Loading Content...
Zip Code 19468: Rising Home Values and Ownership Trends in Royersford, Pennsylvania
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
Loading Content...
Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
Zip code 19468, located in Royersford, Pennsylvania, has experienced significant changes in homeownership rates and housing prices over the past decade. This area has seen a steady increase in owner-occupied housing, coupled with fluctuating average home and rent prices.
The ownership percentage in zip code 19468 has shown a consistent upward trend, rising from 72% in 2013 to 76% in 2022. This increase in homeownership coincides with a substantial rise in average home prices. In 2013, the average home price was $237,678, which steadily increased to $385,366 by 2022, representing a 62% increase over nine years. This trend suggests a strong correlation between rising homeownership rates and increasing property values in the area.
Federal interest rates have played a crucial role in shaping homeownership trends in zip code 19468. The period from 2013 to 2016 saw historically low interest rates, ranging from 0.11% to 0.40%. During this time, homeownership rates increased from 72% to 73%, likely due to more affordable financing options. As interest rates began to rise from 2017 onwards, reaching 1.68% in 2022, homeownership rates continued to climb, reaching 76% in 2022. This suggests that other factors, such as local economic conditions and housing market dynamics, may have outweighed the impact of rising interest rates on homeownership in this area.
The renter percentage in zip code 19468 has shown a slight decrease over time, dropping from 26% in 2013 to 24% in 2022. Interestingly, average rent prices have fluctuated during this period. In 2013, the average rent was $1,274, which increased to $1,321 in 2016 before decreasing to $1,265 in 2018. By 2022, the average rent had risen again to $1,310. These fluctuations in rent prices, coupled with the decreasing renter percentage, suggest a complex interplay between housing supply, demand, and local economic factors.
Looking at the most recent data, the average home price in zip code 19468 reached $409,344 in 2023 and further increased to $430,038 in 2024. This represents a significant jump from the 2022 average of $385,366. Concurrently, federal interest rates have risen sharply, reaching 5.02% in 2023 and 5.33% in 2024. Despite these high interest rates, the continued rise in home prices suggests strong demand and potentially limited housing supply in the area.
Applying predictive models to forecast 5-year trends, we anticipate that average home prices in zip code 19468 will continue to rise, albeit at a potentially slower rate due to the current high interest rates. We project that by 2029, average home prices could reach approximately $500,000 to $550,000, assuming a moderate annual growth rate of 3-5%. For rent prices, we expect a more modest increase, potentially reaching an average of $1,500 to $1,600 per month by 2029, based on historical trends and accounting for inflationary pressures.
In summary, zip code 19468 has demonstrated a strong trend towards increased homeownership, with consistently rising average home prices over the past decade. Despite fluctuations in rent prices and federal interest rates, the area has maintained a robust housing market. The recent sharp increases in both home prices and interest rates suggest a resilient local economy and continued demand for housing in this Pennsylvania borough.
