Jordan Heights/Old Fairgrounds, a neighborhood in Allentown, Pennsylvania, has experienced significant changes in its housing market over the past decade. The area has seen a notable decline in homeownership rates, dropping from 33% in 2013 to 21% in 2022. Simultaneously, average home prices have surged dramatically, rising from $38,596 in 2013 to $139,865 in 2022, representing a 262% increase. This inverse relationship between homeownership rates and home prices suggests that rising property values may be making it more difficult for potential homebuyers to enter the market.

The trends in homeownership rates show some correlation with federal interest rates, although the relationship is not always straightforward. For instance, from 2013 to 2015, relatively low interest rates (0.11% to 0.13%) coincided with a slight decrease in homeownership from 33% to 25%. As interest rates began to rise more significantly from 2016 onwards, reaching 1.68% by 2022, the homeownership rate remained relatively stable around 25-27% before dropping to 21% in 2022. This indicates that while interest rates play a role, other factors such as local economic conditions and housing supply also significantly influence homeownership trends.

The renter population in Jordan Heights/Old Fairgrounds has grown considerably, with the percentage of renter-occupied units increasing from 67% in 2013 to 79% in 2022. This shift coincides with a steady rise in average rent prices, which increased from $804 in 2013 to $1,165 in 2022, a 45% increase. The growing renter population, combined with rising rent prices, indicates a strong demand for rental properties in the area. This trend is further supported by the neighborhood's population growth, which increased from 6,691 in 2013 to 8,816 in 2022, potentially driving up demand for housing and contributing to the rise in both home prices and rents.