As homeownership declined, the renter population in North Delaware grew significantly. The percentage of renters increased from 49% in 2017 to 63% in 2022. This shift was accompanied by a rise in average rent prices, which increased from $764 in 2017 to $978 in 2022, representing a 28% jump in just five years. The growing renter population and rising rent prices suggest a strong demand for rental properties in the area, possibly driven by those priced out of the homebuying market. The real estate market in North Delaware continued its upward trajectory in 2023 and 2024. Average home prices reached $210,856 in 2023 and further increased to $218,450 in 2024. This growth occurred despite a significant rise in federal interest rates, which stood at 5.02% in 2023 and 5.33% in 2024. These high interest rates would typically be expected to cool the housing market, yet prices have continued to climb, indicating strong underlying demand for homes in the area. Based on observed trends, projections suggest continued growth in both average home prices and rent prices over the next five years. Average home prices could potentially reach around $250,000 by 2029, assuming a similar growth rate to recent years. Average rent prices might increase to approximately $1,200 per month in the same timeframe. However, these projections could be influenced by various factors such as economic conditions, local development, and changes in federal interest rates. In conclusion, North Delaware has experienced a significant shift towards a renter-majority population, driven by rapidly increasing home prices and fluctuating interest rates. The continued rise in both home prices and rent prices, even in the face of high interest rates, suggests a strong and resilient real estate market in this Buffalo neighborhood. These trends indicate a growing demand for housing in the area, which could lead to further development and demographic changes in the coming years.