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Zip Code 19454: Rising Home Values and Ownership in Montgomeryville
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
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Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
Montgomeryville, located in zip code 19454 in Pennsylvania, has experienced notable shifts in its housing market over the past decade. This suburban community has seen fluctuations in homeownership rates, average home prices, and average rent prices, reflecting broader economic trends and local market dynamics.
The homeownership rate in Montgomeryville has shown resilience, with a slight increase from 78% in 2013 to 81% in 2022. This trend coincided with a significant rise in average home prices, which grew from $295,630 in 2013 to $460,482 in 2022, representing a 55.8% increase over nine years. The steady increase in homeownership despite rising prices suggests a strong local housing market and continued desirability of the area.
Federal interest rates have played a crucial role in shaping homeownership trends. The period from 2013 to 2016 saw historically low interest rates, ranging from 0.09% to 0.4%, which likely contributed to the sustained high homeownership rates in Montgomeryville. As interest rates began to rise from 2017 onwards, reaching 1.68% in 2022, the homeownership rate remained stable at 81%, indicating the area's resilience to moderate interest rate increases.
Renter percentages in Montgomeryville have shown a slight decrease, from 22% in 2013 to 19% in 2022. This decrease corresponds with an increase in average rent prices, which rose from $1,438 in 2013 to $1,914 in 2022, a 33.1% increase over nine years. The population has remained relatively stable during this period, fluctuating between 25,247 and 26,888 residents, suggesting that the rental market has tightened, potentially pushing some renters towards homeownership.
In 2023 and 2024, the housing market in Montgomeryville continued its upward trajectory. The average home price reached $485,171 in 2023 and further increased to $504,328 in 2024, representing a 9.5% growth over two years. This growth occurred despite a significant rise in federal interest rates, which jumped to 5.02% in 2023 and 5.33% in 2024, highlighting the strong demand for housing in the area even in a higher interest rate environment.
Applying predictive models to forecast 5-year trends, we anticipate continued growth in both average home and rent prices for Montgomeryville. Average home prices are projected to reach approximately $575,000 by 2029, assuming a conservative annual growth rate of 2.5-3%. Average rent prices are expected to increase to around $2,200 per month by 2029, based on a projected annual growth rate of 2-2.5%.
In summary, Montgomeryville (19454) has demonstrated a robust and growing housing market over the past decade. The area has maintained high homeownership rates while experiencing significant increases in both home values and rent prices. Despite rising interest rates, the demand for housing in this suburban community remains strong, suggesting continued growth and stability in the local real estate market for the foreseeable future.
