aquarium in the United States. Duluth also offers residents arts and cultural events and outdoor recreation activities. The below results are primarily rent to own homes in St. Louis County, MN:
Duluth is a port city on Lake Superior’s shore in Minnesota in the United States. The city is also the county seat of St. Louis County, and while the population of Duluth is at 86,110, the Duluth MSA, which spans a wider area had a population of 279,771 as of the 2010 United States census.
Originally founded in the 1800’s as a copper and gold mining town during the gold rush, Duluth became known for its iron and coal mining. While it is no longer involved in the coal and iron mining industries, Duluth is now a popular tourist destination. Visitors can arrive at the Duluth International Airport and visit a number of attractions such as the Great Lakes Aquarium, which is the only exclusively freshwater aquarium in the United States. Duluth also offers residents arts and cultural events and outdoor recreation activities.
Buying a home in Duluth
While the housing market has fluctuated over the past five years, Duluth’s housing market is currently trending upwards. Median home value is currently at $178,450 and is set to rise, which means now is a good time to buy a home in Duluth.
Those buying a home in Duluth might qualify for a special program through their Housing and Urban Development Department. Programs vary depending on income and home buying status, so those interested in these programs have to reach out to Duluth’s HUD department for more details.
Buying versus Rent to Own
Individuals who lack the savings for the down payment for a traditional mortgage, or for those who are lacking credit for financing, a rent to own agreement might be a good option. In a rent to own situation, a deposit is put in place and payments are made over a set period of time. A portion of each monthly payment is set aside and saved towards the down payment on the home. After the agreed upon period of time has passed, the resident will then buy the home using the funds held by the property owner. A benefit to a rent to own situation is that an individual can live in their new home while they are saving to buy it.
Summary
Duluth, Minnesota is a large, port city along Lake Superior. A major tourist destination, visitors and residents enjoy a wide range of outdoor activities and attractions such as the Great Lakes Aquarium and the Aerial Lift Bridge. An ever-growing major hub in the Midwest, Duluth’s population continues to grow alongside its increasing housing market.
Rent To Own Labs provides a diverse set of real estate listings, including rent to own (“lease to own” or “lease purchase”), 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, and include both condos & houses. Rent to own homes near me include the list of zip codes we serve in this area:
- 55701
- 55801
- 55814
- 55815
- 55816
- 55802
- 55808
- 55812
- 55805
- 55806
- 55810
- 55807
- 55804
- 55803
- 55811