The Lykins neighborhood in Kansas City, Missouri, has experienced notable changes in homeownership rates and significant growth in average home prices over the past decade. From 2013 to 2022, homeownership rates in Lykins fluctuated between 35% and 43%, showing a slight overall increase from 42% in 2013 to 43% in 2020, before declining to 38% in 2022. During this same period, average home prices in the neighborhood demonstrated remarkable appreciation, rising from $19,635 in 2013 to $94,140 in 2022, representing a substantial 379% increase over nine years. This significant growth in home values did not directly correlate with an increase in homeownership rates, indicating that other factors influenced housing decisions in the area.

Federal interest rates played a role in shaping homeownership trends in Lykins. From 2013 to 2016, when interest rates were exceptionally low (ranging from 0.09% to 0.40%), homeownership rates fluctuated between 35% and 42%. As interest rates began to rise more significantly from 2017 (1%) to 2019 (2.16%), homeownership rates stabilized around 39-42%. The sharp drop in interest rates in 2020 (0.38%) and 2021 (0.08%) coincided with a peak in homeownership at 43% in 2020, demonstrating how lower interest rates can encourage home buying.

Renter percentages in Lykins generally mirrored the inverse of homeownership rates, ranging from 57% to 65% between 2013 and 2022. The highest renter percentage was observed in 2015 at 65%, coinciding with one of the lowest average rent prices of $651. Average rent prices showed volatility, starting at $714 in 2013, dropping to $651 in 2015, then peaking at $901 in 2017 before settling at $849 in 2022. Despite these fluctuations, the overall trend shows a 19% increase in average rent from 2013 to 2022. The population of Lykins decreased from 4,261 in 2013 to 4,141 in 2022, which may have influenced the rental market dynamics.