Renter percentages in zip code 36544 have shown some variability, ranging from 17% to 22% between 2013 and 2022. The average rent prices have also experienced fluctuations during this period. In 2013, the average rent was $789, which increased to $941 by 2021, representing a 19% rise. However, there was a slight decrease to $880 in 2022. It's worth noting that the population of the area has remained relatively stable, with 10,572 residents in 2013 and 11,642 in 2022, suggesting that changes in rent prices were not primarily driven by significant population shifts.

Looking at the most recent data, the average home price in zip code 36544 reached $180,512 in 2023 and further increased to $184,288 in 2024. This represents a continued upward trend in property values. Simultaneously, interest rates have risen substantially, reaching 5.02% in 2023 and 5.33% in 2024, which may impact affordability and future homeownership rates in the area.

Applying predictive models to forecast 5-year trends, we anticipate that average home prices in zip code 36544 will continue to rise, albeit at a potentially slower pace due to higher interest rates. By 2029, average home prices could reach approximately $220,000 to $230,000, assuming a moderate annual growth rate of 3-4%. Average rent prices are also expected to increase, potentially reaching $1,000 to $1,100 per month by 2029, based on historical trends and accounting for inflation.

In summary, zip code 36544 has maintained a high homeownership rate despite significant increases in average home prices. The area has shown resilience in its housing market, with property values nearly doubling over the past decade. While renter percentages have fluctuated, they remain a minority in this predominantly owner-occupied community. The recent surge in interest rates may pose challenges for future homebuyers, but the steady appreciation of home values suggests continued demand in this coastal Alabama location.