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Rising Home Values and Ownership: Camdenton'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
Camdenton, Missouri, has experienced significant changes in its housing market over the past decade. This analysis examines trends in homeownership rates, average home prices, and average rent prices, revealing interesting patterns in this dynamic city. From 2013 to 2022, Camdenton saw a substantial increase in homeownership rates, rising from 62% to 69%. This upward trend coincided with a significant rise in average home prices. In 2012, the average home price in Camdenton was $154,482, which steadily increased to $292,979 by 2022, representing an impressive 89.7% growth over this period. The relationship between federal interest rates and homeownership rates in Camdenton presents an intriguing pattern. Despite fluctuations in interest rates, homeownership rates generally increased. From 2013 to 2016, when interest rates were extremely low (0.11% to 0.4%), homeownership actually decreased slightly from 62% to 56%. However, as interest rates began to rise more significantly from 2016 to 2022 (0.4% to 1.68%), homeownership rates increased from 56% to 69%. This suggests that factors beyond interest rates, such as local economic conditions or housing supply, may have played a more significant role in homeownership trends in Camdenton.
Renter percentages in Camdenton have shown an inverse relationship to homeownership rates, decreasing from 38% in 2013 to 31% in 2022. Interestingly, despite this decrease in the renter population, average rent prices have generally increased. The average rent rose from $576 in 2013 to $817 in 2022, a 41.8% increase. This upward trend in rent prices, despite a decreasing renter population, could indicate a tightening rental market or an improvement in the quality of rental properties available.
In 2023 and 2024, Camdenton's housing market showed signs of stabilization. The average home price in 2023 was $289,961, a slight decrease from 2022, but it rebounded to $299,280 in 2024. This represents a modest 3.2% increase from 2022 to 2024. Notably, federal interest rates increased significantly during this period, reaching 5.02% in 2023 and 5.33% in 2024, which could impact future homeownership trends.
Looking ahead, predictive models suggest a continued upward trend in both home prices and rent prices over the next five years. Average home prices are projected to increase by approximately 15-20%, potentially reaching around $340,000 to $360,000 by 2029. Average rent prices are expected to follow a similar trajectory, potentially increasing by 10-15% over the same period, which could bring the average rent to around $900-$950 per month.
In summary, Camdenton has experienced a notable increase in homeownership rates and average home prices over the past decade, while also seeing rising rent prices despite a decreasing renter population. The city's housing market has shown resilience in the face of fluctuating interest rates, suggesting strong local factors influencing these trends. As the market continues to evolve, it will be crucial to monitor how these trends develop and impact the overall housing landscape in Camdenton.
