The Lewis and Clark neighborhood in Missoula, Montana, has experienced significant changes in homeownership rates and property values over the past decade. This community, known for its proximity to the University of Montana and scenic outdoor amenities, has seen fluctuations in its residential landscape that reflect broader economic trends. From 2013 to 2022, homeownership rates in Lewis and Clark increased from 39% to 46%, coinciding with a substantial rise in average home prices. In 2013, the average home price was $239,578, more than doubling to $535,073 by 2022. This significant appreciation in property values likely contributed to the growing appeal of homeownership in the area.

The relationship between federal interest rates and homeownership rates in Lewis and Clark follows traditional economic patterns. As interest rates remained low throughout much of the 2010s, hovering around 0.1% to 0.4% from 2011 to 2016, homeownership rates in the neighborhood increased. The relatively affordable financing options during this period likely encouraged more residents to purchase homes. However, as interest rates began to rise more sharply from 2017 onwards, reaching 1.68% in 2022, the growth in homeownership rates stabilized, maintaining at 46% from 2020 to 2022.

Renter percentages in Lewis and Clark have inversely mirrored the homeownership trends, decreasing from 61% in 2013 to 54% in 2022. Average rent prices have shown volatility during this period. In 2013, the average rent was $1,026, which decreased to $752 in 2020 before rising again to $964 in 2021 and then dropping to $748 in 2022. This fluctuation in rent prices, particularly the sharp decrease in 2022, may be attributed to changes in housing supply or local economic factors affecting the rental market.