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Trexler Park: Rising Home Values and Stable Ownership in Allentown's Resilient Neighborhood
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
Loading Content...
Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
Trexler Park, an Allentown neighborhood in Pennsylvania, has experienced significant changes in its housing market over the past decade. This area, known for its blend of residential and recreational spaces, has shown resilience in homeownership rates while seeing substantial growth in property values. From 2013 to 2022, Trexler Park maintained a relatively stable homeownership rate between 64% and 66%. The rate stood at 66% in 2013, decreased to 62% in 2017, and returned to 66% by 2022. During this same period, average home prices in the neighborhood demonstrated a consistent upward trend. In 2013, the average home price was $335,921, which increased to $509,296 by 2022, representing a significant 51.6% growth over nine years. The interplay between federal interest rates and homeownership rates in Trexler Park reveals interesting patterns. When interest rates were at historic lows between 2013 and 2016 (0.09% to 0.4%), homeownership rates remained steady at 66%. As interest rates rose from 2017 (1%) to 2019 (2.16%), there was a slight decline in homeownership to 62-64%. However, the neighborhood saw a return to 66% homeownership in 2021 and 2022, despite rising interest rates, indicating that other factors may have influenced buying decisions.
Renter percentages in Trexler Park have mirrored homeownership trends, fluctuating between 34% and 38% from 2013 to 2022. Average rent prices showed an overall upward trend with some fluctuations. In 2013, the average rent was $1,558, which increased to $1,794 by 2021, a 15.1% rise. However, there was a slight decrease to $1,670 in 2022. The population of Trexler Park has also varied, ranging from 6,142 in 2015 to 7,605 in 2021, potentially influencing rental demand and prices.
Recent data shows that the average home price in Trexler Park reached $520,310 in 2023 and further increased to $546,723 in 2024, marking a substantial 7.3% year-over-year increase. Concurrently, federal interest rates rose from 5.02% in 2023 to 5.33% in 2024, potentially impacting homebuying decisions in the neighborhood.
Predictive models forecast that average home prices in Trexler Park will continue to rise, potentially reaching around $650,000 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, a more moderate increase is expected, potentially reaching approximately $1,900 by 2029, assuming steady population growth and continued demand for rental properties in the area.
In conclusion, Trexler Park has demonstrated resilience in its housing market, maintaining stable homeownership rates and experiencing steadily increasing property values. The neighborhood has adapted to fluctuations in interest rates and population, preserving a balance between owner-occupied and rental properties. The substantial growth in average home prices, particularly in recent years, indicates strong demand for housing in this Allentown neighborhood. Looking ahead, Trexler Park is positioned for continued growth in both home values and rental prices, making it an area of interest for homeowners and investors alike.
