Tulare County in Top 10 for Lease Option Housing in State

JustRentToOwn.com, a leading provider of lease option, also known as rent-to-own (RTO), home listings nationwide, announced the release of a report highlighting the most promising markets in California for lease option housing in the upcoming year. Using data compiled by the California Association of Realtors and U.S. Census data, the study compiled a list of counties with high percentage of short sales, strong appreciation in home values, and optimal vacancy rates to justify a rent-to-own friendly environment.

Tulare County placed ninth on the list, mainly as a result of its “budget-friendly” home price average of $184,440.

The study employed a custom RTO Opportunity Index (RTOOI) developed around key indicators in real estate markets that will make RTO appealing to sellers. The survey resulted in a diverse selection of top ten counties from across the state with Lake County topping the list with an RTOOI of 235, Monterey 163, Riverside and Merced sharing the 3rd spot with 115, Madera with 110, Kern 105, Solano and San Bernardino with 104, Tulare 92, and Sacramento with 87.

The results touched on a variety of different markets, from budget areas to the mid-to-high priced, and also included coastal, inland, urban and rural communities. This suggests, in conjunction with cooling housing prices and looser mortgage regulations, that the market for rent-to-own in 2015 will be strong in various places throughout the state.

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