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Zip Code 35080: Rising Home Values and High Ownership Rates in Helena, Alabama
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
Helena, Alabama, zip code 35080, is a rapidly growing suburban area that has experienced significant demographic and housing market changes over the past decade. This analysis examines the trends in homeownership rates, average home prices, and average rent prices in this region.
The homeownership rate in Helena has remained consistently high, hovering around 90-93% between 2013 and 2022. This stability in homeownership is noteworthy, especially considering the substantial increase in average home prices during the same period. In 2013, the average home price in the area was $181,762, which steadily rose to $330,362 by 2022, representing an impressive 81.7% increase over nine years.
The relationship between federal interest rates and homeownership rates in Helena appears to have had minimal impact on the overall trend. Despite fluctuations in interest rates, from a low of 0.08% in 2021 to 1.68% in 2022, the homeownership rate remained relatively stable. This suggests that other factors, such as the desirability of the area and local economic conditions, may have played a more significant role in maintaining high homeownership levels.
Renter percentages in Helena have remained low, ranging from 7% to 9% between 2013 and 2022. Interestingly, average rent prices have shown some volatility during this period. In 2013, the average rent was $1,515, which decreased to $1,370 in 2015 before rising again to $1,568 in 2019. By 2022, the average rent had settled at $1,457. This fluctuation in rent prices, coupled with the low percentage of renters, suggests a relatively small but dynamic rental market in the area.
In 2023 and 2024, the housing market in Helena continued to show strength. The average home price reached $336,140 in 2023 and further increased to $339,744 in 2024. This represents a modest but steady growth of 2.8% from 2022 to 2024. Notably, federal interest rates also saw a significant increase during this period, rising from 1.68% in 2022 to 5.02% in 2023 and 5.33% in 2024. Despite these higher interest rates, the housing market in Helena has maintained its upward trajectory.
Looking ahead, predictive models suggest that the housing market in Helena will continue to grow, albeit at a more moderate pace. Over the next five years, average home prices are projected to increase by approximately 3-4% annually, potentially reaching around $400,000 by 2029. Average rent prices are expected to follow a similar trend, with estimated increases of 2-3% per year, potentially reaching $1,650-$1,700 by 2029.
In summary, Helena's zip code 35080 demonstrates a robust and stable housing market characterized by high homeownership rates and steadily increasing property values. The area has shown resilience in the face of changing interest rates and economic conditions, maintaining its appeal to homeowners. While the rental market remains small, it shows signs of stability with moderate price fluctuations. The continued growth in population and housing prices suggests that Helena remains an attractive location for residents and investors alike.
