Loading Content...
Zip Code 63866: Marston's Home Values and Ownership Trends Amidst Market Fluctuations
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
Loading Content...
Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
Zip code 63866, located in Marston, Missouri, has experienced significant fluctuations in population and housing trends over the past decade. This area has seen notable shifts in homeownership rates and housing prices, reflecting broader economic changes and local demographic shifts.
The homeownership rate in zip code 63866 has shown considerable variability from 2013 to 2022. In 2013, the homeownership rate stood at 53%, then dropped to 49% in 2014. It reached a peak of 60% in 2019 before declining to 53% in 2022. Concurrently, average home prices have shown a steady upward trend. In 2012, the average home price was $28,024, which increased to $61,912 by 2022, representing a significant 121% increase over this period.
The relationship between federal interest rates and homeownership rates in this zip code shows some correlation. For instance, when interest rates were at historic lows between 2013 and 2016 (ranging from 0.09% to 0.40%), homeownership rates fluctuated between 49% and 57%. As interest rates began to rise more significantly from 2017 onwards, reaching 1.68% in 2022, homeownership rates showed some volatility but generally remained above 50%.
Renter percentages in zip code 63866 have inversely mirrored homeownership rates, ranging from a low of 40% in 2019 to a high of 53% in 2020. Average rent prices have shown an overall upward trend, albeit with some fluctuations. In 2013, the average rent was $533, which increased to $694 by 2022, representing a 30% increase. Notably, there was a significant jump in average rent from $533 in 2013 to $694 in 2014, followed by a peak of $865 in 2018 before declining slightly in subsequent years.
In 2023 and 2024, the average home prices in zip code 63866 showed a slight decline followed by a modest increase. The average home price in 2023 was $58,946, down from $61,912 in 2022. However, in 2024, it increased slightly to $59,453. This trend occurred alongside a significant rise in federal interest rates, which reached 5.02% in 2023 and 5.33% in 2024, potentially impacting home buying decisions in the area.
Looking ahead, based on historical trends and current economic conditions, we can predict that average home prices in zip code 63866 may continue to show modest growth over the next five years, possibly reaching around $65,000 by 2029. Average rent prices, which have been more volatile, might stabilize around $750 per month, assuming continued population stability and economic growth in the area.
In summary, zip code 63866 has experienced significant changes in its housing market over the past decade. The area has seen substantial growth in average home prices, fluctuating homeownership rates, and generally increasing rent prices. These trends, influenced by factors such as interest rates and local economic conditions, suggest a dynamic housing market that continues to evolve in response to broader economic and demographic shifts.
