Zip Code 17543: Rising Home Values and Steady Ownership in Rothsville, Pennsylvania
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
DATA SOURCE
Zip code 17543, located in Rothsville, Pennsylvania, has experienced significant demographic and housing market changes over the past decade. This area has seen a steady increase in population and a fluctuating homeownership rate, accompanied by rising average home prices and average rent costs.
The homeownership rate in zip code 17543 has remained relatively stable, with slight fluctuations between 2013 and 2022. In 2013, the homeownership rate was 74%, which decreased slightly to 71% in 2015 and 2016. By 2022, it had risen back to 73%. During this same period, average home prices showed a consistent upward trend. In 2013, the average home price was $227,577, which increased to $371,207 by 2022, representing a substantial 63% increase over nine years.
The relationship between federal interest rates and homeownership rates in this zip code is not as straightforward as one might expect. Despite historically low interest rates between 2013 and 2021 (ranging from 0.08% to 1.83%), the homeownership rate remained relatively stable. This suggests that other factors, such as local economic conditions or housing supply, may have played a more significant role in determining homeownership rates in this area.
Renter percentages in zip code 17543 have shown slight variations, ranging from 26% in 2013 to 29% in 2015 and 2016, before settling at 27% in 2022. Average rent prices have generally increased over this period, albeit with some fluctuations. In 2013, the average rent was $1,081, which rose to $1,197 in 2021, representing an 11% increase. However, there was a slight decrease to $1,126 in 2022. The population growth from 44,996 in 2013 to 48,477 in 2022 may have contributed to the overall upward pressure on rent prices.
As of 2024, the average home price in zip code 17543 has reached $413,057, showing a continued upward trend from the 2023 figure of $396,319. This represents a 4.2% increase in just one year. Concurrently, the federal interest rate has risen to 5.33% in 2024, up from 5.02% in 2023, potentially impacting home affordability and future homeownership rates.
Looking ahead, based on the historical data and current trends, we can project that average home prices in zip code 17543 are likely to continue their upward trajectory over the next five years. Assuming a similar growth rate to recent years, average home prices could potentially reach or exceed $500,000 by 2029. Average rent prices, while more volatile, may also continue to increase, potentially surpassing $1,300 per month within the same timeframe.
In summary, zip code 17543 has demonstrated a robust housing market with steadily increasing average home prices and a relatively stable homeownership rate. The area has experienced consistent population growth, which has likely contributed to the upward pressure on both home prices and rents. Despite fluctuations in federal interest rates, local factors appear to have played a significant role in shaping the housing market dynamics in this Pennsylvania community.
