Renter percentages in Holts Summit have remained relatively stable, with some minor fluctuations. In 2013, renters made up 19% of occupied housing units, which increased slightly to 23% in 2019, before returning to 20% in 2022. Average rent prices have shown more volatility. Starting at $979 in 2013, average rent dropped to a low of $778 in 2015, then gradually increased to $901 in 2019, before settling at $858 in 2022. These fluctuations in rent prices don't seem to correlate strongly with the relatively stable renter percentages, suggesting other factors may influence rental market dynamics in Holts Summit.

Moving to more recent data, in 2023, the average home price in Holts Summit reached $244,969, showing a slight increase from 2022. The 2024 average home price has further risen to $250,001, indicating a continuing upward trend in the housing market. Notably, federal interest rates have also increased significantly, reaching 5.02% in 2023 and 5.33% in 2024. This rise in interest rates could potentially impact future homeownership trends and housing affordability in the city.

Looking ahead, based on the historical data and current trends, we can project that average home prices in Holts Summit may continue to rise over the next five years, albeit potentially at a slower rate due to higher interest rates. Average rent prices might also see a moderate increase, especially if higher home prices and interest rates push more people towards renting. However, the exact trajectory will depend on various economic factors and local market conditions.

In summary, Holts Summit has seen a notable increase in homeownership rates and average home prices over the past decade, with some fluctuations in the rental market. The recent rise in interest rates, coupled with consistently increasing home prices, may reshape the city's housing landscape in the coming years, potentially affecting affordability and the balance between homeownership and renting.