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Zip Code 45169: Rising Home Values and Shifting Ownership in Rural Ohio
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
Zip code 45169, located in Sabina, Ohio, has experienced significant changes in housing trends over the past decade. From 2013 to 2022, this rural area saw a slight increase in homeownership rates, rising from 68% to 69%. During the same period, average home prices more than doubled, increasing from $71,633 to $169,029. Average rent prices also rose, albeit more modestly, from $675 to $685.
The relationship between homeownership rates and average home prices in zip code 45169 reveals interesting trends. Despite the substantial increase in average home prices, homeownership rates remained relatively stable, with minor fluctuations. In 2013, when the average home price was $71,633, the homeownership rate was 68%. By 2022, as the average home price reached $169,029, the homeownership rate stood at 69%. This suggests that local residents have managed to maintain homeownership despite rising prices, possibly due to income growth or other economic factors.
Federal interest rates appear to have influenced homeownership rates in this zip code. During periods of low interest rates, such as 2013-2016 when rates were below 0.5%, homeownership rates remained relatively high, ranging from 64% to 70%. As interest rates began to rise from 2017 onwards, there was a slight dip in homeownership, reaching a low of 63% in 2017. However, the community showed resilience, with ownership rates rebounding to 69% by 2022, even as interest rates climbed to 1.68%.
Renter percentages and average rent prices have shown a more volatile relationship. In 2013, when the average rent was $675, renters comprised 31% of the population. Rent prices peaked at $732 in 2017, coinciding with the highest renter percentage of 37%. Interestingly, as the population decreased from 5,140 in 2013 to 4,689 in 2022, average rent prices remained relatively stable, ending at $685 in 2022 with a renter percentage of 31%. This suggests that the rental market has adjusted to maintain affordability despite population changes.
Looking at the most recent data, average home prices in zip code 45169 continued to rise, reaching $170,771 in 2023 and $179,041 in 2024. This represents a 5.4% increase from 2022 to 2023 and a further 4.8% increase from 2023 to 2024. Notably, federal interest rates also saw significant increases, jumping to 5.02% in 2023 and 5.33% in 2024, which could potentially impact future homeownership rates and housing affordability in the area.
Applying predictive models to forecast 5-year trends, we anticipate average home prices in zip code 45169 to continue their upward trajectory, potentially reaching around $210,000 by 2029. This projection is based on the consistent growth observed over the past decade. Average rent prices are expected to follow a more moderate increase, potentially reaching approximately $750 by 2029, assuming the area's population and economic conditions remain relatively stable.
In summary, zip code 45169 has demonstrated remarkable resilience in homeownership rates despite significant increases in average home prices. The community has maintained a relatively stable balance between owners and renters, with homeownership slightly increasing over the past decade. The most striking trend has been the substantial growth in average home prices, more than doubling from 2013 to 2022. Average rent prices, while increasing, have shown more modest growth. Looking ahead, we expect continued appreciation in home values and a gradual increase in rent prices, with the potential for shifts in ownership rates depending on how the community adapts to rising interest rates and housing costs.
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