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De Pere Home Values Soar: A Decade of Growth Along the Fox River
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
Loading Content...
Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
De Pere, Wisconsin, a charming city in Brown County, has experienced significant changes in its housing market over the past decade. Known for its rich history and vibrant community, De Pere has seen notable shifts in homeownership rates and housing costs, reflecting broader economic trends and local developments.
The homeownership rate in De Pere has shown resilience and slight growth in recent years. From 63% in 2013, it remained relatively stable until reaching 64% in 2021 and further increasing to 66% in 2022. This trend coincides with a substantial increase in average home prices. The average home price in De Pere nearly doubled from $163,613 in 2013 to $323,531 in 2022, representing a 97.7% increase over this period.
The relationship between federal interest rates and homeownership rates in De Pere shows some correlation. As interest rates remained low between 2013 and 2021, ranging from 0.08% to 1.68%, homeownership rates maintained stability and even saw slight increases. The significant jump in homeownership from 62% in 2020 to 66% in 2022 occurred despite a rise in interest rates, suggesting other local factors may have played a role in this increase.
Renter percentages in De Pere have fluctuated slightly over the years, with a general trend of decrease from 2016 to 2022. In 2016, 39% of housing units were renter-occupied, which decreased to 34% by 2022. Average rent prices have shown moderate volatility during this period. From $909 in 2013, rent rose to a peak of $1,014 in 2021 before decreasing to $922 in 2022. This represents a modest overall increase of 1.4% from 2013 to 2022, despite the fluctuations in between. The population growth from 27,927 in 2013 to 29,599 in 2022 may have contributed to the overall upward pressure on rent prices, despite the recent decrease.
In 2023, the average home price in De Pere reached $344,962, showing continued appreciation in the housing market. This trend continued into 2024, with average home prices rising further to $361,681. Concurrently, federal interest rates increased significantly, reaching 5.02% in 2023 and 5.33% in 2024. These higher interest rates may impact future homeownership trends and affordability in the city.
Looking ahead, predictive models suggest that average home prices in De Pere are likely to continue their upward trajectory over the next five years, albeit potentially at a slower rate due to higher interest rates. Average rent prices are expected to stabilize and potentially see moderate increases, influenced by the city's steady population growth and the balance between rental and ownership demand.
In summary, De Pere has experienced a notable increase in homeownership rates and substantial growth in average home prices over the past decade. Despite fluctuations, rental rates have remained relatively stable with modest price increases. The city's housing market has shown resilience and growth, reflecting its attractiveness as a residential area. Future trends will likely be shaped by the interplay between continued housing demand, economic conditions, and interest rate movements.
