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Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
Brodheadsville, Pennsylvania, a charming community in the Pocono Mountains region, has experienced significant changes in its housing market over the past decade. This small but growing town has seen a general trend of increasing homeownership rates and rising average home prices, while average rent prices have fluctuated. The homeownership rate in Brodheadsville has shown a notable upward trend, particularly in recent years. In 2013, the homeownership rate was 82%, which declined to 76% in 2015. However, since then, there has been a steady increase, reaching 86% in 2022. This rise in homeownership coincides with a substantial increase in average home prices. In 2013, the average home price was $172,190, and by 2022, it had risen to $315,050, representing a remarkable 83% increase over nine years.
Federal interest rates have played a significant role in shaping homeownership trends in Brodheadsville. From 2013 to 2020, interest rates remained relatively low, ranging from 0.09% to 2.16%. This period of low interest rates corresponded with the overall increase in homeownership rates, as more affordable financing options likely encouraged home purchases. The homeownership rate rose from 82% in 2013 to 81% in 2020, despite some fluctuations in between.
Renter percentages in Brodheadsville have generally decreased as homeownership rates increased. In 2013, the renter percentage was 18%, which peaked at 24% in 2015 before declining to 14% in 2022. Average rent prices have shown some volatility during this period. In 2013, the average rent was $1,103, which decreased to $960 in 2016 before rising again to $1,018 in 2022. The population growth from 3,528 in 2013 to 4,441 in 2022 may have contributed to the overall upward pressure on both home prices and rents.
As of 2024, the average home price in Brodheadsville has reached $331,110, continuing the upward trend observed in previous years. The federal interest rate has also increased significantly to 5.33% in 2024, up from 5.02% in 2023. This higher interest rate environment may impact future homeownership trends and housing affordability in the area.
Looking ahead, based on the historical data and current trends, it's projected that average home prices in Brodheadsville will continue to rise over the next five years, potentially reaching around $400,000 by 2029. Average rent prices are also expected to increase, albeit at a slower pace, potentially reaching approximately $1,200 per month in the same timeframe. These projections assume continued population growth and economic stability in the region.
In summary, Brodheadsville has experienced a significant increase in homeownership rates and average home prices over the past decade. The community has seen a steady population growth, which has likely contributed to the rising housing costs. While renter percentages have decreased, average rent prices have shown some fluctuation. The recent rise in interest rates may influence future housing market dynamics, potentially affecting affordability and homeownership trends in the coming years.