Renter percentages in Chadron have fluctuated inversely to homeownership rates, peaking at 49% in 2016 and settling at 43% in 2022. Average rent prices have shown volatility over the years. In 2013, the average rent was $744, which dropped to $541 in 2015 before surging to $918 in 2017. Since then, there has been a general downward trend, with the average rent in 2022 at $742. This volatility in rent prices could be influenced by the changing student population at Chadron State College and the overall population decline from 6,373 in 2013 to 5,741 in 2022.

Looking at the most recent data, average home prices in Chadron continued to rise, reaching $179,776 in 2023 and $183,547 in 2024. This upward trend persists despite the significant increase in federal interest rates, which stood at 5.02% in 2023 and 5.33% in 2024. This suggests a strong local housing market that has remained resilient in the face of higher borrowing costs.

Applying predictive models to forecast 5-year trends, we can expect average home prices in Chadron to continue their upward trajectory, potentially reaching around $200,000 by 2029. Rent prices may stabilize or show modest increases, possibly reaching an average of $800-$850 per month in the same timeframe, assuming the current economic conditions and population trends persist.

In summary, Chadron has demonstrated a resilient housing market with steadily increasing average home prices despite population decline. The homeownership rate has recovered from its 2016 low, showing the city's ability to attract and retain homeowners. The rental market has shown more volatility, likely influenced by the student population and overall demographic shifts. As Chadron moves forward, the continued rise in home values coupled with stabilizing ownership rates suggests a balanced and potentially attractive market for both homeowners and investors.