Ortega, a vibrant neighborhood in Sunnyvale, California, has experienced significant changes in homeownership rates and property values over the past decade. This community, known for its mix of residential and commercial areas, has demonstrated a general trend of increasing average home prices and rent costs, while homeownership rates have fluctuated. The relationship between homeownership percentages and average home prices in Ortega reveals interesting patterns. In 2013, when the homeownership rate was 49%, the average home price was $963,759. As homeownership increased to 54% in 2016, average home prices rose to $1,462,561. This upward trend continued until 2018, with homeownership at 54% and average home prices peaking at $1,920,519. However, from 2019 to 2022, despite a slight decrease in homeownership to 48%, average home prices continued to climb, reaching $2,556,120 in 2022.

Federal interest rates have played a role in homeownership trends in Ortega. When interest rates were low, such as 0.11% in 2013, homeownership was at 49%. As rates remained low through 2016 (0.4%), homeownership increased to 54%. The slight rise in interest rates to 1.83% by 2018 coincided with homeownership maintaining at 54%. However, despite interest rates dropping to 0.38% in 2020 and 0.08% in 2021, homeownership decreased to 50% and 48% respectively, suggesting other factors were influencing homeownership decisions during this period.

Renter percentages and average rent prices in Ortega have shown a generally inverse relationship. In 2013, with 51% of residents renting, the average rent was $1,866. As the renter percentage decreased to 46% in 2016, average rent increased to $2,479. By 2019, with 48% of residents renting, average rent had risen to $2,734. The trend continued through 2022, where despite an increase in renters to 52%, average rent reached $2,959. This suggests that even as more units became available for rent, demand remained high, driving up prices.