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Rising Home Values and Ownership Trends in Stonehouse, Napa: A Decade of Urban Charm
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
Loading Content...
Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
The Stonehouse neighborhood in Napa, California, has experienced significant changes in its housing market over the past decade. From 2013 to 2022, homeownership rates fluctuated, while average home prices rose dramatically. In 2013, 41% of residents owned their homes, with this figure peaking at 46% in 2017 before declining to 38% by 2022. During this same period, average home prices in Stonehouse increased from $359,399 in 2013 to $740,265 in 2022, representing a 106% increase.
The relationship between federal interest rates and homeownership rates in Stonehouse reveals interesting patterns. In 2013, with interest rates at 0.11%, homeownership stood at 41%. As rates rose to 1.83% in 2018, homeownership increased to 43%. However, by 2022, with rates at 1.68%, homeownership had decreased to 38%. This suggests that while lower interest rates generally encourage homeownership, other local factors may have a more significant impact on ownership trends in this neighborhood.
Renter percentages and average rent prices in Stonehouse have also shown notable trends. The percentage of renters increased from 59% in 2013 to 62% in 2022. During this same period, average rent prices rose significantly, from $1,474 in 2013 to $2,157 in 2022, an increase of 46%. This rise in rent prices coincided with fluctuations in the neighborhood's population, which peaked at 4,426 in 2016 before declining to 3,534 in 2022.
Recent data shows that the average home price in Stonehouse reached $747,810 in 2023 and further increased to $763,009 in 2024. This represents a 3% increase from 2022 to 2024, indicating a continued upward trend in property values. Federal interest rates have also risen significantly, reaching 5.02% in 2023 and 5.33% in 2024, which may impact future homeownership rates and property values.
Applying predictive models to forecast 5-year trends, average home prices in Stonehouse are expected to continue rising, potentially reaching around $850,000 by 2029. Average rent prices are also projected to increase, possibly surpassing $2,500 per month within the same timeframe. These projections are based on historical trends and current market conditions.
In summary, the Stonehouse neighborhood has experienced a general trend of decreasing homeownership rates and increasing property values over the past decade. The rapid rise in both home prices and rent suggests a highly desirable area with strong demand for housing. The recent sharp increase in interest rates may lead to interesting shifts in the housing market dynamics in the coming years, potentially affecting both homeownership rates and property values.
