The rental market in Onate also underwent changes during this period. The percentage of renters decreased from 38% in 2013 to 32% in 2022. Despite this decline, average rent prices showed an overall upward trend, rising from $905 in 2013 to $1,048 in 2022, an increase of about 16%. This suggests that even as fewer residents opted for renting, demand for rental properties remained strong enough to drive up prices. In 2023 and 2024, Onate's real estate market continued its upward trajectory. The average home price reached $361,621 in 2023 and further increased to $379,437 in 2024, representing a 9.6% increase over two years. Concurrently, federal interest rates rose significantly, reaching 5.02% in 2023 and 5.33% in 2024, which could potentially impact future homeownership trends.

Predictive models suggest that average home prices in Onate may continue to rise over the next five years, potentially reaching around $450,000 by 2029 if current trends persist. Average rent prices are also expected to increase, potentially surpassing $1,200 per month within the same timeframe. However, these projections are subject to various economic factors and market conditions.

Onate has demonstrated a clear trend towards increased homeownership and rising property values over the past decade. The neighborhood has shown resilience in its housing market, with both home prices and rent rates increasing despite fluctuations in the broader economy. The recent sharp rise in interest rates, coupled with consistently increasing home prices, may present new challenges for potential homebuyers in the coming years, potentially affecting the balance between ownership and renting in this Albuquerque neighborhood.