Conversely, the percentage of renters in Lavinia has decreased significantly over the same period, from 17% in 2013 to 8% in 2022. This decline in renters coincided with fluctuations in average rent prices. In 2013, the average rent was $850, which decreased to $760 by 2022. It's worth noting that the population of Lavinia also declined during this period, from 1,583 in 2013 to 814 in 2022, which may have influenced the rental market dynamics.

Looking at more recent data, the average home price in Lavinia increased to $168,858 in 2023 and further to $175,116 in 2024. This upward trend in home prices occurred despite a significant rise in federal interest rates, which reached 5.02% in 2023 and 5.33% in 2024. This suggests that local factors may be influencing the housing market in Lavinia, potentially overriding the typical inverse relationship between interest rates and home prices.

Applying predictive models to forecast 5-year trends, we can anticipate continued growth in average home prices in Lavinia. If the current trajectory continues, average home prices could potentially reach around $190,000 to $200,000 by 2029. As for rent prices, the forecast is less clear due to the recent fluctuations. However, if the trend of decreasing rental demand continues, we might see average rent prices stabilize or potentially decrease slightly over the next five years.

In summary, Lavinia has experienced a significant shift towards homeownership, with a corresponding decrease in renters over the past decade. This trend has occurred alongside fluctuations in both home prices and rent prices. The recent increase in home prices, despite rising interest rates, suggests strong local demand for homeownership in Lavinia. As the community continues to evolve, these trends will likely shape the future of housing in this Tennessee CDP.