Renter percentages in Twin Valley have shown a corresponding decline as homeownership increased. In 2013, the renter-occupied rate was 24%, which decreased to 21% by 2022. Average rent prices have shown some volatility. In 2013, the average rent was $1,389, which increased to $1,684 in 2019, representing a 21.2% increase over six years. There was a significant drop in average rent to $908 in 2021, followed by an increase to $1,058 in 2022. These fluctuations in rent prices may be influenced by various factors, including changes in the local economy and housing supply.

In 2023 and 2024, Twin Valley experienced some changes in the housing market. The average home price in 2023 was $144,914, showing a slight decrease from 2022. In 2024, the average home price further decreased to $143,574. This trend coincides with a significant increase in federal interest rates, which rose to 5.02% in 2023 and 5.33% in 2024. These higher interest rates may have contributed to the slight cooling of home prices.

Looking ahead, based on recent trends and economic factors, we can forecast potential 5-year trends for average home and rent prices in Twin Valley. Average home prices may continue to experience moderate growth, potentially reaching around $155,000 to $160,000 by 2029, assuming a steady but slower rate of appreciation compared to recent years. Average rent prices might stabilize and show gradual increases, potentially reaching $1,200 to $1,300 per month by 2029, reflecting ongoing demand for rental properties in the area.

In summary, Twin Valley has maintained a strong homeownership rate, with a slight increase in recent years despite fluctuations in average home prices. The rental market has shown volatility in pricing, while the percentage of renters has decreased slightly. The relationship between federal interest rates and homeownership trends is evident, with low rates coinciding with high homeownership rates. Recent increases in interest rates may influence future housing market dynamics in the city.