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Hi-Pointe: Rising Home Values and Stable Ownership in a Resilient St. Louis Neighborhood
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
Loading Content...
Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
Hi-Pointe, a vibrant neighborhood in St. Louis, Missouri, has experienced significant changes in its housing market over the past decade. Known for its diverse mix of residential and commercial areas, Hi-Pointe has seen a general trend of increasing average home prices while maintaining relatively stable homeownership rates. This analysis examines the relationship between homeownership percentages and average home prices, revealing an interesting dynamic in the neighborhood.
The data shows that in 2013, when the homeownership rate was 46%, the average home price in Hi-Pointe was $110,999. As home prices increased to $151,384 in 2018, the homeownership rate decreased to 41%. However, by 2022, despite average home prices reaching $201,251, the homeownership rate rebounded to 46%. This suggests that factors beyond just home prices influence homeownership decisions in the neighborhood.
Federal interest rates have played a role in homeownership trends in Hi-Pointe. During periods of historically low interest rates between 2013 and 2016 (ranging from 0.11% to 0.4%), homeownership rates remained relatively stable, fluctuating between 41% and 46%. As interest rates began to rise from 2017 to 2019 (1% to 2.16%), homeownership rates initially dipped to 41% in 2018 but then increased to 44% in 2019. This indicates that while interest rates influence homeownership, local market conditions and other factors also play significant roles in homebuying decisions.
Renter percentages and average rent prices in Hi-Pointe have shown a general upward trend. In 2013, the renter-occupied rate was 54% with an average rent of $786. By 2022, the renter-occupied rate had remained stable at 54%, but the average rent had increased significantly to $1,017. The most substantial jump in average rent occurred between 2021 and 2022, rising from $933 to $1,017. This increase in rent prices, coupled with a stable renter population, suggests a strong demand for rental properties in the area.
Looking at the most recent data, average home prices in Hi-Pointe continued to rise in 2023 and 2024, reaching $209,051 and $213,882 respectively. This upward trend persists despite the significant increase in federal interest rates, which stood at 5.02% in 2023 and 5.33% in 2024. These figures indicate a robust housing market in Hi-Pointe, with home values appreciating even in the face of higher borrowing costs.
Applying predictive models to forecast 5-year trends, it is anticipated that average home prices in Hi-Pointe will continue to appreciate, albeit at a potentially slower rate due to higher interest rates. Average home prices could reach approximately $240,000 to $250,000 by 2029. For rent prices, the upward trajectory is likely to continue, potentially reaching an average of $1,200 to $1,300 per month in the next five years, assuming consistent demand and economic stability.
In summary, Hi-Pointe has demonstrated resilience in its housing market, with steadily increasing average home prices and rent values over the past decade. The neighborhood has maintained a relatively balanced mix of homeowners and renters, adapting to changing economic conditions. The continued appreciation of home values, even in a high-interest-rate environment, suggests strong underlying demand for housing in this St. Louis neighborhood. As the community moves forward, it will be important to monitor how these housing trends impact the overall character and accessibility of the neighborhood.
