The rental market in zip code 91739 has shown some interesting trends. The percentage of renters decreased from 30% in 2016 to 26% in 2022. However, despite this decrease in the renter population, average rent prices have continued to rise. In 2016, the average rent was $2,227, which increased to $2,445 by 2022, a 9.8% increase. This trend suggests that while fewer people are renting, those who do rent are facing higher costs, possibly due to increased demand for the limited rental properties available or improvements in the quality of rental units.

Looking at the most recent data, the average home price in zip code 91739 slightly decreased from $918,676 in 2022 to $914,844 in 2023, a minor 0.4% drop. However, in 2024, the average home price rebounded to $952,720, representing a 4.1% increase from 2023. Interestingly, this price increase occurred despite a significant rise in federal interest rates, which jumped from 5.02% in 2023 to 5.33% in 2024. This suggests a strong local housing market that can withstand higher borrowing costs.

Applying predictive models to forecast 5-year trends, we anticipate that average home prices in zip code 91739 will continue to rise, albeit at a more moderate pace. Based on historical data and current economic conditions, we project average home prices could reach approximately $1,100,000 by 2029. For average rent prices, we expect a continued upward trend, potentially reaching around $2,800 per month in the next five years.

In summary, zip code 91739 has demonstrated a robust housing market with increasing homeownership rates and rising property values. The area has shown resilience to fluctuating interest rates, maintaining strong home prices even in the face of recent rate hikes. While the rental market has seen a decrease in the percentage of renters, average rent prices have continued to climb, indicating a competitive rental landscape. These trends suggest a desirable and growing community with a strong preference for homeownership.