The rental market in zip code 45805 has also shown interesting trends. The percentage of renters increased from 37% in 2013 to a peak of 43% in 2017, before settling at 39% in 2022. Correspondingly, average rent prices have risen significantly. In 2013, the average rent was $738, which increased to $926 by 2021, representing a 25% increase. However, there was a slight decrease to $859 in 2022, possibly due to market adjustments or increased housing supply.

Looking at the most recent data, the average home price in zip code 45805 continued to rise, reaching $167,364 in 2023 and $172,418 in 2024. This represents a further 8% increase from 2022 to 2024. Interestingly, federal interest rates also saw a significant increase during this period, rising to 5.02% in 2023 and 5.33% in 2024. Despite these higher interest rates, home prices have continued to appreciate, suggesting strong demand in the area.

Applying predictive models to forecast 5-year trends, we can expect average home prices in zip code 45805 to continue their upward trajectory, potentially reaching around $200,000 by 2029. This projection is based on the consistent growth observed over the past decade and the area's apparent resilience to interest rate fluctuations. For average rent prices, the forecast suggests a more moderate increase, potentially reaching approximately $950-$1,000 per month by 2029, assuming steady population growth and continued demand for rental properties.

In summary, zip code 45805 has demonstrated a dynamic housing market with recovering homeownership rates, steadily increasing average home prices, and fluctuating but generally rising average rent prices. The area has shown resilience in the face of changing economic conditions, including interest rate variations. The continued appreciation of home values, even in periods of higher interest rates, suggests a robust local housing market with potential for further growth in both the ownership and rental sectors.