Renter percentages in zip code 89012 have shown a slight decrease over time, moving from 37% in 2013 to 36% in 2022. Interestingly, average rent prices have increased during this period, rising from $1,492 in 2013 to $1,708 in 2022, a 14.5% increase. This trend suggests that despite rising rent costs, the proportion of renters in the area has remained relatively stable. The population growth in the zip code, which increased from 26,590 in 2013 to 36,240 in 2022, may have contributed to the sustained demand for rental properties despite rising costs.

Looking at the most recent data, the average home price in zip code 89012 for 2023 was $497,952, showing a slight decrease from the 2022 peak. However, in 2024, the average home price has rebounded to $513,223. This recent uptick occurs despite the federal interest rate reaching 5.33% in 2024, which is significantly higher than in previous years.

Applying predictive models to forecast 5-year trends, we anticipate that average home prices in zip code 89012 will continue to rise, albeit at a more moderate pace than seen in the early 2020s. The area's consistent population growth and desirability may continue to drive demand. Average rent prices are also expected to increase, following the historical trend, but potentially at a slower rate due to the area's stable renter population and the overall housing market dynamics.

In summary, zip code 89012 has demonstrated resilience in its housing market, with steadily increasing average home prices and average rent costs over the past decade. The area has maintained a relatively stable balance between homeowners and renters despite significant price appreciation. The recent rebound in average home prices, even in the face of higher interest rates, suggests ongoing demand in this Henderson neighborhood. As the area continues to evolve, it will be crucial to monitor how these housing trends interact with population growth and broader economic factors.