Renter percentages in Layton Lakes have generally decreased as homeownership rates increased. The percentage of renter-occupied homes dropped from 26% in 2013 to 16% in 2022. Despite this decline in the renter population, average rent prices have shown an upward trend. In 2013, the average rent was $1,972, which increased to $2,140 by 2022, representing an 8.5% increase. This rise in rent prices occurred even as the renter population decreased, possibly due to the overall increase in property values and the growing desirability of the area.

In 2023 and 2024, Layton Lakes experienced some interesting developments in its housing market. The average home price in 2023 was $652,206, showing a slight decrease from the 2022 peak of $692,272. However, in 2024, the average home price rebounded to $674,986. This occurred despite the federal interest rate rising to 5.02% in 2023 and further to 5.33% in 2024, which are significantly higher rates compared to the previous decade.

Looking ahead, predictive models suggest that average home prices in Layton Lakes may continue to rise over the next five years, albeit at a potentially slower rate than observed in the past decade. This projection is based on the area's consistent population growth and the desirability of the neighborhood. Average rent prices are also expected to increase moderately, reflecting the overall trend of rising property values in the area.

In summary, Layton Lakes has demonstrated a strong trend towards homeownership, with a significant increase in both the percentage of owner-occupied homes and average home prices over the past decade. While the renter population has decreased, average rent prices have continued to rise. The neighborhood has shown resilience in its housing market, maintaining high home values even in the face of rising interest rates. These trends suggest that Layton Lakes remains an attractive area for both homeowners and investors, with potential for continued growth in property values in the coming years.