Conversely, the percentage of renters in Macon has decreased from 19% in 2013 to 10% in 2022. Despite this decline in the renter population, average rent prices have shown volatility. In 2013, the average rent was $850, which peaked at $1,026 in 2017 before decreasing to $877 in 2022. The fluctuations in rent prices, despite the decreasing renter population, suggest other factors such as local economic conditions or housing availability may be influencing the rental market.

Looking at the most recent data, average home prices in Macon continued to rise, reaching $350,225 in 2023 and $367,583 in 2024. This represents a further 13% increase from 2022 to 2024. Notably, federal interest rates also increased significantly during this period, rising to 5.02% in 2023 and 5.33% in 2024. Despite these higher interest rates, which typically discourage home buying, Macon's housing market has remained robust, suggesting strong local demand or other favorable market conditions.

Applying predictive models to forecast 5-year trends, we can anticipate continued growth in average home prices in Macon, albeit potentially at a more moderate pace. Given the recent price increases and higher interest rates, we might expect average home prices to reach around $425,000 to $450,000 by 2029. For rent prices, the forecast suggests a potential stabilization or slight increase, possibly reaching an average of $950 to $1,000 per month by 2029, assuming local economic conditions remain favorable and housing supply keeps pace with demand.

In summary, Macon has experienced a significant shift towards homeownership, accompanied by substantial increases in property values. The town's housing market has shown resilience, with rising home prices even in the face of increasing interest rates. While the rental market has shrunk, rent prices have remained relatively stable. These trends paint a picture of a dynamic local housing market, likely influenced by Macon's unique attributes and broader economic factors.