The rental market in Graceland Park has shown an inverse relationship to homeownership trends. Renter percentages decreased from 21% in 2013 to 17% in 2019, before rising to 23% in 2022. Average rent prices followed an upward trajectory, increasing from $1,307 in 2013 to $1,638 in 2022, a 25% rise. The peak average rent of $1,663 was recorded in 2021, coinciding with very low interest rates and high homeownership rates. Recent data reveals continued growth in the Graceland Park housing market. Average home prices reached $197,179 in 2023 and further increased to $205,079 in 2024, despite sharp rises in federal interest rates to 5.02% and 5.33% in those years, respectively. This sustained appreciation indicates strong underlying demand for housing in the neighborhood. Looking ahead, predictive models forecast continued appreciation in Graceland Park's housing market over the next five years, although potentially at a slower rate due to higher interest rates. Average home prices are projected to reach approximately $230,000 to $240,000 by 2029. The rental market is also expected to see growth, with average rent prices potentially reaching $1,800 to $1,900 per month in the same timeframe, driven by ongoing demand for rental properties. In conclusion, Graceland Park has exhibited a robust and resilient housing market over the past decade. The neighborhood has maintained high homeownership rates despite economic fluctuations and interest rate changes. Substantial appreciation in average home prices and steady increases in rent prices further underscore the area's strong real estate market. The community's ability to sustain strong homeownership levels and rising property values, even in the face of recent interest rate hikes, suggests a positive outlook for Graceland Park's real estate market in the coming years.