Rent to Own Homes in Picayune
When the railroad came through the community in the 1880s, then known as Hobolochitto, the people asked one of its prominent residents, Eliza Jane Poitevent Nicholson, to name the area. She was the publisher of the newspaper New Orleans Daily Picayune – the name of a Spanish coin – and that was the name... Read More
When the railroad came through the community in the 1880s, then known as Hobolochitto, the people asked one of its prominent residents, Eliza Jane Poitevent Nicholson, to name the area. She was the publisher of the newspaper New Orleans Daily Picayune – the name of a Spanish coin – and that was the name she chose for her city. The paper is still published today under the name Times-Picayune.
Incidentally, Mrs. Nicholson’s pen name was Pearl Rivers, and the name of the county in which Picayune is located is Pearl River County. Although in a different state, Picayune is considered part of the New Orleans metropolitan area.The below results are primarily rent to own homes in Pearl River County, MS:
When the railroad came through the community in the 1880s, then known as Hobolochitto, the people asked one of its prominent residents, Eliza Jane Poitevent Nicholson, to name the area. She was the publisher of the newspaper New Orleans Daily Picayune – the name of a Spanish coin – and that was the name... Read More
When the railroad came through the community in the 1880s, then known as Hobolochitto, the people asked one of its prominent residents, Eliza Jane Poitevent Nicholson, to name the area. She was the publisher of the newspaper New Orleans Daily Picayune – the name of a Spanish coin – and that was the name she chose for her city. The paper is still published today under the name Times-Picayune.
Incidentally, Mrs. Nicholson’s pen name was Pearl Rivers, and the name of the county in which Picayune is located is Pearl River County. Although in a different state, Picayune is considered part of the New Orleans metropolitan area.The below results are primarily rent to own homes in Pearl River County, MS:
Picayune was incorporated as a township in 1904 and as a city seventeen years later. It is centrally located between New Orleans, Hattiesburg, and Gulfport-Biloxi, being about 45 miles from each of those three cities.
The city’s population grew gradually throughout the 20th century. By 1940 it had reached 5,000, and it hit the 10,000 mark by 1970. Since then, there has been little change; the current populations stands at about 10,600.
Buying a Home in Picayune
Current home listings in Picayune range from $39,900 to $299,500. The median home price remains at a modest $108,500, which is over 40 percent below the national average. Overall, the cost of living in this small Mississippi town is nearly 16 percent lower than the national average. The median age is about 35, and about 46 percent of the population is married.
The city is served by the Picayune School District. This includes four elementary schools, Picayune Junior High School, and Picayune Memorial High School. GreatSchools rates the schools on a 1-10 scale, and the schools in Picayune have various ratings. Parents with school-aged children should check out the schools when shopping for a neighborhood.
Picayune boasts a mild southern climate. Average high temperatures are 62 in January and 91 in July, making it a pleasant place to be all year.
Popular Neighborhoods in Picayune
Six constituent neighborhoods make up the city of Picayune. The Hide-A-Way Lake area encompasses a small lake and is comprised primarily of medium- to large-sized single-family homes. Most of the residential real estate is owner occupied. It’s been rated in the top five percent of family-friendly neighborhoods in the entire state. The median home cost is about $205,000.
Just to the south is the Route11/Route 43 neighborhood. With a mixture of owners and renters, the residential real estate is made up of small- to medium-sized single-family homes and apartment complexes. This is an average income neighborhood, and the median home cost is about $124,000.
Buying vs. Rent to Own Homes
You may already be thinking about a move to Picayune because of its mild climate and low housing cost. But buying a home can be a long, complicated process. If you’re not quite ready for that step, have you considered a rent-to-own arrangement? A portion of each month’s rent goes toward a down payment to eventually buy the house. It’s doesn’t require a large outlay of cash, and renters can look forward to becoming proud, happy homeowners.
Summary
Situated in the southernmost part of Mississippi, Picayune is close to the bustling and unique city of New Orleans, Lake Pontchartrain, and the clear, sparkling waters of the Gulf of Mexico. A short drive to the west takes you to Baton Rouge, and to the east is Mobile and Pensacola. Combined with the mild climate and low cost of living, Picayune is a quiet, friendly place to settle and put down roots.
Rent to Own Realtors
Realtors can qualify buyers to get an idea of when they will be ready to purchase a rent to buy home and inform them on how long to set the lease term, but mortgage officers can do that too.
Banks can make a lot of profit off of a successful mortgage. That’s why mortgage officers will be willing to help you figure out the details of your rent to own deal. However, real estate agents don’t make enough profit off of rent to own deals to justify waiting a few years for the commission.
While real estate agents might be a logical partner in rent to own deals, you’ll have a lot of difficulties finding one to help you. For everything you think you need a realtor for, consider what other types of professionals might be able to help you, like title companies or lawyers.
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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