N. Marketview Heights, a neighborhood in Rochester, New York, has experienced significant changes in its housing market over the past decade. The area has seen a gradual increase in homeownership rates, rising from 38% in 2013 to 42% in 2022. This trend coincides with substantial growth in average home prices, which more than doubled from $37,790 in 2010 to $78,487 in 2022. The relationship between homeownership and average home prices appears to be positive, with both generally increasing over time, albeit at different rates.

Federal interest rates have played a crucial role in shaping homeownership trends in N. Marketview Heights. The period from 2010 to 2015 saw historically low interest rates, ranging from 0.09% to 0.18%. During this time, homeownership rates remained relatively stable, hovering around 37-38%. As interest rates began to rise from 2016 onwards, reaching 1.68% in 2022, homeownership rates surprisingly increased to 42%. This counter-intuitive trend suggests that other local factors may have influenced homeownership decisions more strongly than national interest rates.

Renter percentages in N. Marketview Heights have shown a slight decline, decreasing from 62% in 2013 to 58% in 2022. This trend has been accompanied by a steady increase in average rent prices, rising from $763 in 2013 to $1,097 in 2022, representing a 43.8% increase over nine years. The inverse relationship between renter percentages and average rent prices suggests that rising rents may have encouraged some residents to transition to homeownership, particularly as home prices became more attractive relative to rental costs.