Renter percentages in Crown have shown some volatility, but generally remained low. In 2013, the renter-occupied percentage was 12%, and it fluctuated between 7% and 14% over the next decade. Interestingly, average rent prices increased significantly during this period. In 2013, the average rent was $774, and by 2022, it had risen to $834, representing a 7.8% increase. This increase in rent prices occurred despite the relatively stable and low renter population, suggesting other factors such as housing quality improvements or regional economic changes may have influenced rent prices.

Looking at the most recent data, the average home price in Crown continued to rise in 2023 and 2024, reaching $100,331 and $102,614 respectively. This represents a 3.4% increase from 2022 to 2024. Concurrently, federal interest rates have increased significantly, rising to 5.02% in 2023 and 5.33% in 2024. These higher interest rates may impact future homeownership rates and housing affordability in the area.

Applying predictive models to forecast 5-year trends, we anticipate that average home prices in Crown will continue to rise, albeit at a potentially slower rate due to higher interest rates. We project that by 2029, average home prices could reach approximately $115,000 to $120,000. Average rent prices are also expected to increase, potentially reaching around $900 to $950 by 2029, assuming current trends persist.

In summary, Crown has experienced a trend of increasing homeownership rates and rising average home prices over the past decade. Despite increases in both home prices and rent, the community has maintained a high rate of homeownership, likely influenced by periods of low interest rates. However, the recent sharp increase in federal interest rates may pose challenges to this trend in the coming years. The area's real estate market has shown resilience and growth, with consistent increases in property values that are expected to continue, albeit potentially at a more moderate pace.