The relationship between federal interest rates and homeownership rates in Hartleton appears to follow the general trend of lower interest rates encouraging homeownership. For instance, when interest rates were at historic lows in 2020 and 2021 (0.38% and 0.08% respectively), the homeownership rate in the area increased from 79% in 2019 to 83% in 2021. This aligns with the expectation that lower interest rates make home financing more accessible, potentially driving up homeownership rates.

Renter percentages in Hartleton have shown an inverse relationship to homeownership rates, as expected. The renter-occupied percentage increased from 13% in 2013 to 21% in 2016 and remained at that level through 2019. However, it decreased to 16% by 2022, coinciding with the increase in homeownership rates. Average rent prices have generally increased over time, rising from $643 in 2013 to $810 in 2019, before slightly decreasing to $731 in 2022. This trend in rent prices doesn't seem to directly correlate with the renter percentage, suggesting other factors may influence rental rates in the area.

Looking at the most recent data, the average home price in Hartleton continued its upward trajectory, reaching $218,895 in 2023 and further increasing to $225,766 in 2024. This represents a 4.3% increase from 2023 to 2024. Concurrently, federal interest rates have risen significantly, reaching 5.02% in 2023 and 5.33% in 2024. Despite these higher interest rates, home prices have continued to appreciate, indicating strong demand in the local housing market.

Applying predictive models to forecast 5-year trends, we can expect average home prices in Hartleton to continue their upward trajectory, potentially reaching around $260,000 by 2029. This projection is based on the consistent year-over-year increases observed in recent years. For average rent prices, the forecast suggests a moderate increase, potentially reaching approximately $800 per month by 2029, assuming the trend of gradual increases resumes after the slight dip observed in 2022.

In summary, Hartleton's housing market is characterized by high homeownership rates and steadily increasing average home prices. The community has shown resilience in maintaining strong homeownership levels even as home prices and interest rates have risen. The rental market, while smaller, has seen fluctuations in both occupancy rates and average rents. Moving forward, the area is likely to continue seeing appreciation in both home values and rental rates, reflecting ongoing demand for housing in this Pennsylvania community.