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Zip Code 68136: Rising Home Values and High Ownership in Gretna, Nebraska
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 68136, located in Gretna, Nebraska, has experienced significant growth and development over the past decade. This area has seen a notable increase in population, rising from 11,010 in 2010 to 18,622 in 2022, reflecting a vibrant and expanding community. The ownership percentage has remained relatively stable, while average home prices and average rent prices have shown consistent upward trends.
The homeownership rate in zip code 68136 has fluctuated slightly but remained high, ranging from 85% to 90% between 2013 and 2022. During this period, average home prices increased steadily from $219,489 in 2013 to $385,064 in 2022, representing a 75% increase. This trend suggests a strong correlation between the stable homeownership rates and rising property values. For instance, in 2017, when the homeownership rate was 87%, the average home price was $265,266. By 2022, with a 90% homeownership rate, the average home price had risen to $385,064, indicating a robust housing market despite the slight variations in ownership percentages.
Federal interest rates have played a significant role in homeownership trends. From 2013 to 2020, interest rates remained relatively low, ranging from 0.09% to 2.16%. This period coincided with the highest homeownership rates in the zip code, peaking at 89% from 2013 to 2016. The low interest rates likely contributed to more affordable financing options, encouraging homeownership. As interest rates began to rise more sharply in 2022 to 1.68%, the homeownership rate remained high at 90%, suggesting a resilient local housing market.
The renter percentage in zip code 68136 has remained relatively low, ranging from 10% to 15% between 2013 and 2022. During this period, average rent prices increased from $1,286 in 2013 to $1,710 in 2022, a 33% increase. The population growth from 13,051 in 2013 to 18,622 in 2022 likely contributed to the rising rent prices due to increased demand. For example, in 2017, when the renter percentage was 13%, the average rent was $1,579. By 2022, with a 10% renter occupancy, the average rent had increased to $1,710, indicating that even with a lower percentage of renters, demand remained strong enough to support higher rental prices.
In 2023 and 2024, the housing market in zip code 68136 continued to show strength. The average home price in 2023 was $397,701, and in 2024 it further increased to $405,085. This represents a 3.3% year-over-year increase from 2022 to 2023 and a 1.9% increase from 2023 to 2024. Concurrently, federal interest rates rose significantly to 5.02% in 2023 and 5.33% in 2024, which may impact future homeownership trends and housing affordability in the area.
Looking ahead, based on historical trends and current market conditions, it's projected that average home prices in zip code 68136 will continue to rise over the next five years, albeit at a potentially slower rate due to higher interest rates. Average home prices could reach approximately $450,000 by 2029. Average rent prices are also expected to increase, potentially reaching around $2,000 per month in the same timeframe, driven by population growth and housing demand.
In summary, zip code 68136 has demonstrated a robust housing market characterized by high homeownership rates, steadily increasing average home prices, and rising average rent prices. The area's population growth, coupled with historically low interest rates, has contributed to a strong real estate environment. Despite recent increases in interest rates, the market has shown resilience, suggesting a continued positive outlook for both homeowners and investors in this Gretna, Nebraska zip code.
