Fourth Ward, a neighborhood in Charlotte, North Carolina, has experienced significant growth and transformation from 2010 to 2024. This analysis examines trends in homeownership, average home prices, and average rent prices during this period. The homeownership rate in Fourth Ward has remained relatively stable, fluctuating between 32% and 37% from 2013 to 2022. Average home prices have shown a consistent upward trend, increasing from $253,376 in 2010 to $390,006 in 2022, representing a 54% increase over this period.

Despite historically low federal interest rates from 2010 to 2021 (ranging from 0.08% to 2.16%), the homeownership rate in Fourth Ward did not significantly increase. This suggests that other factors, such as housing availability and local market conditions, may have played a more substantial role in determining homeownership rates in this neighborhood. The renter population in Fourth Ward has consistently been the majority, ranging from 63% to 68% between 2013 and 2022. Average rent prices have shown an overall upward trend, increasing from $1,306 in 2013 to $1,522 in 2022, a 16.5% increase. This trend aligns with the growing population, which increased from 2,096 in 2010 to 4,065 in 2022, potentially driving up demand for rental properties.

Recent data shows that average home prices in Fourth Ward continued to rise, reaching $404,312 in 2023 and $418,167 in 2024. This represents a 7.2% increase from 2022 to 2024. Federal interest rates also saw a significant increase, rising from 1.68% in 2022 to 5.02% in 2023 and 5.33% in 2024. Despite these higher interest rates, home prices have continued to appreciate, suggesting strong demand in the Fourth Ward real estate market.