Renter percentages in zip code 62550 have remained relatively constant, ranging from 20% to 23% between 2013 and 2022. Average rent prices, however, have shown more volatility. Starting at $716 in 2013, rent prices peaked at $931 in 2018 before settling at $811 in 2022. This represents a 13.3% increase over the decade, despite some fluctuations. The stability in renter percentages, coupled with the modest increase in rent prices, suggests a balanced rental market that has kept pace with local economic conditions and population changes.

In 2023 and 2024, average home prices in zip code 62550 continued their upward trajectory, reaching $146,850 in 2023 and $150,962 in 2024. This represents a 4.5% increase from 2022 to 2024, indicating a continued strong housing market. Concurrently, federal interest rates rose significantly to 5.02% in 2023 and 5.33% in 2024, marking a substantial increase from the previous years.

Looking ahead, predictive models suggest that average home prices in zip code 62550 may continue to rise over the next five years, potentially reaching around $165,000 by 2029. This projection is based on the steady growth observed in recent years and assumes continued economic stability in the region. Average rent prices are also expected to increase moderately, potentially reaching approximately $950 per month by 2029, reflecting the gradual upward trend observed in the past decade.

In summary, zip code 62550 demonstrates a robust and stable housing market characterized by high homeownership rates and steadily increasing property values. The resilience of homeownership rates in the face of fluctuating interest rates suggests a strong local preference for property ownership. The rental market, while smaller, shows signs of stability with gradual price increases. These trends, combined with the recent uptick in home prices and interest rates, paint a picture of a housing market that continues to strengthen, offering potential opportunities for both homeowners and investors in the coming years.