Search all the latest Rent to Own Homes in Oak Park, MI. There are more than 12 rent to own homes currently on the market. Try out homes and neighborhoods without the buying commitment by choosing a rent to own property. It’s a simple process with the homeowner, you start out as a renter, and then purchase the property when you're financially ready to apply for a home loan with a local bank. The rent-to-own process allows new home buyers with poor credit scores, or who lacks the down-payment required by the bank, the opportunity to live in their home while working on improving their credit and saving funds.
Remember, not all sellers in Oak Park, MI will offer up their homes as a Rent To Own, but it's worth researching and locating those opportunities. We have listed 12 rent to own homes currently on the market, below.
Oak Park is a city in south Oakland County of the U.S. state of Michigan. It is a northern suburb of the city of Detroit, which is located in neighboring Wayne County, and part of its metropolitan area. As of the 2010 census, the population of Oak Park is 29,319.
This area was designated as within Royal Oak Township; it was first settled by European Americans in 1840, but remained sparsely populated for many decades following. The first major housing development was constructed in 1914 at the time of World War I, when the township sold land to the Majestic Land Company to be developed as the Oak Park subdivision. The subdivision was incorporated as a village on May 3, 1927. Two petition drives during the Great Depression to dissolve the village government and return it to the township, citing "excessively high cost of village government," failed in 1931 and 1933, respectively. The village incorporated as city on October 29, 1945 following the end of World War II.
Stimulated by the GI Bill which aided veterans in buying new housing, highways to improve commuting, and planned developments in the late 1950s, Oak Park from 1950 to 1960 was named as "America's Fastest Growing City". Its population increased sevenfold, from 5,000 to more than 36,000. Much of its population was second and third-generation children of European immigrants who had settled in Detroit in the early 20th century.
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