Conversely, the renter population in Terra Bella has experienced a decline, dropping from 43% in 2013 to 32% in 2020, before increasing slightly to 42% in 2022. Despite this overall decrease in the renter population, average rent prices have shown a general upward trend. Average rent rose from $614 in 2013 to $891 in 2021, representing a 45% increase. However, there was a slight decrease to $783 in 2022. These rent price fluctuations appear to be influenced by the area's changing population, which peaked at 5,659 in 2016 and decreased to 5,209 by 2022.

Looking at the most recent data, average home prices in zip code 93270 continued to rise in 2023, reaching $329,236, and further increased to $335,546 in 2024. This upward trend has persisted despite the significant increase in federal interest rates, which rose to 5.02% in 2023 and 5.33% in 2024. These higher interest rates may impact future homeownership rates and housing market dynamics in the area.

Applying predictive models to forecast 5-year trends, we anticipate that average home prices in zip code 93270 will continue to rise, albeit at a slower pace due to the higher interest rate environment. We project average home prices could reach approximately $375,000 by 2029. For average rent prices, we expect a moderate increase, potentially reaching around $950 per month by 2029, assuming stable population growth and economic conditions.

In summary, zip code 93270 has experienced significant changes in its housing market over the past decade. The area has seen a general trend towards increased homeownership, substantial growth in average home prices, and fluctuating but overall increasing average rent prices. These trends have been influenced by factors such as federal interest rates, population changes, and broader economic conditions. As we look to the future, the interplay between these factors will continue to shape the housing market in this California community.