Moneta Gardens, a neighborhood in Hawthorne, California, has experienced significant changes in its housing market over the past decade. This urban area is characterized by a predominantly renter-occupied community and steadily increasing average home and rent prices. The ownership percentage in Moneta Gardens has remained relatively stable, hovering around 12-13% from 2013 to 2022. Despite this consistency, average home prices have shown a remarkable upward trend. In 2013, the average home price was $297,080, which steadily increased to $711,185 by 2022, representing a 139% increase over nine years. This substantial rise in home values did not correspond with an increase in homeownership rates, suggesting that other factors, such as income levels or investment opportunities, may have influenced the local real estate market.

Federal interest rates have fluctuated over the years, potentially impacting homeownership rates. From 2013 to 2015, interest rates remained extremely low, between 0.09% and 0.13%. During this period, the homeownership rate in Moneta Gardens slightly increased from 12% to 13%. However, as interest rates began to rise from 2016 onwards, reaching 1.68% in 2022, the homeownership rate remained stable at 12%. This suggests that in Moneta Gardens, the relationship between interest rates and homeownership may be influenced by other local economic factors.

The renter percentage in Moneta Gardens has consistently been high, ranging from 87% to 88% between 2013 and 2022. Average rent prices have shown a steady increase during this period. In 2013, the average rent was $1,076, which rose to $1,322 by 2022, an increase of 22.9%. The population also grew from 26,685 in 2013 to 29,255 in 2022, a 9.6% increase. This population growth, combined with the high percentage of renters, likely contributed to the upward pressure on rent prices.