Renter percentages in Gleason have inversely mirrored the homeownership trends, decreasing from 29% in 2013 to 23% in 2022. Despite this decline in the renter population, average rent prices have shown an overall upward trend. In 2013, the average rent was $551, which increased to $641 by 2022, representing a 16% rise. However, this increase was not consistent, with some fluctuations observed. For instance, there was a notable drop in average rent from $637 in 2018 to $555 in 2019, before it began rising again.

In 2023 and 2024, Gleason's housing market continued to evolve. The average home price reached $140,975 in 2023 and further increased to $148,417 in 2024, marking a 5.3% year-over-year growth. This rise occurred despite a significant increase in federal interest rates, which jumped from 5.02% in 2023 to 5.33% in 2024, potentially impacting affordability for new homebuyers.

Looking ahead, based on the historical trends and recent data, we can project continued growth in average home prices for Gleason over the next five years. If the current trajectory persists, average home prices could potentially reach around $175,000 to $185,000 by 2029. Average rent prices may also continue to rise, albeit at a more moderate pace, potentially reaching $700 to $750 per month in the same timeframe.

In summary, Gleason has experienced a notable increase in homeownership rates and average home prices over the past decade, with a corresponding decrease in the renter population. Despite fluctuations, average rent prices have also trended upward. The recent sharp rise in interest rates may influence future homeownership trends, but the housing market in Gleason has shown resilience and continued growth even in the face of these changes.