Renter percentages in zip code 50627 have shown an inverse relationship to homeownership rates, naturally. The renter population decreased from 28% in 2013 to 23% in 2017, before rising back to 28% in 2022. Average rent prices have demonstrated volatility during this period. In 2013, the average rent was $515, which increased to $651 by 2017, representing a 26.4% rise. However, by 2022, the average rent had slightly decreased to $633, showing a 2.8% decline from its peak in 2017.

Looking at more recent data, the average home prices in zip code 50627 continued their upward trajectory in 2023 and 2024, reaching $113,788 and $123,149 respectively. This represents a further 14.5% increase from 2022 to 2024. Concurrently, federal interest rates have risen significantly, reaching 5.02% in 2023 and 5.33% in 2024. These higher interest rates could potentially impact future homeownership rates and property values in the area.

Applying predictive models to forecast 5-year trends, we anticipate that average home prices in zip code 50627 will continue to rise, albeit at a potentially slower rate due to higher interest rates. We project average home prices could reach approximately $145,000 to $155,000 by 2029. For average rent prices, we expect a moderate increase, potentially reaching $700 to $750 per month by 2029, assuming steady population growth and economic stability in the area.

In summary, zip code 50627 has demonstrated resilience in homeownership rates despite fluctuations in average home prices and rent values. The area has seen significant appreciation in property values, particularly from 2016 onwards. While renter percentages have remained relatively stable, rent prices have shown some volatility. The recent sharp increase in interest rates, coupled with rising home prices, may present new challenges and opportunities for both homeowners and renters in this Iowa community in the coming years.