While homeownership increased, the percentage of renters in zip code 45052 decreased from 19% in 2013 to 14% in 2022. Interestingly, despite the declining renter population, average rent prices showed an overall upward trend. In 2013, the average rent was $753, and it increased to $1,063 by 2022, representing a 41.2% rise. This increase in rent prices, coupled with the growing homeownership rate, suggests a competitive rental market with potentially limited supply.

Looking at the most recent data, average home prices in zip code 45052 continued to rise in 2023 and 2024, reaching $316,225 and $320,442 respectively. This represents a 5.5% increase from 2022 to 2023 and a further 1.3% increase from 2023 to 2024. Notably, federal interest rates also saw a significant jump, rising to 5.02% in 2023 and 5.33% in 2024. These higher interest rates may impact future homeownership trends and housing affordability in the area.

Applying predictive models to forecast 5-year trends, we anticipate that average home prices in zip code 45052 will continue to rise, albeit at a potentially slower rate due to the higher interest rate environment. We project that by 2029, average home prices could reach approximately $350,000 to $375,000. For rent prices, the forecast suggests a continued upward trend, with average rents potentially reaching $1,200 to $1,300 per month by 2029.

In summary, zip code 45052 has demonstrated a clear trend towards increased homeownership and rising property values over the past decade. The area has seen a substantial 76.6% increase in average home prices from 2013 to 2022, accompanied by a 4 percentage point increase in homeownership rates. Despite a decreasing renter population, average rent prices have also shown significant growth. The recent spike in interest rates may influence future housing market dynamics, potentially moderating the rapid price increases observed in recent years.