Average home prices in White Hall have shown moderate variability since 2014. The average home price in 2014 was $67,006, which increased to a peak of $78,311 in 2018, representing a 16.9% increase over four years. However, prices subsequently declined, reaching $68,294 in 2022, a 12.8% decrease from the 2018 peak. This fluctuation in home prices may be attributed to various factors, including local economic conditions and broader market trends.

The relationship between federal interest rates and homeownership rates in White Hall appears to follow expected patterns. For instance, the period of low interest rates from 2013 to 2016 (ranging from 0.09% to 0.4%) coincided with a stable homeownership rate of around 75-76%. The slight increase in homeownership to 80% in 2017 occurred as interest rates began to rise, possibly indicating a rush to purchase homes before rates increased further.

Renter percentages in White Hall have remained relatively constant, ranging from 20% to 26% between 2013 and 2022. The average rent prices have shown some volatility during this period. In 2013, the average rent was $500, which increased to $612 in 2017, representing a 22.4% increase. However, rent prices then fluctuated, dropping to $547 in 2022, a 10.6% decrease from the 2017 peak. These changes in rent prices may be influenced by factors such as local housing supply, demand, and overall economic conditions.

Looking at the most recent data, the average home price in White Hall for 2023 was $67,077, showing a slight decrease from 2022. However, in 2024, the average home price increased to $69,708, representing a 3.9% increase from the previous year. This recent uptick in home prices occurred despite the federal interest rate rising to 5.33% in 2024, which might typically discourage home purchases due to higher borrowing costs.

Based on the observed trends and current market conditions, we can project potential 5-year trends for average home and rent prices in White Hall. Assuming a continuation of the recent upward trajectory in home prices and considering the current high interest rates, we might expect average home prices to increase moderately, potentially reaching around $75,000 to $80,000 by 2029. For rent prices, given the historical fluctuations and the recent increase in home prices, we could anticipate a gradual rise, potentially reaching an average of $650 to $700 per month by 2029.

In summary, White Hall has maintained a relatively stable homeownership rate despite fluctuations in average home prices and federal interest rates. The recent increase in home prices, even in the face of higher interest rates, suggests a resilient local housing market. Rent prices have shown volatility but appear to be on an upward trend. These trends indicate a dynamic housing market in White Hall, with potential for continued growth in both home values and rental rates in the coming years.