The rental market in Pine Hill has shown inverse trends to homeownership, with renter percentages ranging from 11% to 21% between 2013 and 2022. Average rent prices have exhibited considerable volatility, increasing from $356 in 2013 to $838 in 2020, a 135% rise. This upward trend continued, with average rent reaching $955 in 2022, a further 14% increase from 2020. These substantial increases in rent prices occurred despite a relatively small population change, from 106 residents in 2013 to 148 in 2022.

In recent years, the housing market in Pine Hill has continued to evolve. Average home prices reached $373,685 in 2023 and $384,735 in 2024, representing year-over-year increases of 3.4% and 3.0%, respectively. Concurrently, federal interest rates rose significantly to 5.02% in 2023 and 5.33% in 2024, marking the highest rates since 2007.

Looking ahead, predictive models suggest that average home prices in Pine Hill will continue to rise over the next five years, albeit at a more moderate pace. Projections indicate that average home prices may reach approximately $450,000 by 2029. Similarly, average rent prices are expected to increase, potentially surpassing $1,200 per month within the same timeframe.

In conclusion, Pine Hill has demonstrated a resilient housing market characterized by substantial increases in both average home prices and rent prices over the past decade. The area has maintained a high homeownership rate despite fluctuations in federal interest rates. However, the recent sharp increase in interest rates, combined with rising home prices, may impact future homeownership trends and affordability in this zip code.