The renter population in Adams has remained relatively small, with the percentage of renters decreasing from 22% in 2014 to 16% in 2022. Average rent prices have shown some fluctuation, dropping from $850 in 2014 to a low of $744 in 2017, before rising to $1,039 in 2022. This represents a 22% increase in average rent from 2014 to 2022, which is significantly less than the increase in average home prices over the same period. The smaller renter population and moderate rent increases may reflect a preference for homeownership in the community or limited rental inventory.

In 2023, the average home price in Adams reached $416,101, with federal interest rates at 5.02%. Moving into 2024, the average home price further increased to $428,022, while interest rates rose slightly to 5.33%. These figures indicate a continued upward trend in home values, despite higher interest rates which typically make borrowing more expensive for potential homebuyers.

Looking ahead, predictive models suggest that average home prices in Adams may continue to rise over the next five years, potentially reaching around $500,000 by 2029 if current trends persist. Average rent prices are also expected to increase, possibly surpassing $1,200 per month within the same timeframe. However, these projections assume that current economic conditions and local market factors remain relatively stable.

In summary, Adams has maintained a strong homeownership market despite rising home prices, with a slight decrease in the renter population over time. The community has shown resilience in the face of increasing interest rates, suggesting that local factors play a significant role in housing decisions. The continued rise in both home prices and rents indicates a robust demand for housing in the area, which is likely to persist in the coming years.