Conversely, the percentage of renters in Grandview has decreased over time, from 29% in 2013 to 13% in 2022. Despite this decline in the renter population, average rent prices have shown an upward trend. In 2013, the average rent was $328, which increased to $777 by 2022, representing a substantial 136.9% increase. This rise in rent prices occurred despite a decreasing population, from 867 in 2013 to 478 in 2022, suggesting that factors other than population growth were driving rent increases.

Looking at the most recent data, the average home price in Grandview for 2023 was $140,931, and for 2024 it is $144,714, showing a continued upward trend. The federal interest rates for these years are 5.02% and 5.33% respectively, which are significantly higher than the rates seen in the previous decade. These higher interest rates could potentially impact future homeownership trends in the city.

Applying predictive models to forecast 5-year trends, we can anticipate that average home prices in Grandview may continue to rise, albeit at a potentially slower rate due to higher interest rates. The average home price could potentially reach around $160,000 by 2029. Rent prices may also continue their upward trajectory, possibly reaching an average of $900-$950 per month in the next five years if current trends persist.

In summary, Grandview has experienced a significant shift towards homeownership over the past decade, with homeownership rates increasing from 71% to 87% between 2013 and 2022. This trend coincided with rising home prices and a period of low interest rates. Simultaneously, the renter population decreased, but average rent prices more than doubled. The city's declining population during this period adds complexity to these trends, suggesting that local economic factors beyond population growth are influencing housing dynamics in Grandview.