The renter percentage in zip code 47639 has increased from 10% in 2013 to 15% in 2022. Interestingly, average rent prices have not shown a consistent upward trend during this period. The average rent peaked at $890 in 2018 but has since decreased to $743 in 2022. This fluctuation in rent prices, coupled with the increasing renter population, suggests a complex rental market dynamic possibly influenced by factors such as local economic conditions and housing supply.

Looking at the most recent data, the average home price in zip code 47639 reached $288,682 in 2023 and further increased to $296,533 in 2024. This represents a continued upward trend in property values. Concurrently, federal interest rates have risen significantly, reaching 5.02% in 2023 and 5.33% in 2024, which may impact future homeownership rates and housing market dynamics in the area.

Applying predictive models to forecast 5-year trends, we anticipate that average home prices in zip code 47639 will continue to rise, potentially reaching around $350,000 by 2029. This projection is based on the consistent upward trend observed over the past decade. For average rent prices, the forecast suggests a more moderate increase, potentially reaching approximately $850 per month by 2029, assuming the market stabilizes and aligns with overall housing value appreciation.

In summary, zip code 47639 has experienced a gradual shift towards increased renting, though homeownership remains predominant. Average home prices have shown substantial growth, while rent prices have fluctuated. The recent sharp increase in interest rates may influence future homeownership trends. As the area continues to evolve, it will be important to monitor how these housing market dynamics impact the local community and economy.