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Lisbon, NH: Rising Home Values Amidst Stable Ownership
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
Loading Content...
Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
Lisbon, a community in New Hampshire, has experienced significant changes in its housing market over the past decade. This analysis examines the relationship between homeownership rates, average home prices, and average rent prices, revealing interesting trends in the local real estate market.
From 2013 to 2022, Lisbon maintained a relatively stable homeownership rate between 72% and 76%. During this period, average home prices showed a substantial upward trend. In 2013, the average home price was $111,403, which increased steadily to $237,100 by 2022, representing a 112.8% growth over nine years. This trend suggests that despite rising home values, Lisbon residents have largely maintained their ability to own homes.
Federal interest rates have played a crucial role in homeownership trends. From 2013 to 2016, interest rates remained exceptionally low, around 0.1% to 0.4%. During this period, homeownership in Lisbon peaked at 76% in 2017. As interest rates began to rise more significantly from 2017 onwards, reaching 1.68% in 2022, there was a slight decline in homeownership to 72%. This pattern aligns with the general trend of lower interest rates encouraging homeownership due to more affordable financing options.
Renter percentages in Lisbon have shown minor fluctuations, ranging from 24% to 28% between 2013 and 2022. Average rent prices exhibited volatility during this period. Starting at $936 in 2013, rents peaked at $1,033 in 2015, then experienced a decline to $855 in 2019 before rising again to $1,030 in 2022. These fluctuations in rent prices do not show a clear correlation with the percentage of renters, suggesting that other factors, such as local economic conditions or housing supply, may have more influence on the rental market in Lisbon.
In 2023 and 2024, Lisbon saw a continuation of the upward trend in average home prices. The average home price reached $258,037 in 2023 and further increased to $265,679 in 2024, representing a 12.1% growth from 2022 to 2024. Concurrently, federal interest rates rose significantly to 5.02% in 2023 and 5.33% in 2024, potentially impacting homeownership affordability.
Looking ahead, predictive models suggest that average home prices in Lisbon may continue to rise over the next five years, albeit at a potentially slower rate due to higher interest rates. Average rent prices are also expected to increase moderately, influenced by overall housing market trends and local economic factors.
In summary, Lisbon has maintained a relatively stable homeownership rate despite significant increases in average home prices. The impact of federal interest rates on homeownership is evident, with lower rates corresponding to higher ownership percentages. The rental market has shown more volatility, with fluctuating average rent prices not clearly correlated to renter percentages. The recent sharp rise in both home prices and interest rates may pose challenges for future homeownership rates in the community.
