The renter population in Lynndale grew considerably, with the percentage of renters increasing from 60% in 2013 to 73% in 2022. This trend aligns with the rise in average rent prices, which increased from $897 in 2013 to $909 in 2022. However, the rent price growth was not as steep as the increase in home prices, potentially making renting a more attractive option for many residents. The neighborhood's population also grew during this period, from 5,403 in 2013 to 6,016 in 2022, likely contributing to the increased demand for rental properties.

In 2023 and 2024, Lynndale's housing market continued its upward trajectory. The average home price reached $444,367 in 2023 and further increased to $452,296 in 2024, representing a 6.9% growth over these two years. This growth occurred despite a significant rise in federal interest rates, which jumped from 1.68% in 2022 to 5.02% in 2023 and 5.33% in 2024, potentially impacting affordability for prospective homebuyers.

Looking ahead, predictive models suggest that average home prices in Lynndale may continue to rise over the next five years, albeit at a more moderate pace. The rate of increase is expected to slow down due to the higher interest rates, which could dampen demand. Average rent prices are also projected to increase, driven by the growing renter population and the overall rise in housing costs. However, the rate of increase for rent prices is expected to be more gradual compared to home prices.

In summary, Lynndale has experienced a significant shift towards a renter-dominated market over the past decade, accompanied by substantial increases in both average home prices and average rent prices. The neighborhood's growing population and rising housing costs have contributed to these trends, while fluctuations in federal interest rates have added complexity to the homeownership landscape. As Lynndale continues to evolve, these housing market dynamics will likely play a crucial role in shaping the neighborhood's future development and community composition.