Sequoia Park, located in Denton, Texas, has experienced significant changes in its housing market over the past decade. This neighborhood has seen a general trend towards renting, with homeownership rates fluctuating but remaining relatively low. The homeownership rate varied from 15% in 2013 to 21% in 2022, with a peak of 23% in 2019. Concurrently, average home prices more than tripled, rising from $89,864 in 2012 to $270,917 in 2022, representing a substantial 201% increase over a decade. This sharp rise in home values likely contributed to the overall trend towards renting, as affordability became a growing concern for potential buyers.

The relationship between federal interest rates and homeownership rates in Sequoia Park shows some correlation. As interest rates remained low from 2013 to 2015, hovering around 0.1%, the homeownership rate held steady at 15%. When interest rates began to rise more significantly from 2016 onwards, reaching 1.68% in 2022, the homeownership rate showed some volatility but ultimately increased to 21%. This suggests that other local factors, such as job market conditions or demographic shifts, may have had a stronger influence on homeownership than interest rates alone in this neighborhood.

Renter percentages in Sequoia Park have generally remained high, ranging from 77% to 87% between 2013 and 2022. The peak of 87% renter-occupied housing was observed in 2014, coinciding with the lowest homeownership rate of 13%. Average rent prices have shown an upward trend, increasing from $859 in 2013 to $971 in 2022, a 13% rise over nine years. Interestingly, the population of the neighborhood fluctuated during this period, peaking at 2,414 residents in 2014 before declining to 1,620 in 2022. This population decrease, coupled with rising rent prices, suggests a potential shift in the neighborhood's desirability or affordability.