Renter percentages in Inverness have remained consistently low, ranging from 8% to 11% between 2013 and 2022. The average rent prices, however, have shown significant fluctuations. In 2013, the average rent was $1,711, which increased to $1,754 in 2014. After a period of relative stability, average rent prices saw a substantial jump to $2,205 in 2018, followed by a decrease to $1,863 in 2019. By 2022, the average rent had risen again to $2,298, representing a 34.3% increase from 2013 levels. These rent price changes occurred despite relatively stable renter percentages, suggesting that factors such as housing quality and local market conditions may be driving rent increases rather than changes in demand.

In 2023 and 2024, Inverness continued to see growth in its real estate market. The average home price reached $679,520 in 2023 and further increased to $705,756 in 2024, representing a 7.4% increase over two years. This growth occurred despite rising federal interest rates, which reached 5.02% in 2023 and 5.33% in 2024, indicating strong local demand for housing in the village.

Looking ahead, predictive models suggest that average home prices in Inverness are likely to continue their upward trajectory over the next five years. Based on historical trends and current market conditions, average home prices could potentially reach or exceed $800,000 by 2029. Average rent prices are also expected to increase, albeit at a more moderate pace, potentially reaching around $2,600 to $2,800 per month by 2029.

In summary, Inverness has demonstrated a resilient and growing real estate market characterized by high homeownership rates, increasing average home prices, and rising average rents. The village's ability to maintain high homeownership levels despite fluctuations in the broader economy and interest rates suggests a strong local housing market. The recent surge in both home prices and rents, coupled with projected future increases, indicates continued demand for housing in this affluent Illinois community.