Rent to Own Homes in Medford
The city is part of a larger metropolitan area known as Medford MSA, and residents read the Mail Tribune to keep up with local news. Students are served by Medford School District 549C, which includes Central, South and North Medford high schools. For advanced education, students of all ages can attend classes at Rogue Community College in downtown Medford or at the Pacific Bible College. Medford Carnegie Library is another popular community resource, and it was originally established in a small drugstore by the Medford Library Association.
Buying a Home in Medford?
Median listing prices can soar above $270,000 at times, but you can still find median sales prices around $250,000. It's not surprising that more than 60 percent of residents own their homes, since average rental prices are often well above $1,000 per month. You can expect to pay more than $100 per square foot in most Medford neighborhoods, and it's common for buyers to pay more than $150 per square foot in some of the more desirable areas with larger homes and scenic window views. It's important to enter this housing market with a strict maximum spending limit and a good idea of what you're looking for in a home.
Popular Neighborhoods in Medford?
You'll find the most expensive Medford neighborhoods along the southern edge of the city, with many mid-priced communities lining up along the center of the city. The most affordable neighborhood is located east of Foothill road to the city limit line. This is a large community centered on Prescott Park, and the median real estate price is often well below $250,000 here.
If you have a more substantial housing budget and want to live in a safe neighborhood with gorgeous, well-maintained homes, head to the community north of Barnett Road and south of Hillcrest Road. Highland Drive forms the western border for this neighborhood, and Chrissy Park sits at the eastern edge. The Rogue Valley Country Club is located here, and you can expect median home prices above $400,000. For slightly lower prices in one of the city's most in-demand neighborhoods, head south of Barnett Road to the neighborhood surrounding the Centennial Golf Club. Median real estate prices are often around $350,000 here.
Buying vs. Rent to Own Homes?
If you plan on buying a home in Medord within the next three to five years, you should consider a rent-to-own property right now. You select a home that you would like to purchase in the future, and you move in as a renter. You work towards securing financing for the home and make the sale official before the end of your contract. Other home buyers are blocked from purchasing the home during your rental period, and in some cases, a portion of your rental payment will count toward your down payment. Not all homes in Medford offer this type of contract, but it's worth seeking them out if you plan on purchasing a home in the near future.
Cost of Living in Medford?
The cost of housing in Medford is typically 10-20 percent higher than the national average. Many residents pay below-average rates for utilities and some spend less on transportation, but the overall cost of living is still a little higher than the United States average. If you can stick to a reasonable housing budget, it's possible to live comfortably in this city even with a moderate income.
Located toward the southwestern corner of Oregon less than 30 miles from the California state line, the city of Medford offers residents many opportunities for outdoor recreation. There are multiple mountain ranges surrounding the city, and residents have access to a large state park for hiking, mountain biking and climbing. The city is also dotted with community parks featuring playgrounds and walking trails. Though the cost of living is a little higher than the national average, this is one beautiful city where you can live comfortably while enjoying an active lifestyle.
Summary
Located toward the southwestern corner of Oregon less than 30 miles from the California state line, the city of Medford offers residents many opportunities for outdoor recreation. There are multiple mountain ranges surrounding the city, and residents have access to a large state park for hiking, mountain biking and climbing. The city is also dotted with community parks featuring playgrounds and walking trails. Though the cost of living is a little higher than the national average, this is one beautiful city where you can live comfortably while enjoying an active lifestyle.
Rent to Own Realtors
An agent serves as a protection for both the buyer and the seller. They can save the buyer and seller a lot of time and money, which could offset the realtor’s commission.
However, not many realtors are interested in helping with lease-options. They make a minimal profit off of the lease portion of the deal, and the profit from the purchase is several years down the line and isn’t guaranteed.
Instead, protect yourself by communicating with lawyers, title agents and mortgage lenders to ensure that your rent to own deal works smoothly.
About Our Listings
Financially, buying apartments, houses or any other types of properties makes sense when compared to renting. You're paying roughly the same amount per month for your mortgage that you would to rent the same type of home. However, there are obstacles that make that process difficult to attain, like minimum down payments and bad credit. Those barriers prevent banks from ending up having to sell foreclosed homes.
Nonetheless, those barriers shouldn’t stop you from owning your own condo or townhouse. Through rent to buy and lease to purchase programs with no credit check, you could start working toward owning a house.
A lot of people who rent to own by owner take advantage of Rent to Own Lab’s free listings. Search our website for cheap lease-purchase or lease-option properties near me and see if rent to own could be the right option.
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