The rental market in Norble and Gregory Ridge has shown an inverse relationship to homeownership rates. The percentage of renters increased from 42% in 2013 to 46% in 2022. Average rent prices during this period fluctuated, starting at $879 in 2013, peaking at $978 in 2016, and then settling at $901 in 2022. Despite these fluctuations, the overall trend indicates a slight increase in average rent prices over the decade. In 2023, the average home price in Norble and Gregory Ridge continued its upward trend, reaching $101,785. The federal interest rate in 2023 was significantly higher at 5.02%. Moving into 2024, the average home price has further increased to $110,734, while the federal interest rate has risen slightly to 5.33%. These higher interest rates could potentially impact home affordability and future ownership rates in the neighborhood. Based on historical data and current trends, projections suggest that average home prices in Norble and Gregory Ridge will continue to rise over the next five years, although potentially at a slower rate due to higher interest rates. Average rent prices are also expected to increase moderately, influenced by factors such as housing demand and overall economic conditions in Kansas City. In conclusion, Norble and Gregory Ridge has experienced significant growth in average home prices over the past decade, with some fluctuations in homeownership rates. The relationship between interest rates and homeownership is evident, with lower rates generally corresponding to higher ownership percentages. The rental market has shown resilience, with a slight upward trend in both renter percentages and average rent prices. The neighborhood's housing market appears to be dynamic, reflecting broader economic trends and local market conditions.