The renter population in Golfcrest has generally increased as homeownership rates declined. In 2013, 36% of residents were renters, and by 2022, this had grown to 43%. Interestingly, average rent prices have not consistently followed this trend. Average rent peaked at $1,137 in 2017 before declining to $880 in 2022. This decrease in average rent despite an increasing renter population could be attributed to various factors, including changes in housing supply or local economic conditions.

Looking at the most recent data, average home prices in Golfcrest continued to rise in 2023 and 2024, reaching $769,782 and $800,152 respectively. This represents a 5.9% increase from 2022 to 2024. Meanwhile, federal interest rates have also increased significantly, rising from 1.68% in 2022 to 5.02% in 2023 and 5.33% in 2024. These higher interest rates could potentially impact future homeownership rates in the neighborhood.

Based on the observed trends, some predictions can be made for the next five years. If the current trajectory continues, average home prices in Golfcrest could potentially reach around $950,000 by 2029. However, this growth rate might slow down due to the current high interest rates, which could dampen demand. Average rent prices, which have been decreasing in recent years, might stabilize or see a slight increase, potentially reaching around $950-$1,000 per month by 2029 if the trend reverses.

In summary, Golfcrest has experienced a notable shift in its housing market over the past decade. The neighborhood has seen decreasing homeownership rates alongside rapidly increasing average home prices. The renter population has grown, although average rent prices have recently decreased. With continuing rises in both home prices and interest rates, the coming years may present challenges for potential homebuyers in Golfcrest, potentially further shifting the balance between owners and renters in the neighborhood.