Renter percentages in Fremont Hills have generally decreased as homeownership increased. The renter-occupied rate dropped from 24% in 2014 to 15% in 2022. Despite this decline, average rent prices have shown an upward trend. In 2014, the average rent was $671, which increased to $878 by 2022, a 30.8% rise. This increase in rent prices occurred even as the city's population grew from 854 in 2014 to 1,100 in 2022, suggesting a tightening rental market despite the overall preference for homeownership.

In 2023 and 2024, Fremont Hills saw continued growth in average home prices, reaching $522,495 in 2023 and $535,098 in 2024. This represents a 6.2% increase from 2022 to 2024. Interestingly, this growth occurred despite a significant rise in federal interest rates, which jumped to 5.02% in 2023 and 5.33% in 2024. These higher interest rates typically make borrowing more expensive, yet the housing market in Fremont Hills has shown resilience.

Looking ahead, based on the observed trends, we can expect average home prices in Fremont Hills to continue rising, albeit potentially at a slower rate due to higher interest rates. A 5-year forecast suggests average home prices could reach approximately $600,000 by 2029. Average rent prices are also likely to increase, potentially reaching around $1,000 per month in the same timeframe, driven by the city's growing population and the limited supply of rental properties.

In summary, Fremont Hills has experienced a strong trend towards homeownership, accompanied by substantial increases in both average home prices and rent prices. The city's real estate market has shown resilience in the face of rising interest rates, with continued growth in home values. These trends point to a robust and desirable housing market in Fremont Hills, with a clear preference for homeownership among its residents.