The percentage of renters in Celina has increased from 34% in 2013 to 42% in 2022, mirroring the decline in homeownership. Interestingly, average rent prices have shown considerable volatility during this period. In 2013, the average rent was $224, which peaked at $456 in 2015 before declining to $262 in 2019. By 2022, the average rent had risen again to $463. This fluctuation in rent prices, coupled with the increasing renter population, suggests a complex rental market influenced by various factors including housing supply, local economic conditions, and population changes.

In 2023 and 2024, Celina continued to see growth in average home prices. The average home price reached $178,875 in 2023 and further increased to $182,809 in 2024. This represents a steady upward trend in property values. Notably, federal interest rates also rose significantly during this period, reaching 5.02% in 2023 and 5.33% in 2024, which may impact future homeownership rates and housing market dynamics.

Looking ahead, based on the observed trends, it's projected that average home prices in Celina will continue to rise over the next five years, potentially reaching around $220,000 by 2029. Average rent prices are also expected to increase, possibly surpassing $550 per month within the same timeframe. These projections assume a continuation of current trends and stable economic conditions.

In summary, Celina has experienced a decline in homeownership rates coupled with a significant increase in average home prices over the past decade. The rental market has grown, with fluctuating but generally increasing rent prices. The relationship between federal interest rates and homeownership rates has been evident, with higher rates correlating with lower homeownership. As the city moves forward, it faces the challenge of balancing housing affordability with property value appreciation in an evolving economic landscape.