The rental market in Mason has shown inverse trends to homeownership. The percentage of renters decreased from 37% in 2013 to 30% in 2022. Despite this decline in the renter population, average rent prices have generally increased, rising from $804 in 2013 to $858 in 2022. This upward trend in rent prices, despite a smaller renter population, could indicate increased demand for rental properties or improvements in the quality of available rentals.

Looking at the most recent data, average home prices in Mason continued to rise, reaching $159,899 in 2023 and $167,407 in 2024. This represents a 9.7% increase from 2022 to 2024, indicating a continued strong housing market. Concurrently, federal interest rates have increased significantly, reaching 5.02% in 2023 and 5.33% in 2024, which may impact future homeownership trends and affordability.

Applying predictive models to forecast 5-year trends, we anticipate that average home prices in Mason will continue to rise, potentially reaching around $200,000 by 2029. This projection is based on the consistent upward trend observed over the past decade and assumes continued economic growth and demand for housing in the area. Average rent prices are also expected to increase, potentially surpassing $1,000 per month within the next five years, following the upward trajectory seen in recent years.

In summary, Mason has experienced a significant increase in homeownership rates and average home prices over the past decade, with a corresponding decrease in the renter population. Despite fluctuations in federal interest rates, the local housing market has shown resilience and growth. The continued rise in both home prices and rent suggests a strong demand for housing in the area, which is likely to persist in the coming years. As the community evolves, these housing trends will play a crucial role in shaping the economic and social landscape of Mason.