Renter percentages in zip code 43532 have remained relatively low, ranging from 12% to 17% between 2013 and 2022. Interestingly, average rent prices have shown a declining trend over this period. In 2013, the average rent was $825, which decreased to $649 by 2022, representing a 21% reduction. This decline in rent prices occurred despite fluctuations in the area's population, which peaked at 4,249 in 2013 and decreased to 3,630 by 2022. The inverse relationship between declining rent prices and the area's generally high homeownership rates suggests a preference for homeownership in this community.

Looking at more recent data, the average home price in zip code 43532 continued to rise, reaching $200,710 in 2023 and $209,402 in 2024. This represents a 5.3% increase from 2022 to 2024. Concurrently, federal interest rates have increased significantly, reaching 5.02% in 2023 and 5.33% in 2024. These higher interest rates may impact future homeownership rates and housing affordability in the area.

Applying predictive models to forecast 5-year trends, we anticipate that average home prices in zip code 43532 will continue to rise, potentially reaching around $240,000 by 2029. This projection is based on the consistent upward trend observed over the past decade. Average rent prices, which have been declining, may stabilize or see a slight increase, potentially reaching around $700 by 2029, as the market adjusts to changing economic conditions and housing preferences.

In summary, zip code 43532 has maintained a strong homeownership base despite rising home prices, with a notable inverse relationship between homeownership rates and average rent prices. The area has shown resilience in maintaining high ownership rates even as federal interest rates have fluctuated. The continuing rise in home prices, coupled with recent increases in interest rates, may present challenges to homeownership in the future, potentially leading to shifts in the local housing market dynamics.