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Rent to Own Homes in Phenix City
Sitting on the west side of the Chattahoochee River, Phenix City, Alabama occupies portions of Lee County and Russell County. The city is home to 37,000 residents and has been recognized as the Best Affordable Suburb in which to raise a family by BusinessWeek. The city is spread over a mere 24.8 square miles, giving it a distinct small-town vibe that will suit those who prefer to avoid bigger cities. Some speculate that the city was named after Phenix Mills across the river in Georgia.
Downtown Phenix City is home to many older buildings which reflect the original architecture that defined the city in its earliest days. The Phenix City story is quite colorful, with the town once being a hub of illegal gambling that was led by Jimmie Matthews and other members of a national crime syndicate. Eventually, efforts to reform Phenix City were successful and the city blossomed into the Alabama jewel that it is today.
Sitting on the west side of the Chattahoochee River, Phenix City, Alabama occupies portions of Lee County and Russell County. The city is home to 37,000 residents and has been recognized as the Best Affordable Suburb in which to raise a family by BusinessWeek. The city is spread over a mere 24.8 square miles, giving it a distinct small-town vibe that will suit those who prefer to avoid bigger cities. Some speculate that the city was named after Phenix Mills across the river in Georgia.
Downtown Phenix City is home to many older buildings which reflect the original architecture that defined the city in its earliest days. The Phenix City story is quite colorful, with the town once being a hub of illegal gambling that was led by Jimmie Matthews and other members of a national crime syndicate. Eventually, efforts to reform Phenix City were successful and the city blossomed into the Alabama jewel that it is today.
Youth baseball is a popular activity in Phenix City, and in 1999 the Phenix City National Little League team advanced to the Little League World Series. The Phenix City National youth league is still active today, just one of many reasons couples find this city a superb place to raise their children
Buying a Home in Phenix City
Homes in Phenix City are occupied by an even mix of homeowners and renters, with almost 7,000 residents owning their own homes. The median home price is approximately $118,000. Owners with a mortgage pay $1,000 per month on average. Housing costs tend to be more affordable in Phenix City than they are nationwide, with almost 70% of homeowners paying less than 30% of their income for housing.
Families will find homes in Phenix City to their liking. Almost 60% of them have three or more bedrooms. While there are older homes in the city, 83.5% of homes were constructed after 1990. This gives the city a modern, trendy appeal.
Popular Neighborhoods in Phenix City
The Girard/Kaolin neighborhood on the east side of Phenix City is one of the most affordable and quiet locations for both families and singles. This neighborhood has many retail establishments within walking distance and is very close to the Alabama/Georgia border. Homes here have a median price of $87,000 and residents are primarily older married couples. The Crawford/Hugley neighborhood on the western edge of Phenix City is one of the quietest residential areas to be found, and sports a mix of singles and married couples. Homes in this neighborhood tend to exceed the median value of the city as a whole.
Buying vs. Rent to Own Homes
Purchasing a home in Phenix City, while affordable, can still present the normal challenges that accompany qualifying for a home loan. First-time homeowners might want to consider a rent to own home as an alternative. These homes do not require traditional mortgage loans and allow the buyer to apply a portion of their monthly rental cost to ownership. Another benefit is that owners are not forced to try and sell the home should their circumstances change.
Cost of Living in Phenix City
Those looking to purchase a home in Phenix City will find substantial value in the local housing market with costs being 28% lower than the national par. Overall, it is 8% more affordable to live in Phenix City than it is in the rest of the United States. Groceries, transportation, and healthcare costs remain close to the national median, but utilities are priced at 14% less than they are nationwide and 13% less than they are in other Alabama cities.
Summary
Phenix City, Alabama resonates with a strong family atmosphere that is evident in its quiet, walkable neighborhoods. The close proximity of the Chattahoochee River presents many opportunities for outdoor sporting activities. Good schools complete the perfection of this award-winning suburban area. Phenix city is culturally diverse and possesses a vibrant local economy.
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:
- 36868
- 36870
- 36869
- 36867