Renter percentages in zip code 47130 have remained relatively stable, ranging from 29% to 33% between 2013 and 2022. Average rent prices have shown a gradual increase over this period. In 2013, the average rent was $892, and by 2022, it had risen to $965, representing an 8.2% increase. The most significant jump in average rent occurred between 2020 and 2021, rising from $958 to $1,032, a 7.7% increase in a single year. This spike coincided with a population increase from 45,888 in 2020 to 46,952 in 2021, suggesting increased housing demand may have contributed to the rent increase.

In 2023 and 2024, the real estate market in zip code 47130 continued to evolve. The average home price reached $229,311 in 2023 and further increased to $236,720 in 2024, showing a 3.2% year-over-year growth. Concurrently, federal interest rates rose significantly, reaching 5.02% in 2023 and 5.33% in 2024, marking the highest rates in over a decade. Despite these high interest rates, the housing market in this area has continued to appreciate, indicating strong underlying demand and economic factors supporting home values.

Looking ahead, predictive models suggest that the upward trend in both average home prices and rent prices is likely to continue over the next five years, albeit potentially at a more moderate pace. Average home prices could potentially reach around $275,000 to $290,000 by 2029, while average rent prices might increase to approximately $1,100 to $1,200 per month. However, these projections are subject to various economic factors and local market conditions.

In summary, zip code 47130 has demonstrated a robust housing market with increasing homeownership rates and substantial growth in average home prices over the past decade. The area has shown resilience in the face of rising interest rates, maintaining strong homeownership levels. Rent prices have also increased, but at a more moderate pace compared to home prices. The continued appreciation of home values, even in a high-interest rate environment, suggests a strong local economy and sustained demand for housing in this Jeffersonville, Indiana zip code.