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East End, Arkansas Zip Code 72065: Rising Home Values and Shifting Ownership Trends
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
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Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
Zip code 72065, located in East End, Arkansas, has experienced notable shifts in homeownership rates and housing prices over the past decade. This area has seen a general trend of increasing average home prices and fluctuating homeownership rates, reflecting the dynamic nature of its real estate market.
The homeownership rate in this zip code has shown some variability over the years. In 2013, 79% of residents were homeowners. This rate increased to 85% by 2019, representing a significant growth in homeownership. However, there was a notable decline to 73% in 2022, indicating a shift in the housing market dynamics. Concurrently, average home prices have shown a steady upward trend. In 2013, the average home price was $158,217, which increased to $187,655 by 2019, and further jumped to $236,753 in 2022. This represents a substantial 49.6% increase in average home prices over this nine-year period.
Federal interest rates have played a role in shaping homeownership trends in zip code 72065. The period from 2013 to 2016 saw historically low interest rates, hovering around 0.1% to 0.4%. During this time, homeownership rates remained relatively stable, ranging from 76% to 80%. As interest rates began to rise from 2017 (1%) to 2019 (2.16%), homeownership rates actually increased, reaching a peak of 85% in 2019. This suggests that other local factors may have had a stronger influence on homeownership than interest rates during this period.
Renter percentages and average rent prices in zip code 72065 have shown interesting trends. The percentage of renters decreased from 21% in 2013 to 15% in 2019, before increasing to 27% in 2022. Average rent prices have fluctuated over this period. In 2013, the average rent was $844, which decreased to $769 in 2017, before rising again to $857 in 2022. The population of the area has generally increased, from 4,573 in 2013 to 5,630 in 2022, which may have contributed to the recent uptick in both rental demand and prices.
Looking at the most recent data, average home prices in zip code 72065 reached $232,613 in 2023 and slightly decreased to $231,849 in 2024. This represents a minor 0.3% decline from 2023 to 2024, indicating a potential stabilization in the housing market. Concurrently, federal interest rates have risen significantly, reaching 5.02% in 2023 and 5.33% in 2024, which could impact future homebuying activity in the area.
Applying predictive models to forecast 5-year trends, we anticipate that average home prices in zip code 72065 will continue to increase, albeit at a more moderate pace. By 2029, average home prices could potentially reach around $260,000 to $270,000, assuming current economic conditions persist. Average rent prices are also expected to rise, potentially reaching $950 to $1,000 per month by 2029, driven by population growth and housing demand in the area.
In summary, zip code 72065 has experienced significant growth in average home prices over the past decade, with a recent slight cooling in 2023-2024. Homeownership rates have fluctuated, showing sensitivity to both local market conditions and broader economic factors. The rental market has seen recent growth, with increasing renter percentages and rising average rents. These trends, combined with population growth and changing interest rates, paint a picture of a dynamic and evolving real estate market in this Arkansas community.
