Renter percentages in Boywood Forest have inversely mirrored the homeownership trends, decreasing from 32% in 2013 to 20% in 2022. Average rent prices have shown volatility during this period, starting at $544 in 2013, increasing to $803 in 2016, before decreasing to $659 in 2017, and rising to $693 by 2022. The fluctuations in rent prices don't appear to directly correlate with the declining renter percentage, suggesting other factors, such as local market conditions or housing supply, may have influenced these trends.

Recent data shows that the average home price in Boywood Forest reached $293,458 in 2023 and further increased to $302,328 in 2024, representing year-over-year increases of 5.3% and 3%, respectively. Concurrently, federal interest rates rose significantly to 5.02% in 2023 and 5.33% in 2024, marking a substantial increase from the low rates seen in previous years.

Applying predictive models to forecast 5-year trends, average home prices in Boywood Forest are anticipated to continue rising, albeit at a more moderate pace. Given the current high interest rates, we may see a slight cooling in the housing market, potentially leading to a 3-4% annual increase in average home prices over the next five years. Rent prices are expected to follow a similar trend, with projected annual increases of 2-3%, assuming stable economic conditions and no significant changes in local housing policies.

In summary, Boywood Forest has experienced a notable increase in homeownership rates and average home prices over the past decade. The inverse relationship between homeownership and renter percentages, coupled with the influence of federal interest rates, has shaped the neighborhood's housing market dynamics. While recent years have seen substantial growth in home values, the current high interest rate environment may moderate future price increases. These trends suggest a continuing evolution of Boywood Forest's housing landscape in the coming years.