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Zip Code 52328: Rising Home Values and High Ownership Rates in Robins, Iowa
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 52328, located in Robins, Iowa, has experienced significant growth and changes in its housing market over the past decade. This area has maintained a consistently high rate of homeownership, with average home prices steadily increasing and average rent prices fluctuating over time.
The homeownership rate in zip code 52328 has remained remarkably stable, hovering around 95-96% from 2013 to 2022. Despite this consistency, average home prices have shown a steady upward trend. In 2010, the average home price was $247,321, which increased to $377,535 by 2022, representing a substantial 52.6% growth over this period. This trend suggests that while homeownership rates remained high, the value of properties in the area appreciated significantly.
Federal interest rates have played a role in maintaining high homeownership rates in this zip code. From 2010 to 2021, interest rates remained historically low, ranging from 0.08% to 2.16%. These low rates likely contributed to the sustained high levels of homeownership by making mortgages more affordable for residents. Even as interest rates began to rise in 2022 to 1.68%, the homeownership rate in the zip code remained robust at 94%.
The rental market in zip code 52328 has shown more volatility compared to the homeownership trends. The percentage of renters fluctuated between 2% and 6% from 2013 to 2022. Average rent prices also experienced significant variations. In 2013, the average rent was $1,509, which decreased to $990 in 2016, before rising again to $1,503 in 2022. These fluctuations in rent prices and renter percentages could be attributed to the small rental market in the area and changes in local economic conditions or housing availability.
Looking at the most recent data, average home prices in zip code 52328 continued to rise in 2023 and 2024, reaching $388,852 and $391,467 respectively. This represents a 3% increase from 2022 to 2023 and a further 0.7% increase from 2023 to 2024. Concurrently, federal interest rates have also increased significantly, reaching 5.02% in 2023 and 5.33% in 2024. Despite these higher interest rates, home prices have continued to appreciate, albeit at a slower pace than in previous years.
Applying predictive models to forecast 5-year trends, we anticipate that average home prices in zip code 52328 will continue to rise, but at a more moderate rate compared to the sharp increases seen in recent years. The high interest rate environment may slow down price appreciation, potentially leading to a 2-3% annual increase in average home prices. For rent prices, we expect a gradual upward trend, with potential increases of 3-4% annually, reflecting the overall housing market trends and local economic factors.
In summary, zip code 52328 has demonstrated a robust and stable housing market characterized by high homeownership rates and steadily increasing property values. The area has shown resilience in maintaining these trends even in the face of changing economic conditions and rising interest rates. While the rental market has been more volatile, it represents a small portion of the overall housing landscape in this zip code. As we look to the future, moderate growth in both home prices and rent is expected, reflecting the area's continued desirability and economic stability.
