Conversely, the renter percentage in zip code 30277 has decreased from 11% in 2013 to 7% in 2022. This decline in renters coincides with fluctuations in average rent prices. The average rent peaked at $1,524 in 2015 and has since decreased to $1,337 in 2022, representing a 12.3% drop. The declining renter population, from 2,018 in 2013 to 1,319 in 2022, may have contributed to the downward pressure on rent prices.

In 2023 and 2024, the real estate market in zip code 30277 continued to show strength. The average home price rose to $415,342 in 2023 and further increased to $432,241 in 2024, representing a 9.7% growth over two years. This occurred despite federal interest rates rising to 5.02% in 2023 and 5.33% in 2024, indicating resilience in the local housing market even in a higher interest rate environment.

Looking ahead, predictive models suggest that average home prices in zip code 30277 may continue to rise over the next five years, potentially reaching around $500,000 by 2029. However, this growth rate may moderate compared to the rapid increases seen in recent years. Average rent prices are expected to stabilize or show modest increases, possibly reaching around $1,450 by 2029, as the area maintains its strong preference for homeownership.

In summary, zip code 30277 has demonstrated a robust housing market characterized by increasing homeownership rates and rising average home prices. The area has shown resilience to interest rate changes, maintaining high ownership levels even as rates fluctuate. The declining renter population and stabilizing rent prices further emphasize the area's shift towards homeownership. As the market continues to evolve, this zip code is poised for continued growth in property values, albeit at a potentially more moderate pace.