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Zip Code 65035: Resilient Home Values Amidst Shifting Ownership Trends in Freeburg, 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
Freeburg, located in zip code 65035 in Missouri, presents an interesting case study in homeownership and rental trends. This rural community has experienced fluctuations in its population and housing market over the past decade, with notable shifts in ownership percentages and rental prices.
The homeownership rate in Freeburg has shown a slight decline from 2013 to 2022, dropping from 88% to 86%. Despite this minor decrease, the area maintains a high rate of owner-occupied housing compared to the national average. Average home prices in the area have only recent data available, showing a slight decrease from $287,626 in 2023 to $287,358 in 2024, indicating a relatively stable housing market.
The relationship between federal interest rates and homeownership rates in Freeburg appears to follow general trends. As interest rates remained low between 2013 and 2021, ranging from 0.08% to 1.68%, the homeownership rate remained relatively stable, fluctuating between 82% and 90%. However, as interest rates began to rise sharply in 2022 and 2023, reaching 5.02% in 2023, we see a slight increase in homeownership from 82% in 2020 to 86% in 2022, possibly indicating a rush to purchase homes before rates climbed further.
Renter percentages in Freeburg have shown a corresponding inverse relationship to homeownership rates, increasing from 12% in 2013 to 14% in 2022. Average rent prices have experienced significant volatility during this period. Starting at $440 in 2013, rent prices decreased to $339 in 2017, then spiked dramatically to $604 in 2019, before settling at $465 in 2022. This volatility in rent prices could be attributed to changes in local economic conditions or shifts in housing supply and demand within the small community.
Looking at the most recent data, the average home price in Freeburg for 2023 was $287,626, with a slight decrease to $287,358 in 2024. This minimal change suggests a stabilizing housing market. Concurrently, federal interest rates have continued to rise, reaching 5.33% in 2024, which could potentially impact future homeownership rates and housing affordability in the area.
Applying predictive models to forecast 5-year trends, we can anticipate that average home prices in Freeburg may continue to experience modest fluctuations, potentially ranging between $285,000 and $290,000 by 2029. Rent prices, given their historical volatility, are more challenging to predict accurately. However, based on recent trends, we might expect average rent to stabilize between $450 and $500 per month over the next five years, barring any significant economic shifts or local policy changes.
In summary, Freeburg in zip code 65035 has maintained a high rate of homeownership despite slight declines in recent years. The area has experienced relatively stable home prices, with more volatile rent prices. The relationship between federal interest rates and homeownership rates appears to follow expected patterns, with recent increases in interest rates potentially influencing future housing market dynamics. As the community moves forward, it will be crucial to monitor how these trends evolve and impact the local housing landscape.
