The rental market in Palestine West and Oak Park Northeast has shown an inverse relationship to homeownership trends in recent years. In 2013, 41% of residents were renters, with an average rent of $1,849. By 2022, the percentage of renters had decreased to 34%, while the average rent had dropped to $1,142. This trend could be attributed to the increasing homeownership rates and potential changes in the neighborhood's demographics. The fluctuating population, which grew from 657 in 2013 to 955 in 2022, may have also played a role in shaping the rental market dynamics. The neighborhood continued to see growth in average home prices in 2023 and 2024. The average home price reached $68,203 in 2023 and further increased to $77,431 in 2024, representing a 13.5% year-over-year increase. During this time, federal interest rates rose significantly, reaching 5.02% in 2023 and 5.33% in 2024, which could potentially impact future homeownership trends. Based on the historical data and current trends, we can project the following 5-year trends for average home and rent prices in the neighborhood: 1. Average home prices are expected to continue their upward trajectory, though possibly at a slower rate due to higher interest rates. By 2029, average home prices could reach between $100,000 and $120,000. 2. Average rent prices may stabilize or show modest increases as the rental market adjusts to changing demand. Projected average rents could range from $1,300 to $1,600 by 2029. In conclusion, Palestine West and Oak Park Northeast has experienced a significant increase in homeownership rates and average home prices over the past decade. The neighborhood has demonstrated resilience in maintaining homeownership levels despite rising interest rates. Concurrently, the rental market has seen a decrease in both the percentage of renters and average rent prices. As the area continues to evolve, it will be important to monitor how these housing trends interact with population changes and broader economic factors.