Broadway Pantano East, a neighborhood in Tucson, Arizona, has experienced significant changes in its real estate market and demographic composition over the past decade. From 2013 to 2022, the area saw a notable decline in homeownership rates, coupled with a substantial increase in average home prices. The homeownership rate decreased from 42% in 2013 to 35% in 2022, representing a 7% drop. Concurrently, the average home price more than doubled, rising from $130,803 in 2013 to $297,203 in 2022, marking a 127% increase over nine years. This inverse relationship between homeownership rates and average home prices suggests that rising property values may have made homeownership less accessible for many residents.

Federal interest rates have played a crucial role in shaping homeownership trends in Broadway Pantano East. From 2013 to 2016, interest rates remained historically low, ranging from 0.11% to 0.40%, and homeownership rates stayed relatively stable at around 41-42%. However, as interest rates began to rise from 2017 onwards, reaching 1.68% in 2022, homeownership rates declined more sharply, falling to 35% by 2022. This trend aligns with the general principle that higher interest rates can make mortgages less affordable, potentially discouraging homeownership.

As homeownership declined, the percentage of renters in Broadway Pantano East increased from 57% in 2013 to 65% in 2022. This 8% rise in the renter population was accompanied by fluctuations in average rent prices. The average rent was $898 in 2013, decreased to $808 in 2015, and then rose to $944 in 2022. Despite these fluctuations, the overall trend shows a 5% increase in average rent from 2013 to 2022. The neighborhood's population decreased from 7,199 in 2013 to 6,658 in 2022, which may have influenced the rental market dynamics.