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Zip Code 80131: Louviers's High Homeownership and Rising Home Values
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 80131, located in Louviers, Colorado, is a small but growing community that has seen significant changes in homeownership and property values over the past decade. This area has maintained consistently high homeownership rates, typically above 90%, while experiencing substantial growth in average home prices.
The homeownership rate in zip code 80131 has remained remarkably stable, fluctuating between 90% and 100% from 2013 to 2022. During this period, average home prices have shown a steady upward trend. In 2010, the average home price was $198,404, which increased to $519,901 by 2022, representing a significant 162% growth over 12 years. This trend suggests a strong correlation between sustained high homeownership rates and rising property values in the area.
Federal interest rates have played a role in homeownership trends in zip code 80131. The period from 2010 to 2015 saw historically low interest rates, ranging from 0.09% to 0.18%. During this time, homeownership rates remained consistently high, above 90%. As interest rates began to rise gradually from 2016 onwards, reaching 1.68% in 2022, the homeownership rate in the zip code actually increased slightly from 95% in 2017 to 96% in 2022, demonstrating the area's resilience to moderate interest rate changes.
Renter percentages in zip code 80131 have been consistently low, typically around 5% when data is available. The average rent prices have fluctuated over the years, with some notable changes. In 2013, the average rent was $1,750, which remained stable until 2015. There was a decrease to $1,304 in 2016, followed by slight variations in subsequent years. By 2022, the average rent had decreased slightly to $1,334. These fluctuations in rent prices, coupled with the low renter percentages, suggest a limited rental market in the area.
Looking at the most recent data, the average home price in zip code 80131 reached $521,819 in 2023 and further increased to $525,949 in 2024. This represents a modest growth of 0.79% from 2023 to 2024, indicating a continued upward trend in property values. Notably, federal interest rates have also risen significantly, reaching 5.02% in 2023 and 5.33% in 2024, which could potentially impact future homeownership rates and property values.
Applying predictive models to forecast 5-year trends, we can expect average home prices in zip code 80131 to continue their upward trajectory, albeit at a potentially slower rate due to higher interest rates. Average home prices could reach approximately $575,000 to $600,000 by 2029. Rent prices may see modest increases, potentially reaching around $1,500 to $1,600 per month in the same period, assuming the rental market remains limited in this predominantly owner-occupied area.
In summary, zip code 80131 demonstrates a robust housing market characterized by consistently high homeownership rates and steadily increasing property values. Despite rising interest rates, the area has maintained its appeal to homeowners. The limited rental market has shown some fluctuations but remains a small portion of the housing landscape. As the community continues to grow, it will be interesting to observe how these trends evolve in response to broader economic factors and local development.
