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Home Values and Ownership in Loudon: A Decade of Resilient Real Estate Trends
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
Loading Content...
Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
Loudon, located in New Hampshire, is a small community with a rich history and a dynamic real estate market. Over the past decade, this charming town has experienced significant changes in homeownership rates, average home prices, and average rent prices, reflecting broader economic trends and local market conditions.
Homeownership in Loudon has remained relatively stable, with slight fluctuations over the years. In 2013, the homeownership rate stood at 86%, and by 2022, it had decreased slightly to 83%. During this period, average home prices in Loudon have shown a steady upward trend. In 2013, the average home price was $204,144, and by 2022, it had risen dramatically to $414,799, representing a substantial increase of 103% over nine years.
The relationship between federal interest rates and homeownership rates in Loudon appears to follow general economic principles. For instance, when interest rates were at historic lows between 2013 and 2016 (ranging from 0.11% to 0.4%), homeownership rates remained high at 85-86%. As interest rates began to rise from 2017 onwards, there was a slight dip in homeownership rates, reaching 83% in 2018 and 2022.
Renter percentages in Loudon have shown minor fluctuations, inversely mirroring the homeownership trends. In 2013, the renter-occupied rate was 14%, and by 2022, it had increased slightly to 17%. Average rent prices have exhibited some volatility over the years. In 2013, the average rent was $1,108, which decreased to $863 in 2017 before rising again to $975 in 2022. This represents an overall decrease of 12% in average rent prices from 2013 to 2022, despite the growing population during this period.
In 2023 and 2024, Loudon's real estate market continued its upward trajectory. The average home price in 2023 reached $444,559, further climbing to $473,969 in 2024. This represents a significant 14.3% increase from 2022 to 2024. Notably, federal interest rates also saw a substantial rise, reaching 5.02% in 2023 and 5.33% in 2024, which could potentially impact future homeownership rates and market dynamics.
Looking ahead, based on historical trends and current market conditions, we can project continued growth in average home prices for Loudon over the next five years. If the current trajectory holds, average home prices could potentially reach the $550,000 to $600,000 range by 2029. Average rent prices, which have shown more volatility, may stabilize and gradually increase, potentially reaching around $1,100 to $1,200 per month in the same timeframe.
In summary, Loudon has experienced significant growth in average home prices over the past decade, with homeownership rates remaining relatively stable despite fluctuations in federal interest rates. The rental market has shown more variability, with average rent prices decreasing overall from 2013 to 2022. The recent surge in home prices and rising interest rates in 2023 and 2024 suggest a dynamic real estate market that continues to evolve, presenting both opportunities and challenges for residents and potential homebuyers in this New Hampshire community.
