Renter percentages in Templeton have remained relatively low, fluctuating between 16% and 20% from 2013 to 2022. The average rent prices have shown some volatility during this period. In 2013, the average rent was $488, which peaked at $549 in 2014, then fluctuated before settling at $521 in 2022. Despite these fluctuations, the overall trend shows a slight increase in average rent prices. The population of Templeton has grown from 1,613 in 2010 to 1,843 in 2022, which may have contributed to the upward pressure on both home prices and rents.

In 2023 and 2024, the average home prices in Templeton continued to rise, reaching $122,933 in 2023 and slightly decreasing to $121,987 in 2024. This represents a marginal decline of 0.77% from 2023 to 2024. Simultaneously, federal interest rates increased significantly to 5.02% in 2023 and 5.33% in 2024, which may impact future homeownership trends and housing affordability in the area.

Looking ahead, based on the historical data and recent trends, we can project that average home prices in Templeton may continue to rise moderately over the next five years, potentially reaching around $135,000 by 2029. However, this growth rate may slow down compared to the rapid increase seen between 2015 and 2022. Average rent prices are likely to follow a similar trend, potentially increasing to around $575 per month by 2029, assuming steady population growth and continued demand for rental properties.

In summary, Templeton has maintained a high rate of homeownership despite fluctuations in average home prices and federal interest rates. The significant increase in home values, particularly since 2015, suggests a growing desirability of the area. While rent prices have shown some volatility, they have generally trended upward. The recent rise in interest rates may impact future housing market dynamics, potentially slowing down the rate of home price appreciation and affecting affordability for prospective homeowners in this zip code.