Renter percentages in Cedar Hill have fluctuated between 14% and 24% from 2013 to 2022. Average rent prices have shown some volatility during this period. In 2013, the average rent was $787, which increased to $962 by 2022, representing a 22% increase. Notably, there was a significant drop in average rent to $610 in 2017, followed by a sharp increase to $885 in 2018. These fluctuations in rent prices don't show a clear correlation with the percentage of renters, suggesting that other factors, such as local economic conditions or housing supply, may have more influence on the rental market in Cedar Hill.

In 2023 and 2024, Cedar Hill's housing market continued its upward trajectory. The average home price in 2023 was $390,642, a slight increase from 2022. In 2024, it further rose to $405,174. Concurrently, federal interest rates climbed significantly, reaching 5.02% in 2023 and 5.33% in 2024. These higher interest rates may pose challenges for potential homebuyers in the coming years.

Looking ahead, based on the historical data and current trends, it's projected that average home prices in Cedar Hill will continue to rise over the next five years, albeit potentially at a slower rate due to higher interest rates. Average home prices could reach approximately $450,000 by 2029. Average rent prices are also expected to increase, potentially reaching around $1,100 per month in the same timeframe. However, these projections assume relatively stable economic conditions and no major local policy changes.

In summary, Cedar Hill has maintained a high rate of homeownership despite significant increases in average home prices. The rental market has shown more volatility in both prices and occupancy rates. The recent sharp rise in interest rates may impact future homeownership trends and could potentially lead to increased demand for rentals. The city's housing market has demonstrated resilience and growth, reflecting its desirability as a residential community.