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Rent To Own Homes in Romulus, MI

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Romulus, MI Foreclosures

How much do homes sell for in Romulus, MI?
The average home price is currently $245,445.
In Romulus, MI, how many homes are available?
There are currently 20 active home listings available in Romulus.
What’s the average rental cost in Romulus, MI?
The average rental price in Romulus is $1,198.
What is the most expensive home in Romulus?
The most expensive home sold in Romulus had a price of $8,127,746.
What is currently the cheapest priced home in Romulus, MI?
The cheapest home for sale in Romulus is priced at $14,796.

Living in Romulus, MI

Romulus, MI, is a thriving city known for its rich history and convenient location near Detroit. It offers a mix of suburban life with urban amenities, excellent schools, and beautiful parks. It is an ideal place for families and professionals alike, set in a community-oriented atmosphere.

Current Market Conditions in Romulus, MI

The real estate market in Romulus has seen steady growth over the past year, driven by increased demand and limited housing inventory. Prices for homes have steadily increased as more buyers recognize the value and affordability of the area compared to neighboring cities. The demand for single-family homes is notably strong, leading to a competitive market.

As of the last month, the Romulus real estate market has shown signs of blurring trends with a slight increase in listings but maintaining a sellers' market dynamic. Many homes are selling quickly, often above their asking price due to bidding wars. The current average days on market has decreased, indicating a robust interest from buyers.

Home Value Estimator For Romulus, MI

There are currently 9,528 real estate properties in Romulus, MI, with a median automated valuation model (AVM) price of $213,139.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Romulus, MI, 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 Romulus, MI, is $245,445.00, with the most expensive house in Romulus, MI, topping out at $8,127,746.00 and the cheapest home in Romulus, MI, clocking in at $14,796.00. In other words, there’s something for every potential homebuyer or savvy investor in Romulus, MI!

Rent Prices In Romulus, MI

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Romulus, MI, is on a rollercoaster ride. The average rent price in Romulus, MI, is $1,198.00. Indeed, when looking to rent in Romulus, MI, you can expect to pay as little as $540.00 or as much as $2,520.00, with the average rent median estimated to be $1,140.00. The good news is that finding an affordable and desirable property to rent in Romulus, MI -- 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.

Romulus, MI Rent To Own Homes

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