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Rent To Own Homes in Marengo, IL

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Marengo, IL Foreclosures

How much do homes sell for in Marengo, IL?
The average home price is currently $387,288.
In Marengo, IL, how many homes are available?
There are currently 44 active home listings available in Marengo.
What’s the average rental cost in Marengo, IL?
The average rental price in Marengo is $1,642.
What is the most expensive home in Marengo?
The most expensive home sold in Marengo had a price of $4,999,000.
What is currently the cheapest priced home in Marengo, IL?
The cheapest home for sale in Marengo is priced at $10,893.

Living in Marengo, IL

Marengo, IL, is a charming small town with a rich history, friendly community, and easy access to outdoor activities. Located just over an hour from Chicago, it offers a peaceful lifestyle complemented by good schools and local amenities, making it ideal for families and commuters alike.

Current Market Conditions in Marengo, IL

The current real estate market in Marengo has seen a steady increase in home values over the past year, driven by a growing interest from families looking for more affordable housing options in suburban areas. This trend has led to a competitive market where homes are selling faster than in previous years, attracting a mix of first-time buyers and investors.

Many properties are still affordable compared to nearby urban areas, offering good equity potential as demand rises. Interest rates remain relatively stable, making home financing accessible to many buyers.

Home Value Estimator For Marengo, IL

There are currently 4,462 real estate properties in Marengo, IL, with a median automated valuation model (AVM) price of $338,556.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Marengo, IL, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Marengo, IL, is $387,288.00, with the most expensive house in Marengo, IL, topping out at $4,999,000.00 and the cheapest home in Marengo, IL, clocking in at $10,893.00. In other words, there’s something for every potential homebuyer or savvy investor in Marengo, IL!

Rent Prices In Marengo, IL

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Marengo, IL, is on a rollercoaster ride. The average rent price in Marengo, IL, is $1,642.00. Indeed, when looking to rent in Marengo, IL, you can expect to pay as little as $730.00 or as much as $2,940.00, with the average rent median estimated to be $1,560.00. The good news is that finding an affordable and desirable property to rent in Marengo, IL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Marengo, IL Rent To Own Homes


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