Renter percentages in zip code 55929 have shown minor fluctuations, ranging from 11% to 15% between 2013 and 2022. Interestingly, average rent prices have increased substantially during this period. In 2013, the average rent was $626, which rose to $846 by 2022, marking a 35% increase. This growth in rent prices occurred despite the relatively stable renter population, possibly indicating increased demand for rental properties or improvements in the quality of available rentals.

Looking at more recent data, the average home price in zip code 55929 reached $326,200 in 2023 and further increased to $331,767 in 2024. This continued upward trend in home values is notable, especially considering the sharp rise in federal interest rates to 5.02% in 2023 and 5.33% in 2024. These higher interest rates may impact future homeownership rates and property values in the area.

Applying predictive models to forecast 5-year trends, we anticipate that average home prices in zip code 55929 will continue to rise, potentially reaching around $380,000 by 2029. This projection is based on the consistent growth observed over the past decade and the area's increasing population density. Average rent prices are also expected to increase, potentially surpassing $950 per month within the next five years, driven by the overall appreciation of property values in the area.

In summary, zip code 55929 has demonstrated a robust housing market with stable homeownership rates and steadily increasing property values. The area has weathered changes in federal interest rates while maintaining a high proportion of homeowners. The rental market, though smaller, has seen significant price increases. As the population continues to grow and housing density increases, both home values and rent prices are expected to maintain their upward trajectory, reflecting the area's desirability and economic stability.