Conversely, the percentage of renters in Glouster decreased from 33% in 2013 to 29% in 2022. Despite this decline in the renter population, average rent prices showed an overall upward trend. In 2013, the average rent was $662, which increased to $743 by 2022, representing a 12.2% rise. This increase in average rent prices occurred even as the village's population fluctuated, peaking at 2,718 in 2019 before declining to 2,180 in 2022.

In 2023 and 2024, Glouster experienced continued growth in average home prices. The average home price reached $56,607 in 2023 and further increased to $61,118 in 2024, marking a 14% rise from 2022 to 2024. This growth occurred despite a significant increase in federal interest rates, which rose to 5.02% in 2023 and 5.33% in 2024.

Looking ahead, based on the historical data and recent trends, we can forecast the following 5-year trends for Glouster: Average home prices are likely to continue their upward trajectory, potentially reaching around $75,000 by 2029, assuming a similar growth rate to recent years. Average rent prices may also continue to rise, albeit at a slower pace than home prices. We might expect average rents to approach $800-$850 per month by 2029. Homeownership rates could stabilize or slightly decrease if interest rates remain high, potentially settling around 68-70% by 2029.

In summary, Glouster has experienced a significant increase in homeownership rates and average home prices over the past decade, despite fluctuations in population. The village's housing market has shown resilience, with continued growth in home values even in the face of rising interest rates. The rental market, while shrinking in terms of percentage, has seen modest increases in average rent prices. These trends suggest a robust local housing market with potential for continued growth in property values in the coming years.