Renter occupancy in West Liberty has increased from 23% in 2013 to 28% in 2022, mirroring the decline in homeownership. Average rent prices have also risen during this period, though not as dramatically as home prices. In 2013, the average rent was $608, and by 2022, it had increased to $729, a 19.9% rise. The population growth from 2,795 in 2013 to 3,157 in 2022 may have contributed to the increased demand for rental properties and the subsequent rise in rent prices.

In 2023, the average home price in West Liberty reached $266,385, a further increase of 4% from 2022. This growth continued into 2024, with average home prices rising to $279,136, representing a 4.8% increase from 2023. Notably, federal interest rates also saw significant increases during this period, rising from 1.68% in 2022 to 5.02% in 2023, and further to 5.33% in 2024. These higher interest rates may impact future homebuying decisions in the village.

Looking ahead, predictive models suggest that average home prices in West Liberty are likely to continue their upward trajectory over the next five years, albeit at a potentially slower pace due to higher interest rates. Average rent prices are also expected to increase, driven by population growth and the ongoing shift towards renting. However, the rate of increase may moderate as the market adjusts to economic conditions and housing supply catches up with demand.

In summary, West Liberty has experienced a clear trend of declining homeownership rates and rising home prices over the past decade. The rental market has grown, with both the percentage of renters and average rent prices increasing. These trends, coupled with recent interest rate hikes and continued home price appreciation, suggest a changing housing landscape in the village that will likely persist in the coming years.