As homeownership declined, the percentage of renters in Flordell Hills increased significantly from 52% in 2013 to 76% in 2022. Average rent prices saw a modest increase from $968 in 2013 to $1,130 in 2022, a rise of about 17%. This relatively small increase in rent compared to home prices may have made renting a more attractive option for many residents. The city's population also grew from 663 in 2013 to 1,080 in 2022, likely contributing to increased demand for rental properties.

In 2023 and 2024, the housing market in Flordell Hills continued to evolve. The average home price reached $54,387 in 2023 but slightly decreased to $52,484 in 2024. This dip coincides with a significant increase in federal interest rates, which rose to 5.02% in 2023 and 5.33% in 2024. These higher interest rates may have cooled the housing market somewhat, leading to the observed price adjustment.

Predictive models suggest that average home prices in Flordell Hills may continue to rise, but at a more moderate pace than seen in recent years. Over the next five years, home prices could potentially increase by 15-20%, reaching around $60,000-$63,000 by 2029. Average rent prices are also expected to continue their upward trend, potentially increasing by 10-15% over the next five years, which could put the average rent at approximately $1,300-$1,350 by 2029.

In summary, Flordell Hills has experienced a significant shift from homeownership to renting over the past decade, driven by rapidly increasing home prices and despite historically low interest rates for much of that period. The rental market has absorbed much of this shift, with more modest increases in rent prices. Recent data shows a slight cooling in the housing market, possibly due to rising interest rates. Future trends suggest continued but more moderate growth in both home prices and rents, potentially maintaining the city's status as a predominantly renter-occupied area.