Eldorado Heights, a neighborhood in Stuart, Florida, has experienced significant changes in its housing market over the past decade. This analysis explores the trends in homeownership rates, average home prices, and average rent prices, providing insights into the evolving dynamics of this community. The homeownership rate in Eldorado Heights has fluctuated over the years, showing a general decline from 2013 to 2018 before rebounding slightly in recent years. In 2013, the homeownership rate was 70%, but it dropped to 51% by 2018. However, by 2022, it had recovered to 61%. Concurrently, average home prices in the neighborhood have shown a steady upward trend. In 2013, the average home price was $70,824, and by 2022, it had risen dramatically to $276,898, representing a 291% increase over this period.

The relationship between federal interest rates and homeownership rates in Eldorado Heights appears to follow the expected pattern. As interest rates remained low from 2013 to 2016 (ranging from 0.11% to 0.40%), homeownership rates initially declined but then stabilized. The slight increase in interest rates from 2017 to 2019 (1% to 2.16%) coincided with a period of relatively stable homeownership rates around 51-55%. The sharp drop in interest rates in 2020 and 2021 (to 0.38% and 0.08% respectively) may have contributed to the subsequent increase in homeownership rates to 58% in 2021 and 61% in 2022.

Renter percentages in Eldorado Heights have generally mirrored the inverse of homeownership rates, rising from 30% in 2013 to a peak of 49% in 2017 before declining to 38% in 2022. Average rent prices have shown considerable volatility over this period. In 2013, the average rent was $938, which increased to $1,548 by 2019, representing a 65% increase. However, there was a significant drop in 2020 to $874, followed by a rebound to $1,330 in 2022. This volatility in rent prices may be influenced by factors such as changes in local economic conditions and housing supply.