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Zip Code 19567: Resilient Homeownership Amid Rising Home Values in Stouchsburg, Pennsylvania
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
Zip code 19567, located in Stouchsburg, Pennsylvania, presents an intriguing case study of housing trends in a small community. This area has experienced notable fluctuations in homeownership rates and property values over the past decade, with average home prices showing a consistent upward trajectory and ownership percentages remaining relatively stable.
The homeownership rate in zip code 19567 has maintained a relatively steady range between 74% and 78% from 2013 to 2022. During this period, average home prices have shown a significant upward trend. In 2013, the average home price was $151,132, which steadily increased to $254,073 by 2022, representing a substantial 68% growth over nine years. This price appreciation occurred despite minor fluctuations in the homeownership rate, suggesting that rising property values did not significantly impact the proportion of homeowners in the area.
Federal interest rates have played a role in shaping homeownership trends in zip code 19567. For instance, when interest rates were at historic lows between 2020 and 2021 (0.38% and 0.08% respectively), homeownership rates in the area reached 76% in 2020 and peaked at 78% in 2021. This aligns with the general trend of lower interest rates encouraging homeownership due to more affordable financing options.
Renter percentages in zip code 19567 have remained relatively stable, fluctuating between 22% and 26% from 2013 to 2022. Average rent prices, however, have shown considerable volatility. In 2013, the average rent was $884, which dropped to $794 in 2017 before rising sharply to $1,128 in 2016. By 2022, the average rent settled at $1,059. This fluctuation in rent prices, coupled with a growing population from 5,388 in 2013 to 5,539 in 2022, suggests a dynamic rental market responding to changing demand and economic conditions.
In 2023 and 2024, the housing market in zip code 19567 continued its upward trajectory. The average home price reached $268,594 in 2023 and further increased to $279,916 in 2024, representing a 10.2% growth over two years. This price appreciation occurred alongside a significant rise in federal interest rates, which jumped to 5.02% in 2023 and 5.33% in 2024, potentially impacting affordability for new homebuyers.
Looking ahead, predictive models suggest that the upward trend in average home prices is likely to continue over the next five years, albeit potentially at a more moderate pace due to higher interest rates. Average rent prices are also expected to increase, driven by population growth and the overall appreciation of property values in the area.
In summary, zip code 19567 has demonstrated resilience in its homeownership rates despite significant increases in average home prices. The area has weathered fluctuations in the rental market and responded to changes in federal interest rates. As property values continue to appreciate, the community may face challenges in maintaining affordability, particularly for first-time homebuyers and renters.
