Renter percentages in zip code 81657 have generally decreased as homeownership increased. The percentage of renter-occupied homes fell from 39% in 2013 to 27% in 2021, before slightly increasing to 31% in 2022. Average rent prices, however, have shown an upward trend, rising from $1,534 in 2013 to $1,783 in 2022, an increase of 16.2% over nine years. This suggests that while fewer properties were available for rent, the demand for rental properties remained strong, driving up average rent prices.

In 2023 and 2024, average home prices in zip code 81657 continued to rise, reaching $1,825,305 in 2023 and $1,907,476 in 2024. This represents a 2.8% increase from 2023 to 2024. Concurrently, federal interest rates increased significantly to 5.02% in 2023 and 5.33% in 2024, which could potentially impact future homeownership rates and housing market dynamics in the area.

Looking ahead, based on the historical data and current trends, we can predict that average home prices in zip code 81657 may continue to increase over the next five years, albeit at a potentially slower rate due to higher interest rates. Average home prices could potentially reach around $2.2 million by 2029. Average rent prices are also likely to continue their upward trajectory, potentially reaching approximately $2,100 by 2029.

In summary, zip code 81657 has experienced a significant increase in homeownership rates and average home prices over the past decade, with a corresponding decrease in renter percentages. Despite recent fluctuations and rising interest rates, the area's housing market remains strong, likely due to its desirable location and potential for investment. The coming years may see continued growth in both home prices and rent, although the rate of increase could be moderated by higher interest rates and broader economic factors.