Waverly, located in zip code 64096 in Missouri, is a small community that has experienced notable shifts in homeownership and housing prices over the past decade. This analysis explores the trends in ownership percentages, average home prices, and average rent prices in this area. In Waverly, homeownership rates have fluctuated between 60% and 74% from 2013 to 2022. The ownership percentage peaked at 74% in 2019 before settling at 66% in 2022. During this period, average home prices in the area have shown a consistent upward trend. In 2012, the average home price was $72,962, and by 2022, it had more than doubled to $158,344. This significant increase in home values coincided with varying homeownership rates, suggesting that rising prices did not uniformly deter homeownership in the area.

The relationship between federal interest rates and homeownership rates in Waverly 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 remained relatively stable around 60-62%. As interest rates began to rise from 2017 onwards, reaching 1.68% in 2022, homeownership rates actually increased, peaking at 74% in 2019 before settling at 66% in 2022. This suggests that while lower interest rates generally encourage homeownership, other local factors also play a significant role in this community.

Renter percentages in Waverly have inversely mirrored homeownership rates, ranging from 26% to 40% between 2013 and 2022. The average rent prices have shown an overall increasing trend during this period. In 2013, the average rent was $555, which increased to $719 by 2022, representing a 29.5% increase over nine years. Interestingly, the population of Waverly has remained relatively stable during this period, fluctuating between 1,069 and 1,165 residents. This suggests that the increase in rent prices may be more closely tied to broader economic factors rather than significant changes in local housing demand.