Renter percentages in Green Valley showed an inverse relationship to homeownership rates, decreasing from 18% in 2013 to 12% in 2019. Interestingly, average rent prices fluctuated during this period, starting at $776 in 2013, dropping to $672 in 2014, and then gradually increasing to $749 in 2019. The population remained relatively stable during this time, hovering around 1,900 residents, suggesting that changes in rental patterns were more influenced by local economic factors than population shifts.

In 2023 and 2024, Green Valley experienced a continued upward trend in average home prices, reaching $154,552 in 2023 and $157,432 in 2024. This increase occurred despite a significant rise in federal interest rates, which jumped to 5.02% in 2023 and 5.33% in 2024. These higher interest rates typically make borrowing more expensive, yet the local housing market remained robust, indicating strong demand or limited supply in the area.

Looking ahead, predictive models suggest that average home prices in Green Valley are likely to continue their upward trajectory over the next five years, potentially reaching around $170,000 by 2029. Rent prices, which have shown more volatility, may stabilize and increase moderately, possibly approaching $900 per month in the same timeframe. These predictions assume continued economic stability and sustained demand for housing in the area.

In summary, Green Valley has demonstrated a strong trend towards homeownership over the past decade, with rising property values and a decreasing renter population. The resilience of the housing market in the face of recent interest rate hikes suggests a solid foundation for continued growth. However, the interplay between homeownership rates, property values, and economic factors will continue to shape the residential landscape of this Illinois community in the coming years.