Regarding rental trends, the percentage of renters in Rocky Comfort has shown inverse patterns to homeownership rates. In 2013, the renter-occupied rate was 18%, which decreased to 12% in 2016 as homeownership peaked. However, there was a significant increase in renters to 29% in 2018, coinciding with the drop in homeownership. The average rent prices have generally increased over time, rising from $528 in 2013 to $617 in 2018, and then slightly decreasing to $590 in 2022. These changes in rental rates and prices may be influenced by factors such as local economic conditions and housing supply.

As of 2023 and 2024, we have seen significant changes in both average home prices and interest rates. The average home price in Rocky Comfort reached $218,947 in 2023 and further increased to $222,437 in 2024. Concurrently, federal interest rates have risen dramatically, reaching 5.02% in 2023 and 5.33% in 2024. These higher interest rates may impact affordability and potentially influence future homeownership rates in the area.

Looking ahead to the next five years, based on current trends and economic indicators, we can expect average home prices in Rocky Comfort to continue their upward trajectory, albeit at a potentially slower pace due to higher interest rates. Average rent prices are likely to follow a similar pattern, with moderate increases expected as demand for rental properties may rise if homeownership becomes less attainable due to higher mortgage rates.

In summary, Rocky Comfort has maintained a relatively high homeownership rate despite fluctuations in the housing market. The community has seen a general increase in both home values and rent prices over the past decade. The recent spike in interest rates, coupled with rising home prices, may present challenges for potential homebuyers in the coming years, potentially leading to a shift in the balance between homeownership and renting in this Missouri community.