Renter percentages in Grandview have consistently been high, ranging from 79% to 83% between 2013 and 2022. Average rent prices have steadily increased over this period, rising from $1,446 in 2013 to $1,866 in 2022, a 29% increase. The high renter percentage combined with rising rent prices indicates a strong demand for rental properties in the area. The population of Grandview has remained relatively stable during this period, with 11,846 residents in 2013 and 11,583 in 2022, suggesting that the increase in rent prices is driven by market factors rather than population growth.

In 2023, the average home price in Grandview reached $1,054,915, with interest rates climbing to 5.02%. By 2024, the average home price further increased to $1,100,123, while interest rates rose slightly to 5.33%. These figures represent a continuation of the upward trend in home prices, albeit at a slower pace compared to previous years. The higher interest rates may be contributing to a moderation in price growth.

Predictive models suggest that average home prices in Grandview may continue to rise over the next five years, but at a more modest rate compared to the rapid increases seen in the past decade. Average rent prices are also expected to continue their upward trajectory, potentially reaching around $2,200-$2,400 by 2029. However, these projections are subject to various economic factors and market conditions.

In conclusion, Grandview has experienced substantial growth in both average home prices and rent costs over the past decade. Despite these increases, homeownership rates have remained relatively stable, while the area continues to be predominantly renter-occupied. The recent rise in interest rates and the continued increase in housing costs may present challenges for potential homebuyers in the coming years, potentially reinforcing the neighborhood's trend towards a high proportion of renters.