Hooksett, New Hampshire, has experienced significant changes in its housing market over the past decade. The city has seen a shift from homeownership to renting, alongside a consistent increase in average home prices. From 2013 to 2022, the homeownership rate in Hooksett decreased from 85% to 73%, while average home prices doubled from $217,184 to $435,200. This inverse relationship suggests that rising home prices may have made homeownership less attainable for some residents, pushing them towards renting.

Federal interest rates have played a crucial role in shaping homeownership trends. Between 2013 and 2016, when interest rates were historically low (0.11% to 0.4%), homeownership rates remained stable at around 82-85%. However, as interest rates rose from 2017 onwards, reaching 1.68% in 2022, homeownership rates declined to 73%. This trend aligns with the principle that lower interest rates tend to encourage homeownership due to more affordable financing options.

The percentage of renters in Hooksett increased from 15% in 2013 to 27% in 2022. Average rent prices showed a more complex pattern, rising from $1,343 in 2013 to a peak of $1,592 in 2016, then gradually declining to $1,499 in 2022. This trend suggests that while more people are renting, the rental market has not seen consistent price increases. The population growth from 5,707 in 2013 to 7,256 in 2022 may have contributed to increased rental demand, but other factors could be influencing rent prices.