Rental trends in Briarwood have shown interesting fluctuations. The percentage of renters decreased from 65% in 2016 to 56% in 2022. Despite this decline, average rent prices have consistently increased, rising from $881 in 2016 to $942 in 2022, marking a 7% increase. This trend suggests that while fewer residents are renting, those who do are paying higher prices. The population decline from 2,662 in 2016 to 2,213 in 2022 may have contributed to the reduced rental demand, yet the rising rent prices indicate a potentially tightening rental market.

Recent data shows that average home prices in Briarwood continued to rise, reaching $203,011 in 2023 and $209,373 in 2024. This represents a modest but steady increase of about 3% year-over-year, despite the high interest rates of 5.02% in 2023 and 5.33% in 2024. These figures suggest resilience in the local housing market, even in the face of less favorable financing conditions.

Predictive models forecast that average home prices in Briarwood will continue their upward trajectory over the next five years, potentially reaching around $230,000 by 2029. This projection is based on the consistent growth observed over the past decade and assumes steady economic conditions. For rent prices, the forecast suggests a continued increase, potentially reaching an average of $1,100 per month by 2029, reflecting the ongoing demand for rental properties in the area.

In summary, Briarwood has experienced a noteworthy increase in homeownership rates and property values over the past decade. The neighborhood has shown resilience in its housing market, with rising home prices even amidst higher interest rates. While the rental market has seen a decrease in the proportion of renters, average rent prices have continued to climb. These trends point to a dynamic and evolving housing landscape in Briarwood, with potential for further growth and changes in the coming years.