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Average Home Values and Ownership in University City, Missouri Zip Code 63130: A Decade of Resilience
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
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Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
University City, Missouri, zip code 63130, is a vibrant area with a dynamic real estate market. Over the past decade, this community has experienced notable shifts in homeownership rates and housing prices, reflecting broader economic trends and local market conditions. The homeownership rate in zip code 63130 has shown some fluctuation over the years. In 2013, 62% of housing units were owner-occupied. This percentage decreased to 56% by 2019, indicating a trend towards more renting. However, there was a reversal in recent years, with homeownership rising to 63% in 2022. This change coincided with significant increases in average home prices. In 2013, the average home price was $161,741, which steadily rose to $248,456 by 2022, representing a substantial 53.6% increase over nine years.
The relationship between federal interest rates and homeownership rates in this zip code shows some interesting patterns. During periods of low interest rates, such as 2013-2016 when rates were below 0.5%, homeownership initially declined. However, as interest rates began to rise from 2017 onwards, reaching 1.68% in 2022, homeownership rates in the area actually increased. This suggests that local factors may have played a more significant role in homeownership trends than national interest rates alone.
Renter percentages in zip code 63130 have also fluctuated, generally moving inversely to homeownership rates. The percentage of renters increased from 38% in 2013 to a peak of 44% in 2019, before declining to 37% in 2022. Average rent prices have shown a general upward trend, rising from $1,144 in 2013 to $1,389 in 2022, a 21.4% increase. Notably, there was a significant jump in average rent to $1,514 in 2021, which then decreased in 2022, possibly due to changes in housing demand or local economic factors.
In 2023 and 2024, the real estate market in zip code 63130 continued to evolve. The average home price reached $254,074 in 2023 and further increased to $257,861 in 2024, showing continued growth in property values. Concurrently, federal interest rates rose significantly to 5.02% in 2023 and 5.33% in 2024, potentially impacting homebuying decisions in the area.
Looking ahead, predictive models suggest that average home prices in zip code 63130 may continue to rise over the next five years, albeit at a potentially slower rate due to higher interest rates. Average rent prices are also expected to increase, driven by ongoing demand for rental properties in the area. However, the rate of increase might moderate as the market adjusts to economic conditions and housing supply changes.
In summary, zip code 63130 has experienced significant changes in its real estate landscape. The area has seen a recent trend towards increased homeownership, despite rising home prices and interest rates. Rent prices have also increased overall, though with some fluctuations. These trends reflect the complex interplay of local market dynamics, national economic factors, and changing resident preferences in University City, Missouri.
