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Zip Code 27925: Average Home Values and Ownership Trends in Rural North Carolina
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
Columbia, located in zip code 27925 in North Carolina, has experienced notable shifts in its housing market over the past decade. This rural community has seen fluctuations in homeownership rates and property values, reflecting broader economic trends and local demographic changes.
The homeownership rate in zip code 27925 has remained relatively stable, with some minor fluctuations. In 2013, the homeownership rate stood at 75%, and by 2022, it was at 74%, indicating a slight decrease of 1 percentage point over the decade. During this period, average home prices in the area have shown a steady upward trend. In 2012, the average home price was $92,998, and by 2022, it had increased to $168,020, representing a substantial growth of approximately 80.7% over ten years.
The relationship between federal interest rates and homeownership rates in Columbia appears to follow the general trend observed nationwide. From 2013 to 2020, when interest rates were relatively low (ranging from 0.09% to 0.38%), homeownership rates remained fairly stable, fluctuating between 71% and 75%. This stability in homeownership during periods of low interest rates suggests that affordable financing options may have supported homeownership in the area.
Renter percentages in zip code 27925 have shown some variability over the years. In 2013, the renter-occupied rate was 25%, and it reached a peak of 32% in 2019 before settling back to 26% in 2022. Average rent prices have fluctuated considerably during this period. In 2013, the average rent was $562, rising to a peak of $727 in 2014, then dropping to $446 in 2015. By 2022, the average rent had increased to $585, representing a modest overall increase of about 4.1% from 2013 to 2022. These fluctuations in rent prices and renter percentages may be influenced by the area's changing population, which decreased from 4,035 in 2013 to 3,156 in 2022.
In 2023 and 2024, the housing market in zip code 27925 showed signs of stabilization. The average home price in 2023 was $168,688, a slight increase from 2022. However, in 2024, there was a minor decrease to $167,739. This slight dip coincides with higher federal interest rates, which rose to 5.02% in 2023 and 5.33% in 2024, potentially impacting home affordability and buyer demand.
Looking ahead, predictive models suggest that average home prices in zip code 27925 may continue to experience moderate growth over the next five years, albeit at a slower pace than observed in the previous decade. This projection is based on historical trends and current market conditions. Average rent prices are expected to follow a similar pattern of modest increases, influenced by factors such as local economic conditions and housing supply.
In summary, Columbia's housing market in zip code 27925 has demonstrated resilience and growth over the past decade. The area has maintained a high rate of homeownership despite fluctuations in the rental market. The significant increase in average home prices, coupled with relatively stable homeownership rates, suggests a robust local housing market. However, recent data indicates a potential cooling in price growth, which may be influenced by rising interest rates. These trends highlight the dynamic nature of the local real estate market and its responsiveness to broader economic factors.
