The rental market in zip code 37886 has shown interesting trends. The percentage of renters has fluctuated between 14% and 19% from 2013 to 2022. Average rent prices have been volatile, with notable changes year-over-year. In 2013, the average rent was $836, which decreased to $653 by 2017, before rising again to $913 in 2021. Interestingly, 2022 saw a drop in average rent to $768, despite the area's growing population, which increased from 3,968 in 2010 to 5,144 in 2022.

In 2023 and 2024, the housing market in zip code 37886 continued its upward trajectory. The average home price reached $383,060 in 2023 and further increased to $395,679 in 2024. This represents a 9.7% increase from 2022 to 2024. Simultaneously, federal interest rates rose significantly, reaching 5.02% in 2023 and 5.33% in 2024, potentially impacting homebuying decisions in the area.

Looking ahead, based on historical trends and current market conditions, we can expect the average home prices in zip code 37886 to continue rising over the next five years, albeit at a potentially slower rate due to higher interest rates. If the current trend continues, average home prices could reach approximately $450,000 by 2029. Average rent prices, which have shown more volatility, are likely to stabilize and increase moderately, potentially reaching around $1,000 per month by 2029.

In summary, zip code 37886 has demonstrated a strong housing market characterized by high homeownership rates and steadily increasing average home prices. The area has maintained its appeal to homeowners despite fluctuations in the rental market and rising interest rates. The continued population growth and consistent demand for owner-occupied housing suggest a positive outlook for the local real estate market in the coming years.