Renter percentages in zip code 13036 have remained relatively stable, ranging from 21% to 24% between 2013 and 2022. Average rent prices have shown some fluctuation during this period. In 2013, the average rent was $904, which increased to a peak of $957 in 2014 before experiencing some volatility. By 2022, the average rent stood at $910, representing only a modest increase of 0.66% over the decade. This relatively flat trend in rent prices, coupled with the area's stable population (8,733 in 2022), suggests a balanced rental market without significant pressure on rental rates.

In 2023 and 2024, the housing market in zip code 13036 continued its upward trajectory. The average home price reached $213,387 in 2023 and further increased to $223,136 in 2024, representing a 5.5% year-over-year growth. This rise occurred despite a significant increase in federal interest rates, which stood at 5.02% in 2023 and 5.33% in 2024. These higher interest rates, however, do not appear to have substantially dampened home price growth in the area.

Looking ahead, based on the observed trends, we can forecast continued growth in average home prices for zip code 13036 over the next five years. Assuming a similar growth rate to recent years, average home prices could potentially reach around $270,000 by 2029. Rent prices, which have shown less consistent growth, may see more modest increases, potentially reaching an average of $950 to $1,000 per month in the same timeframe.

In summary, zip code 13036 demonstrates a robust and stable housing market characterized by high homeownership rates and steadily increasing property values. The area has shown resilience to interest rate fluctuations, maintaining strong home price growth even in the face of recent rate increases. While the rental market has remained relatively stable, the continued appreciation of home values suggests a strong local economy and sustained demand for housing in this Central Square area.