While homeownership has been on the rise, the percentage of renters in Landis has decreased from 23% in 2013 to 19% in 2022. Interestingly, despite this decline in the renter population, average rent prices have shown an overall upward trend. In 2013, the average rent was $773, which increased to $850 by 2022, representing a 10% rise. However, it's worth noting that rent prices peaked at $1,006 in 2017 before experiencing a slight decline in subsequent years.

Looking at the most recent data, the average home price in Landis reached $244,309 in 2023 and further increased to $255,381 in 2024. This continued upward trajectory in home prices comes despite a significant rise in federal interest rates, which stood at 5.02% in 2023 and 5.33% in 2024. These higher interest rates may impact future homeownership trends and price growth.

Applying predictive models to forecast the next five years, we anticipate that average home prices in Landis will continue to rise, albeit at a potentially slower rate due to higher interest rates. We project that by 2029, the average home price could reach approximately $300,000 to $325,000. For rent prices, we expect a moderate increase, potentially reaching an average of $950 to $1,000 per month by 2029.

In summary, Landis has experienced a notable increase in homeownership rates and a significant appreciation in average home values over the past decade. While the rental market has seen some fluctuations, it has generally trended upward in terms of prices. The town's real estate market appears robust, with continued growth expected in both home values and rent prices, though future trends may be moderated by rising interest rates.