As homeownership rates increased, the percentage of renters in zip code 45867 decreased from 19% in 2013 to 11% in 2022. Interestingly, despite the declining renter population, average rent prices showed an overall upward trend. The average rent increased from $749 in 2013 to $734 in 2022, with fluctuations in between, reaching a peak of $886 in 2017. This trend suggests that even with fewer renters, the rental market has maintained relatively stable prices, possibly due to limited rental inventory or improved quality of available rentals.

In 2023 and 2024, the housing market in zip code 45867 continued to evolve. The average home price reached $205,001 in 2023 and further increased to $217,244 in 2024, showing a continued upward trajectory. Concurrently, federal interest rates rose significantly to 5.02% in 2023 and 5.33% in 2024, which may impact future homeownership trends and affordability in the area.

Looking ahead, predictive models suggest that average home prices in zip code 45867 are likely to continue their upward trend over the next five years, potentially reaching around $250,000 by 2029. Average rent prices are expected to remain relatively stable, with modest increases, potentially reaching approximately $800 per month in the same timeframe. These predictions are based on historical trends and current market conditions.

In summary, zip code 45867 has experienced a significant shift towards homeownership, accompanied by substantial increases in average home prices. The area has seen a decrease in the renter population, though average rent prices have remained relatively stable. With continuing rises in home prices and higher interest rates, the housing market in this zip code may face new challenges and opportunities in the coming years.