The renter population in zip code 45230 has seen a slight increase, from 25% in 2013 to 26% in 2022. Concurrently, average rent prices have risen steadily. In 2013, the average rent was $833 per month, which increased to $970 per month by 2022, representing a 16.4% increase over nine years. This rise in rent prices, coupled with the area's relatively stable population (28,170 in 2020 to 28,126 in 2022), indicates a growing demand for rental properties in the zip code.

Looking at the most recent data, average home prices in zip code 45230 continued to rise, reaching $288,587 in 2023 and $299,687 in 2024. This represents a 4.6% increase from 2022 to 2023 and a further 3.8% increase from 2023 to 2024. Notably, federal interest rates also saw significant increases, rising to 5.02% in 2023 and 5.33% in 2024, which may impact future homebuying trends in the area.

Applying predictive models to forecast 5-year trends, we anticipate that average home prices in zip code 45230 will continue to rise, potentially reaching around $350,000 by 2029. This projection is based on the consistent upward trend observed over the past decade and the recent acceleration in price growth. For average rent prices, we expect a continued increase, potentially reaching approximately $1,100 per month by 2029, assuming the current growth rate persists.

In summary, zip code 45230 has demonstrated resilience in its housing market, with steadily increasing average home and rent prices despite relatively stable homeownership rates. The area has shown consistent growth in property values, outpacing rent increases, which may continue to attract both homeowners and investors. The recent sharp rise in interest rates, however, may introduce new dynamics to the local real estate market in the coming years.