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Zip Code 63126: Rising Home Values and Strong Ownership in Crestwood, Missouri
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 63126, located in Crestwood, Missouri, has experienced interesting trends in homeownership and housing prices over the past decade. This suburban area has maintained a consistently high rate of homeownership, with a slight increase in recent years, while average home prices have shown significant growth.
The ownership percentage in zip code 63126 has remained relatively stable, with a slight upward trend. In 2013, the homeownership rate was 82%, and by 2022, it had increased to 85%. This 3% increase in homeownership coincided with a substantial rise in average home prices. In 2013, the average home price was $169,525, and by 2022, it had climbed to $292,244, representing a remarkable 72.4% increase over nine years.
The relationship between federal interest rates and homeownership rates in this zip code shows an interesting pattern. Despite fluctuations in interest rates, the homeownership rate has remained consistently high. For example, when interest rates were near zero (0.08%) in 2021, the homeownership rate was 84%. Interestingly, as interest rates rose to 1.68% in 2022, the homeownership rate actually increased slightly to 85%, suggesting that other factors may have influenced homeownership decisions in this area.
Renter percentages in zip code 63126 have remained relatively low, showing a slight decrease from 17% in 2013 to 15% in 2022. During this period, average rent prices fluctuated. In 2013, the average rent was $1,168, peaking at $1,174 in 2016, and then decreasing to $1,110 in 2022. This represents a 5% decrease in average rent over nine years, which is notable given the significant increase in home prices during the same period.
In 2023, the average home price in zip code 63126 reached $309,829, a 6% increase from 2022. This growth continued into 2024, with the average home price rising to $321,569, marking a further 3.8% increase. Notably, interest rates also saw a significant rise, reaching 5.02% in 2023 and 5.33% in 2024. Despite these higher interest rates, home prices in the area continued to appreciate, indicating strong demand and resilience in the local housing market.
Looking ahead, predictive models suggest that average home prices in zip code 63126 are likely to continue their upward trajectory over the next five years, albeit at a potentially slower rate due to higher interest rates. Average rent prices may see modest increases as demand for rental properties potentially rises in response to higher home prices and interest rates.
In summary, zip code 63126 has demonstrated a robust housing market characterized by high homeownership rates and steadily increasing average home prices. The area has shown resilience to interest rate changes, maintaining strong homeownership levels even as rates fluctuate. The slight decrease in renter percentages, coupled with relatively stable rent prices, suggests a continued preference for homeownership in this suburban community.
