As homeownership rates decreased, the percentage of renters in Dresden increased from 18% in 2015 to 33% in 2022. Average rent prices fluctuated during this period, peaking at $618 in 2019 before slightly decreasing to $619 in 2022. The population of Dresden also varied, reaching a high of 5,936 in 2016 before settling at 5,210 in 2022. These changes in population and rental demand likely contributed to the variations in average rent prices.

The average home price in Dresden continued to rise, reaching $153,359 in 2023 and $159,493 in 2024. This represents a further 8.5% increase from 2022 to 2024. Concurrently, federal interest rates have increased significantly, rising to 5.02% in 2023 and 5.33% in 2024. These higher interest rates may impact future homeownership trends in Dresden.

Applying predictive models to forecast 5-year trends, average home prices in Dresden are anticipated to continue rising, potentially reaching around $185,000 by 2029. This projection is based on the consistent upward trend observed over the past decade. For average rent prices, a more moderate increase is expected, potentially reaching approximately $675 by 2029, assuming steady population growth and continued demand for rental properties.

In summary, Dresden has experienced a notable shift in its housing market dynamics over the past decade. The decline in homeownership rates coupled with rising home prices suggests a changing landscape for residents. The recent sharp increase in federal interest rates may further impact homeownership trends. As the town continues to evolve, these housing market trends will likely play a crucial role in shaping Dresden's community and economic development in the coming years.