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Rising Home Values and 100% Ownership in Zip Code 52758: A Small Iowa Community's Housing Trends
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
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Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
McCausland, located in zip code 52758 in Iowa, is a small community with a population that has fluctuated between 20 and 27 residents from 2010 to 2022. This rural area has seen interesting trends in homeownership and housing prices over the past decade. The homeownership rate in McCausland has shown a general upward trend, reaching 100% in recent years. In 2013, the percent of owner-occupied homes was 82%, which increased to 91% in 2014. After some fluctuations, it reached 100% in 2019 and has remained at that level through 2022. This trend towards full homeownership coincides with a steady increase in average home prices. The average home price in the area rose from $132,987 in 2016 to $186,761 in 2022, representing a 40.4% increase over six years.
The trend of increasing homeownership rates in McCausland aligns with periods of lower federal interest rates. For instance, when interest rates were at historic lows between 2020 and 2021 (0.38% and 0.08% respectively), the area maintained its 100% homeownership rate. This relationship supports the well-established trend that lower interest rates generally encourage homeownership due to more affordable financing options.
Regarding rental trends, the data for renter-occupied housing is limited. However, the median rent in the area has remained relatively stable, with only slight fluctuations. From 2013 to 2018, the median rent was consistently $1,124. It saw a brief increase to $1,199 in 2019 before returning to $1,124 in 2020 and slightly decreasing to $1,113 in 2021. The stability in rent prices, coupled with the increasing homeownership rates, suggests a shift away from renting in this small community.
Looking at the most recent data, the average home price in McCausland continued its upward trajectory, reaching $191,546 in 2023 and $198,363 in 2024. This represents a 6.2% increase from 2022 to 2024. Interestingly, this price increase occurred despite a significant rise in federal interest rates, which jumped to 5.02% in 2023 and 5.33% in 2024. This suggests that local factors may be driving home prices in the area, potentially overriding the typical dampening effect of higher interest rates on housing demand.
Applying predictive models to forecast 5-year trends, we can expect the average home prices in McCausland to continue their upward trajectory, albeit potentially at a slower rate due to higher interest rates. Assuming a conservative annual growth rate of 3-4%, average home prices could reach approximately $230,000 to $240,000 by 2029. Rent prices, which have been more stable, may see modest increases, potentially reaching around $1,200 to $1,250 per month in the next five years.
In summary, McCausland has experienced a significant trend towards homeownership, reaching 100% in recent years. This has been accompanied by steady increases in average home prices, which have continued to rise even in the face of higher interest rates. The rental market has remained relatively stable, with little change in median rents over the years. These trends paint a picture of a small, stable community with a strong preference for homeownership and a resilient local housing market.
