The rental market in zip code 17758, while smaller, has shown interesting trends. The percentage of renter-occupied housing has remained relatively stable, fluctuating between 9% and 10% from 2013 to 2022. Average rent prices, however, have seen more significant changes. In 2013, the average rent was $716, which increased to $932 by 2021, representing a 30% rise over eight years. Interestingly, there was a slight decrease to $844 in 2022, possibly indicating a market correction or changing local economic factors.

Looking at the most recent data, the average home price in zip code 17758 continued its upward trajectory, reaching $229,239 in 2023 and further increasing to $240,941 in 2024. This represents a substantial 12.6% increase from 2022 to 2024. Concurrently, federal interest rates have risen significantly, reaching 5.02% in 2023 and 5.33% in 2024, which may impact future homebuying decisions in the area.

Applying predictive models to forecast 5-year trends, we anticipate that average home prices in zip code 17758 will continue to rise, albeit potentially at a more moderate pace. Given the historical data and recent trends, average home prices could reach approximately $275,000 to $300,000 by 2029. For average rent prices, the forecast suggests a continued upward trend, potentially reaching $1,000 to $1,100 per month by 2029, assuming the local economic conditions remain stable and follow historical patterns.

In summary, zip code 17758 demonstrates a robust housing market characterized by high homeownership rates and steadily increasing average home prices. The rental market, while smaller, has also shown growth in average rent prices. The area's resilience to interest rate fluctuations and consistent appreciation in property values suggest a stable and desirable real estate market. Future trends indicate continued growth in both home values and rental prices, making this zip code an area of interest for both homeowners and investors.