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Rising Home Values and High Ownership Rates: Village of Four Seasons, Missouri's Resilient Housing Market
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
Loading Content...
Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
Village of Four Seasons, Missouri, is a unique community nestled in the heart of the state. This small village has experienced notable fluctuations in homeownership rates and housing prices over the past decade. The city has maintained a consistently high rate of owner-occupied housing, with a general upward trend in average home prices and average rent costs.
The homeownership rate in Village of Four Seasons has shown a significant increase from 2013 to 2022. In 2013, the owner-occupied rate was 81%, which rose to 90% by 2018, indicating a strong preference for homeownership in the community. This increase coincided with a steady rise in average home prices. In 2013, the average home price was $211,294, which increased to $248,663 by 2018, representing a 17.7% growth over five years. This trend suggests that despite rising home prices, residents were increasingly choosing to purchase rather than rent.
Federal interest rates have played a role in homeownership trends. From 2013 to 2016, interest rates remained below 0.5%, which likely contributed to the increase in homeownership from 81% to 83% during this period. As interest rates began to rise more significantly from 2017 onwards, homeownership rates continued to climb, reaching 87% by 2022. This suggests that other local factors may have been influencing homeownership decisions in addition to interest rates.
The rental market in Village of Four Seasons has seen interesting shifts. As homeownership increased, the percentage of renters decreased from 19% in 2013 to 13% in 2022. Despite this decline in the renter population, average rent prices showed an overall upward trend. The average rent rose from $746 in 2013 to $974 in 2017, a 30.6% increase. However, there was some volatility, with average rent dropping to $763 in 2021 before rising again to $846 in 2022. This fluctuation could be attributed to changes in the local economy or housing supply.
In 2023 and 2024, the Village of Four Seasons experienced a slight cooling in the housing market. The average home price in 2023 was $376,331, showing a marginal decrease from the 2022 price of $376,791. However, there was a slight rebound in 2024, with the average home price increasing to $379,638. This period coincided with higher federal interest rates, which stood at 5.02% in 2023 and 5.33% in 2024, potentially influencing buyer behavior and market dynamics.
Looking ahead, predictive models suggest that average home prices in Village of Four Seasons may continue to rise moderately over the next five years, albeit at a slower pace than observed in the early 2020s. Average rent prices are also expected to increase, but with potential fluctuations similar to those seen in recent years. These predictions are based on historical trends and current market conditions.
In summary, Village of Four Seasons has demonstrated a strong preference for homeownership, with rates reaching as high as 90% in recent years. Average home prices have shown consistent growth, while average rent prices have experienced more volatility. The community's resilience in maintaining high homeownership rates, even during periods of rising home prices and interest rates, suggests a stable and desirable local housing market. Future trends indicate continued growth in both home prices and rents, reflecting the ongoing attractiveness of this Missouri village as a place to live and invest.
