Renter percentages in zip code 63146 have also remained relatively stable, with slight fluctuations. In 2013, the renter-occupied rate was 43%, and by 2022, it was 42%. Average rent prices have shown a gradual increase over this period. In 2013, the average rent was $1,278, which increased to $1,358 by 2022, representing a 6.3% increase over nine years. This modest increase in rent prices, compared to the more substantial rise in home prices, may have contributed to the stability in renter percentages.

Looking at the most recent data, the average home price in zip code 63146 reached $305,633 in 2023 and further increased to $315,429 in 2024. This represents a 4.9% and 3.2% year-over-year increase in 2023 and 2024, respectively. Notably, federal interest rates have also risen significantly, reaching 5.02% in 2023 and 5.33% in 2024. These higher interest rates may impact future homeownership trends and housing affordability in the area.

Based on the historical trends and recent data, we can make some predictions for the next five years. Average home prices in zip code 63146 are likely to continue their upward trajectory, albeit potentially at a slower rate due to higher interest rates. We might expect average home prices to reach around $350,000-$370,000 by 2029. Average rent prices may also continue to increase, potentially reaching $1,500-$1,600 by 2029, assuming a similar rate of growth as seen in recent years.

In summary, zip code 63146 has demonstrated resilience in its homeownership rates despite significant increases in average home prices. The area has maintained a relatively stable balance between owner-occupied and renter-occupied properties, with gradual increases in both home prices and rent prices. The recent rise in interest rates and continued growth in home prices suggest that affordability may become a more pressing issue in the coming years, potentially influencing future homeownership rates and rental market dynamics in this Maryland Heights neighborhood.