Renter occupancy data for zip code 28524 is limited, with available figures only for recent years. In 2020, the renter-occupied percentage was 4%, increasing to 6% in 2021, and then significantly jumping to 19% in 2022. This recent shift towards more renters coincides with a slight decrease in the homeownership rate from 94% in 2021 to 81% in 2022. Average rent prices have fluctuated over the years, with the highest recorded average rent of $1,094 in 2016 and the most recent figure of $642 in 2022. The population has also seen a decline from 85 in 2010 to 33 in 2022, which may influence the rental market dynamics.

Looking at the most recent data, the average home price in zip code 28524 continued its upward trend, reaching $218,537 in 2023 and further increasing to $222,841 in 2024. This represents a 5.9% increase from 2022 to 2024. Concurrently, federal interest rates have risen significantly, from 1.68% in 2022 to 5.02% in 2023, and 5.33% in 2024. These higher interest rates may impact future homeownership trends and housing affordability in the area.

Applying predictive models to forecast 5-year trends, we anticipate that average home prices in zip code 28524 will continue to rise, albeit at a more moderate pace due to the current higher interest rate environment. We project the average home price could reach approximately $250,000 by 2029. For rent prices, given the recent increase in renter occupancy and the area's declining population, we expect average rents to stabilize around $700-$750 per month over the next five years.

In summary, zip code 28524 has maintained a strong homeownership market despite population decline, with average home prices showing significant appreciation. The recent shift towards more renters and the current high-interest rate environment may reshape the local housing market dynamics in the coming years. The area's small population and coastal location likely contribute to its unique real estate trends, making it an interesting market to watch.