Loading Content...
Eagle Ranch: Soaring Home Values and Ownership Rates in Fort Worth
CATEGORY
Property Value
DATA
Percent Owner Occupied
Housing Prices
Median Rent
Population
Loading Content...
Property Value
Percent Owner Occupied
Housing Prices
Median Rent
Population
Eagle Ranch, a neighborhood in Fort Worth, Texas, has experienced significant growth and transformation over the past decade. This community has seen a notable increase in homeownership rates, coupled with rising average home prices and average rent prices. The neighborhood's development reflects broader economic trends and local market dynamics. The homeownership rate in Eagle Ranch has shown a remarkable upward trend, increasing from 63% in 2013 to 81% in 2022. This substantial rise in homeownership coincides with a significant increase in average home prices. In 2013, the average home price was $185,895, which steadily climbed to $414,449 by 2022, representing a 123% increase over nine years. This strong correlation between rising homeownership rates and increasing home values suggests a growing desirability of the neighborhood and a robust local real estate market.
Federal interest rates have played a crucial role in shaping homeownership trends in Eagle Ranch. The period from 2013 to 2016 saw historically low interest rates, ranging from 0.11% to 0.40%. During this time, homeownership in the neighborhood increased from 63% to 64%. As interest rates began to rise more significantly from 2017 (1%) to 2019 (2.16%), homeownership continued to climb, reaching 81% by 2019. This trend suggests that despite rising interest rates, other factors such as neighborhood development and local economic conditions may have had a stronger influence on homeownership decisions in Eagle Ranch.
The rental market in Eagle Ranch has experienced its own set of dynamics. As homeownership rates increased, the percentage of renters naturally decreased, falling from 37% in 2013 to 19% in 2022. Despite this decline in the renter population, average rent prices have shown an upward trend. The average rent price rose from $1,486 in 2013 to $2,424 in 2022, a 63% increase. This rise in rent prices, even as the renter population decreased, may indicate a higher quality of rental properties or increased demand for the limited rental inventory in the neighborhood.
Looking at the most recent data, the average home price in Eagle Ranch slightly decreased to $407,461 in 2023 and further to $402,019 in 2024. This represents a modest 3% decline from the 2022 peak. Concurrently, federal interest rates have risen significantly, reaching 5.02% in 2023 and 5.33% in 2024. These higher interest rates may be contributing to the slight cooling in home prices, as higher borrowing costs can impact affordability and demand.
Applying predictive models to forecast 5-year trends, we anticipate that average home prices in Eagle Ranch may experience a period of stabilization or modest growth. The current higher interest rate environment could temper rapid price increases seen in previous years. However, the neighborhood's established desirability and limited housing supply could support continued, albeit more moderate, price appreciation. Average rent prices are projected to maintain an upward trajectory, albeit at a slower pace, driven by the neighborhood's appeal and the overall housing market conditions in Fort Worth.
In summary, Eagle Ranch has demonstrated a strong trend towards homeownership, with significant increases in both the percentage of owner-occupied homes and average home prices over the past decade. The rental market, while shrinking in terms of population, has seen substantial increases in average rent prices. Recent data suggests a slight cooling in the housing market, potentially influenced by rising interest rates. Moving forward, Eagle Ranch is likely to continue its evolution as a predominantly owner-occupied neighborhood, with housing and rental prices reflecting its desirability and broader economic conditions.
