Plantation Park East, situated in Plantation, Florida, has experienced significant changes in its housing market over the past decade. This neighborhood has witnessed fluctuations in homeownership rates, alongside substantial increases in both average home prices and average rent prices. The trend in homeownership has been characterized by a general decline followed by a recent uptick. In 2013, the homeownership rate stood at 70%, but it steadily decreased to 52% by 2018. However, there has been a reversal in this trend, with homeownership rising to 65% in 2022. Concurrently, average home prices have shown a consistent upward trajectory. In 2013, the average home price was $137,109, which more than tripled to $416,939 by 2022, representing a remarkable 204% increase over this period.

Federal interest rates have played a significant role in shaping homeownership trends in Plantation Park East. The period from 2013 to 2016 saw historically low interest rates, ranging from 0.11% to 0.40%. During this time, homeownership rates initially remained high but began to decline, possibly due to rapidly increasing home prices outpacing the benefits of low interest rates. As interest rates started to rise more significantly from 2017 (1%) to 2019 (2.16%), homeownership rates continued to decline. However, the sharp drop in interest rates in 2020 (0.38%) and 2021 (0.08%) coincided with a rebound in homeownership, suggesting that extremely low rates may have encouraged more buyers to enter the market despite high home prices.

The rental market in Plantation Park East has also experienced notable changes. The percentage of renters increased from 30% in 2013 to a peak of 48% in 2018, before decreasing to 35% in 2022. Average rent prices have shown a general upward trend, rising from $1,156 in 2013 to $1,370 in 2022, an increase of 18.5%. The population growth from 8,567 in 2013 to 10,681 in 2022 likely contributed to the increased demand for rental properties and the subsequent rise in rent prices.