Renter percentages in zip code 64746 have shown slight variations, generally ranging between 15% and 21% of the population. The average rent prices have seen a moderate increase over time. In 2013, the average rent was $877, which increased to $910 by 2022, representing a 3.8% rise. Interestingly, the highest average rent was recorded in 2018 at $935, despite a lower population density that year compared to the surrounding years.

Looking at the most recent data, the average home price in zip code 64746 continued to rise, reaching $272,701 in 2023 and further increasing to $278,946 in 2024. This represents a 3.5% increase from 2022 to 2024. Concurrently, federal interest rates have significantly increased, reaching 5.02% in 2023 and 5.33% in 2024, which are the highest rates since 2007.

Applying predictive models to forecast 5-year trends, we anticipate that average home prices in zip code 64746 will continue to rise, albeit at a potentially slower rate due to the higher interest rate environment. We might expect average home prices to reach approximately $300,000 to $320,000 by 2029. Average rent prices are likely to follow a similar upward trajectory, potentially reaching around $950 to $1,000 by 2029, assuming current trends continue.

In summary, zip code 64746 in Freeman, Missouri, demonstrates a strong preference for homeownership, with rates consistently above 80%. The area has experienced significant appreciation in average home values, nearly doubling over the past decade. Rent prices have shown more moderate increases. Despite fluctuations in population and changes in the broader economic environment, including interest rate variations, the housing market in this zip code has remained relatively stable with a clear trend towards increasing property values.