Loading Content...
Kidder, Missouri: Rising Home Values and High Ownership Rates in a Small Community
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
Loading Content...
Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
Kidder, Missouri, is a small community with a population that has fluctuated over the years, reaching 687 residents in 2022. This charming city has experienced significant changes in homeownership rates and housing prices over the past decade, reflecting broader economic trends and local dynamics.
The homeownership rate in Kidder has remained consistently high, demonstrating a strong preference for owning rather than renting among residents. In 2013, the homeownership rate stood at 87%, and it increased to 95% by 2015. This high rate of ownership has persisted, with only slight fluctuations, reaching 88% in 2022. Concurrently, average home prices in the city have shown a steady upward trend. In 2010, the average home price was $99,559, which more than doubled to $254,739 by 2022. This substantial increase in home values, coupled with the consistently high homeownership rates, suggests a robust and desirable housing market in Kidder.
Federal interest rates have played a significant role in shaping homeownership trends in Kidder. The period from 2010 to 2016 saw historically low interest rates, ranging from 0.1% to 0.4%. This coincided with the city's highest homeownership rates, peaking at 95% in 2015 and 2017. As interest rates began to rise more significantly from 2017 onwards, there was a slight decrease in homeownership, though it remained high at 88% in 2022. This trend aligns with the general principle that lower interest rates tend to encourage homeownership by making mortgages more affordable.
The rental market in Kidder has been relatively small but dynamic. The percentage of renters has fluctuated, reaching a low of 5% in 2015 and 2017, and increasing to 12% by 2022. Average rent prices have shown considerable volatility. In 2013, the average rent was $688, dropping significantly to $353 in 2015. However, by 2022, the average rent had increased dramatically to $1,375. This sharp increase in rent prices, coupled with the slight uptick in the renter population, suggests growing demand for rental properties in recent years.
In 2023 and 2024, Kidder continued to see growth in its housing market. The average home price reached $264,641 in 2023 and further increased to $278,034 in 2024. This represents a 9.2% increase over two years, indicating a continued strong housing market. Notably, federal interest rates also rose significantly during this period, reaching 5.02% in 2023 and 5.33% in 2024, which may impact future homeownership trends.
Looking ahead, based on historical trends and current market conditions, we can project that average home prices in Kidder will continue to rise over the next five years, albeit potentially at a more moderate pace due to higher interest rates. A conservative estimate would suggest average home prices reaching approximately $320,000 by 2029. Rent prices are also likely to continue their upward trajectory, potentially stabilizing around $1,600 to $1,800 per month, assuming continued demand for rental properties.
In summary, Kidder has maintained a strong homeownership culture despite rising home prices, with a recent trend towards a slightly larger rental market. The city's housing market has shown remarkable resilience and growth, with average home prices more than doubling since 2010. The interplay between federal interest rates, homeownership rates, and housing prices will continue to shape the city's real estate landscape in the coming years.
