Despite the increase in homeownership, Houston Park has remained predominantly renter-occupied throughout the observed period. The percentage of renters, while showing a slight downward trend, has remained high. In 2013, 89% of the population were renters, which decreased to 80% by 2021, before rising slightly to 85% in 2022. Concurrently, average rent prices have shown a consistent upward trend, increasing from $426 in 2013 to $725 in 2022, a 70.2% increase. The most significant jump in average rent occurred between 2019 and 2020, rising from $543 to $727, a 33.9% increase in a single year.

The years 2023 and 2024 have seen continued growth in average home prices in Houston Park. The average home price reached $169,753 in 2023 and further increased to $185,348 in 2024, representing 9.2% and 18% increases from 2022, respectively. This sustained growth is particularly noteworthy given the high federal interest rates of 5.02% in 2023 and 5.33% in 2024, which typically might slow down housing market activity.

Looking ahead, based on the observed trends, it is anticipated that average home prices in Houston Park will continue to rise over the next five years, albeit potentially at a more moderate pace due to high interest rates. Average rent prices are also expected to increase, driven by ongoing demand for rental properties in the area. The homeownership rate may stabilize or show slight increases if interest rates become more favorable, but the neighborhood is likely to maintain its predominantly renter-occupied character.

In conclusion, Houston Park has experienced significant growth in both average home prices and average rent over the past decade. While homeownership rates have shown some increase, the neighborhood remains primarily renter-occupied. The interplay between rising housing costs, rent prices, and interest rates will continue to shape the residential landscape of this El Paso neighborhood in the coming years.