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Dardenne Prairie, Missouri: Soaring Home Values Amidst Stable Ownership
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
Loading Content...
Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
Dardenne Prairie, a city in Missouri's St. Charles County, has experienced significant growth and changes in its housing market over the past decade. This suburban community has maintained high homeownership rates while seeing substantial increases in average home prices, reflecting broader economic trends and local market dynamics.
The homeownership rate in Dardenne Prairie has remained relatively stable, with a slight increase from 80% in 2013 to 81% in 2021, indicating a strong preference for property ownership among residents. Concurrently, average home prices have shown a steady upward trajectory, rising from $254,500 in 2010 to $429,121 in 2022, representing a substantial 68.6% growth over 12 years.
The relationship between federal interest rates and homeownership rates in Dardenne Prairie follows a well-established pattern. From 2010 to 2020, interest rates remained historically low, ranging between 0.08% and 2.16%. This period of low interest rates coincided with the city's high homeownership rates, as favorable financing conditions made purchasing homes more accessible. The stability in homeownership rates during this period suggests that the low-interest environment supported sustained home buying activity in the area.
Renter percentages in Dardenne Prairie have shown minor fluctuations, ranging from 18% to 21% between 2013 and 2022. The average rent prices have demonstrated a general upward trend, albeit with some variability. In 2013, the average rent was $1,283, which increased to $1,729 by 2022, marking a 34.8% rise over nine years. This increase in rent prices occurred alongside population growth, with the city's population rising from 27,352 in 2010 to 30,137 in 2022, potentially contributing to increased demand for rental properties.
As of 2024, the average home price in Dardenne Prairie stands at $453,854, showing continued appreciation from the 2022 figure. This represents a 5.8% increase from the 2023 average of $443,195. The current federal interest rate in 2024 is 5.33%, which is significantly higher than the rates observed during the previous decade. This elevated interest rate environment may impact future homebuying trends in the city.
Looking ahead, predictive models suggest that average home prices in Dardenne Prairie will continue to rise over the next five years, albeit at a potentially slower pace due to higher interest rates. Average rent prices are also expected to increase, driven by population growth and the overall appreciation of the local real estate market. However, the rate of increase may moderate as the market adjusts to changing economic conditions.
In summary, Dardenne Prairie has demonstrated a robust housing market characterized by high homeownership rates and steadily increasing property values. The city has maintained a strong preference for homeownership despite rising home prices, likely supported by historically low interest rates until recently. The rental market, while smaller, has also seen consistent growth in prices. As the city continues to evolve, the interplay between homeownership rates, property values, and rental prices will be crucial in shaping the future of Dardenne Prairie's housing landscape.
