Renter percentages in zip code 65079 have remained relatively low, fluctuating between 10% and 15% from 2013 to 2022. Average rent prices, however, have shown considerable volatility. In 2013, the average rent was $417, rising to $961 in 2020, then jumping significantly to $1,141 in 2021, before settling at $980 in 2022. This represents a 135% increase in average rent from 2013 to 2022. The population has fluctuated during this period, from a low of 3,624 in 2018 to 4,641 in 2022, which may have influenced rental demand and prices.

In 2023 and 2024, the housing market in zip code 65079 continued its upward trend. The average home price reached $391,221 in 2023 and further increased to $399,691 in 2024, representing a 2.7% year-over-year growth. Notably, federal interest rates rose significantly to 5.02% in 2023 and 5.33% in 2024, marking the highest rates in over a decade. Despite these higher interest rates, the housing market in this area has shown resilience with continued price appreciation.

Looking ahead, based on the historical data and recent trends, we can project potential scenarios for the next five years. Average home prices in zip code 65079 could potentially reach around $450,000 to $475,000 by 2029, assuming a conservative annual growth rate of 3-4%. Average rent prices might stabilize around $1,100 to $1,200 per month, factoring in the area's historical rent volatility and potential market corrections.

In summary, zip code 65079 demonstrates a robust housing market characterized by high homeownership rates and steadily increasing property values. The area has shown resilience in the face of rising interest rates, maintaining strong homeownership levels. The rental market, while smaller, has seen significant price increases over the past decade. As we move forward, the interplay between interest rates, population changes, and broader economic factors will continue to shape the housing landscape in this Missouri community.