The Ott-Chrisman neighborhood in Independence, Missouri has experienced significant changes in its real estate landscape over the past decade. Average home values have shown a consistent upward trend, while homeownership rates have fluctuated. From 2013 to 2022, the area witnessed a notable increase in average home prices, rising from $47,505 to $146,612, representing a substantial 208% growth over nine years. This period also saw variations in homeownership rates, starting at 63% in 2013, dipping to 55% in 2016, and rebounding to 64% by 2022.

The relationship between federal interest rates and homeownership in Ott-Chrisman reveals interesting patterns. During the period of historically low interest rates between 2013 and 2016 (0.09% to 0.40%), homeownership rates actually decreased from 63% to 55%. This suggests that local factors may have had a more significant impact on homeownership than national interest rates during this time. However, as interest rates began to rise more substantially from 2017 onwards, homeownership rates in the neighborhood started to recover, reaching 64% by 2022 when the federal interest rate was 1.68%.

The rental market in Ott-Chrisman has also shown dynamic trends. In 2013, 37% of residents were renters, with an average rent of $802. The percentage of renters peaked at 45% in 2016, coinciding with an average rent of $818. By 2022, the renter percentage had decreased to 36%, while the average rent had risen to $888, indicating a 10.7% increase in average rent over nine years. The population of the neighborhood decreased from 3,440 in 2013 to 3,097 in 2022, which may have influenced these rental market dynamics.