The renter population in zip code 28075 has remained relatively small, fluctuating between 11% and 14% from 2013 to 2022. Average rent prices have shown moderate increases during this period, rising from $1,433 in 2013 to $1,585 in 2022, a 10.6% increase. Interestingly, despite the overall population growth from 16,206 in 2013 to 21,624 in 2022, the proportion of renters has not significantly changed, suggesting that new residents are more likely to become homeowners in this area.

In 2023, the average home price in zip code 28075 reached $489,193, showing continued growth from the previous year. This trend persisted into 2024, with average home prices rising to $507,469. Notably, federal interest rates also increased significantly during this period, reaching 5.02% in 2023 and 5.33% in 2024. Despite these higher interest rates, which typically make mortgages more expensive, home prices in the area continued to appreciate, indicating strong demand for housing in this zip code.

Looking ahead, predictive models suggest that average home prices in zip code 28075 may continue to rise over the next five years, albeit at a potentially slower rate due to higher interest rates. Average rent prices are also expected to increase moderately, reflecting the area's growing population and limited rental inventory. However, the rate of increase for both home prices and rents may be tempered by broader economic factors and local market conditions.

In summary, zip code 28075 has demonstrated a robust and growing housing market characterized by high homeownership rates and steadily increasing property values. The area has maintained its appeal to homeowners despite rising prices, suggesting strong local economic factors and desirable community attributes. While renting remains a minor component of the local housing market, both homeowners and renters have seen increases in their housing costs, reflecting the overall growth and development of the Harrisburg area.