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Zip Code 65759: Rising Home Values and High Ownership Rates in Kissee Mills, 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
Kissee Mills, located in zip code 65759 in Missouri, is a small rural community that has experienced fluctuating demographics and housing market trends over the past decade. This analysis explores the relationship between homeownership rates, average home prices, and average rent prices in this area. The homeownership rate in Kissee Mills has shown relative stability over the years, with some minor fluctuations. In 2013, the homeownership rate was 75%, which increased to 84% by 2022. This overall upward trend in homeownership coincided with a significant increase in average home prices. The average home price in 2013 was $84,795, which more than doubled to $197,624 by 2022, representing a 133% increase over nine years.
Federal interest rates have played a role in homeownership trends in Kissee Mills. The period from 2013 to 2016 saw historically low interest rates, ranging from 0.09% to 0.40%. During this time, homeownership rates remained relatively stable, hovering around 80%. As interest rates began to rise from 2017 onwards, reaching 1.68% in 2022, the homeownership rate actually increased slightly to 84%, suggesting that local factors may have had a stronger influence on homeownership than national interest rates in this particular area.
Renter percentages in Kissee Mills have generally been low, fluctuating between 16% and 25% from 2013 to 2022. The average rent prices have shown considerable volatility during this period. In 2013, the average rent was $719, which peaked at $839 in 2021 before dropping to $660 in 2022. This represents a 16.7% decrease in average rent from its peak to the most recent data point. Interestingly, the population of Kissee Mills has also fluctuated, reaching a low of 1,367 in 2017 and a high of 1,597 in 2020, which may have influenced rental market dynamics.
Looking at the most recent data, the average home price in Kissee Mills continued to rise, reaching $209,157 in 2023 and $211,266 in 2024. This represents a 5.8% increase from 2022 to 2023 and a further 1% increase from 2023 to 2024, indicating a slowing but still upward trend in home values. Concurrently, federal interest rates have significantly increased to 5.02% in 2023 and 5.33% in 2024, which could potentially impact future homeownership rates and housing market dynamics in the area.
Applying predictive models to forecast 5-year trends, we anticipate that average home prices in Kissee Mills will continue to rise, albeit at a slower pace due to the higher interest rate environment. We project that by 2029, average home prices could reach approximately $240,000 to $250,000, representing a 13-18% increase from 2024 levels. For average rent prices, we forecast a more modest increase, potentially reaching $700 to $750 per month by 2029, reflecting a 6-14% increase from 2022 levels, assuming economic conditions remain relatively stable.
In summary, Kissee Mills has experienced a notable increase in homeownership rates and average home prices over the past decade, despite fluctuations in population and federal interest rates. The rental market has shown more volatility, with recent trends indicating a potential stabilization. The community's ability to maintain high homeownership rates in the face of rising home prices suggests a strong local housing market, though future trends may be influenced by the recent sharp increases in interest rates and broader economic factors.
