Rent to own Homes in Kokomo, IN
Low home values make it easy to own here! With a median home value of $78,251 in Kokomo compared to Indiana's median home value of $122,400, it's easier to buy property here, whether you choose to buy or rent to own in areas such as Alto or South Dixon Road.
Kokomo, IN is a great place for affordable rent-to-own homes! With a median household income of over $48,830 and a median rent of $741, the Kokomo, IN rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Kokomo, IN. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Kokomo, IN Property Resources
Rent to own Homes in Cities Near Kokomo, IN
- Amboy
- Arcadia
- Atlanta
- Bringhurst
- Bunker Hill
- Burlington
- Cicero
- Converse
- Cutler
- Deer Creek
- Elwood
- Forest
- Galveston
- Greentown
- Grissom AFB
- Grissom Arb
- Herbst
- Indian Heights
- Kempton
- Kirklin
- Kokomo
- Miami
- Michigantown
- Mier
- New Waverly
- Noblesville
- Onward
- Peru
- Point Isabel
- Russiaville
- Sharpsville
- Sheridan
- Sims
- Somerset
- Swayzee
- Sweetser
- Tipton
- Walton
- Westfield
- Windfall
- Windfall City
- Young America
Neighborhoods in Kokomo, IN
Bon Air rent to own homes Orleans Southwest rent to own homes Markland Heights rent to own homes Downtown Kokomo rent to own homes Country Club Hills rent to own homes Westside Village rent to own homes Lenox rent to own homes Westbrook rent to own homes Darrough Chapel rent to own homes Cedar Crest rent to own homesPopular Zip Codes in Kokomo, IN
46904 rent to own homes 46903 rent to own homes 46902 rent to own homesBuying a Home in Kokomo, IN
Kokomo, IN is seeing rapid growth and Kokomo, IN's' housing market remains optimal with an average home price that is -57% below the 2025 national average. Kokomo, IN is part of Howard county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2025 for county Howard is 0.9% which is below the national average, which is 0.99%.
Median Home Price in Kokomo, IN
Median Rent in Kokomo, IN
Ten Reasons to Live in Kokomo, IN
A healthy renter's market! The percentage of Kokomo residents that rent is about on par with the state's average (39% compared to 40%), so realtors in the area understand the rental market. Finding rent to own homes should be easy in the Kappa Corner and Judson neighborhoods.
Plenty of vacancies! While not as high as the 2008 vacancy rate - it was a record 13.97% -- Kokomo's current vacancy rate hovers around 6.43% to 7.54%, which is a tad higher than the state's average. Luckily, this means that there are enough vacant rent to own houses to go around, whether you prefer to live near the City Center or in Indian Heights.
Affordable rental prices! The average rent for a two-bedroom, two-bath rental in Kokomo is 68 cents per square foot. According to census figures, about 38% of the nation pay less than $750 a month in rent, while in Kokomo almost double the number of residents pay less than $750. If apartments are more your style, check out the Kingston Green or Maple Crest Apartments.
A City of firsts! America's first car was produced here by Elwood Haynes in 1894. Learn about the inventor by touring his Kokomo mansion, which has been turned into the Elwood Haynes Museum.
Get cultured! The Howard County Historical Society is housed in the Seiberling Mansion and the Elliot House in downtown Kokomo. Both properties are on the National Register of Historic Places and in the historic Old Silk Stocking neighborhood.
Explore Kokomo's history! Learn about Kokomo's namesake, Native American Chief Ma-Ko-Ko-Mo at his burial site and monument just east of downtown Kokomo. The City of First's Automotive Heritage Museum in the Kokomo Event Center is a great place to learn about the many innovations the city is known for.
Enjoy the many parks! Highland Park has a stuffed steer, said to be the largest steer in the world, and a picturesque covered bridge in addition to the walking trails and picnic areas. Jackson Morrow Park is home to the city's only skate park.
Shop 'til you drop! If the Markland Mall isn't enough to meet your shopping needs, there's also the Kokomo Town Center, a sprawling outdoor mall that was recently renovated.
Walk a trail! Hike the 3 miles along the Wildcat Creek, which is known as the Wildcat Walk of Excellence. It connects several of the city's parks. The Industrial Heritage Trail is currently just a mile long, but there are plans to expand it and the Nickel Plate Trail in the future.
