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Zip Code 63933: Home Values and Ownership Trends in Campbell, Missouri's Resilient Rural Housing Market
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 63933, located in Campbell, Missouri, has demonstrated an interesting housing market dynamic over the past decade. This area has experienced fluctuations in homeownership rates, average home prices, and average rent prices, reflecting broader economic trends and local market conditions. The overall trend indicates a slight decrease in homeownership, coupled with a gradual increase in average home prices and average rent prices.
Examining the relationship between homeownership rates and average home prices in zip code 63933 reveals some notable trends. In 2013, the homeownership rate was 70%, with an average home price of $74,305. By 2022, the homeownership rate remained stable at 70%, while the average home price increased to $89,635, representing a 20.6% increase over this period. This trend suggests that despite rising home prices, residents in this area have maintained a consistent level of homeownership.
Federal interest rates have played a significant role in shaping homeownership trends. From 2013 to 2016, interest rates remained low, ranging from 0.11% to 0.40%, which coincided with relatively stable homeownership rates around 70-71%. As interest rates began to rise more significantly from 2017 (1%) to 2019 (2.16%), there was a slight decline in homeownership, dropping to 64% in 2019. However, when interest rates plummeted to 0.38% in 2020 and 0.08% in 2021, homeownership rebounded to 68% and 69% respectively, demonstrating the inverse relationship between interest rates and homeownership.
Renter percentages and average rent prices in zip code 63933 have shown interesting patterns. In 2013, the renter-occupied rate was 30%, with an average rent of $540. By 2022, the renter-occupied rate decreased slightly to 29%, while the average rent increased to $660, a 22.2% rise. This trend suggests that despite the increase in average rent prices, the proportion of renters in the area has remained relatively stable. The population decline from 4,156 in 2013 to 3,567 in 2022 may have contributed to maintaining the balance between renters and homeowners, despite rising rental costs.
Looking at the most recent data for 2023 and 2024, we see a shift in the housing market. The average home price in zip code 63933 decreased from $89,635 in 2022 to $84,018 in 2023, and further declined to $78,730 in 2024. This represents a 12.2% decrease in average home prices over two years. Simultaneously, federal interest rates rose significantly, reaching 5.02% in 2023 and 5.33% in 2024, which likely contributed to the cooling of the housing market.
Applying predictive models to forecast 5-year trends, we anticipate a potential stabilization or slight decrease in average home prices in zip code 63933, given the current high interest rate environment. Average rent prices are expected to continue their upward trajectory, albeit at a more moderate pace, potentially reaching around $700-$725 by 2029. These projections are based on historical trends and current economic conditions.
In summary, zip code 63933 has demonstrated resilience in homeownership rates despite fluctuating economic conditions. The most significant discoveries include the stability of homeownership rates around 70% despite rising home prices, the inverse relationship between federal interest rates and homeownership rates, and the recent cooling of the housing market as evidenced by declining home prices in 2023 and 2024. The rental market has shown a gradual increase in average rents while maintaining a relatively stable renter population. Moving forward, the area may experience a period of price stabilization in the housing market, with continued moderate growth in the rental sector.
