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Zip Code 95843: Stable Homeownership Amidst Rising Home Values in Antelope, California
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 95843, located in Antelope, California, has experienced notable fluctuations in homeownership rates and housing prices over the past decade. This area has seen a general trend of increasing average home prices and average rent costs, while homeownership rates have remained relatively stable with slight variations.
The ownership percentage in zip code 95843 has shown resilience, maintaining a range between 64% and 68% from 2013 to 2022. In 2013, the homeownership rate was 68%, and it remained at this level in 2022, despite some fluctuations in between. Interestingly, this stability in homeownership coincided with a significant increase in average home prices. The average home price in 2013 was $216,947, which rose dramatically to $536,974 by 2022, representing a 147% increase over this period. This suggests that while home prices have increased substantially, residents in this area have managed to maintain their homeownership status.
The relationship between federal interest rates and homeownership rates in this zip code shows some correlation. For instance, when interest rates were at historic lows between 2013 and 2016 (ranging from 0.11% to 0.4%), homeownership rates remained relatively high, between 64% and 68%. As interest rates began to rise more significantly from 2017 onwards, there was a slight dip in homeownership to 64% in 2016, but it quickly rebounded and stabilized around 67-68% in subsequent years. This resilience in homeownership despite rising interest rates and home prices suggests strong local market factors at play.
Renter percentages in zip code 95843 have remained relatively stable, ranging from 32% to 36% between 2013 and 2022. The average rent prices, however, have shown a steady increase. In 2013, the average rent was $1,566, which rose to $1,742 by 2022, marking an 11.2% increase. This increase in rent prices, while significant, was not as dramatic as the rise in home prices over the same period. The population in this zip code has remained relatively stable, growing from 47,723 in 2013 to 48,061 in 2022, which may have contributed to the steady demand for rental properties.
Looking at the most recent data, the average home price in zip code 95843 was $503,212 in 2023, showing a slight decrease from the 2022 peak. In 2024, the average home price has increased slightly to $511,507. This recent trend coincides with higher interest rates, which were 5.02% in 2023 and 5.33% in 2024, potentially impacting home buying decisions and prices.
Applying predictive models to forecast 5-year trends, we can expect average home prices in zip code 95843 to continue a moderate upward trajectory, albeit at a slower pace than seen in recent years. This prediction is based on the historical growth pattern and recent stabilization. Average rent prices are likely to continue their steady increase, potentially outpacing inflation as demand for housing in the area remains strong.
In summary, zip code 95843 has demonstrated remarkable resilience in homeownership rates despite significant increases in average home prices. The area has seen substantial appreciation in property values, with average home prices more than doubling over a decade. Rent prices have also increased, but at a more modest rate. The stability in population and the balance between owners and renters suggest a well-established community with strong housing demand. Future trends indicate continued growth in both home prices and rents, albeit at a more moderate pace, reflecting the area's desirability and economic stability.
