Renter percentages in Morningside have generally remained high, ranging from 64% to 72% between 2013 and 2022. Average rent prices have shown considerable variation during this period. In 2013, the average rent was $449, which decreased to $411 in 2015 despite a slight increase in the renter population. A significant jump occurred in 2017, with average rent reaching $617, coinciding with a peak in renter percentage at 71%. By 2022, average rent had moderated to $509, with renters comprising 65% of the population.

As of 2024, the average home price in Morningside has reached $200,277, a substantial increase from $183,996 in 2023. This growth occurs against a backdrop of high federal interest rates, which stand at 5.33% in 2024, up from 5.02% in 2023. These figures indicate a continued strong demand for housing in the area, even in the face of less favorable borrowing conditions.

Looking ahead, predictive models suggest that average home prices in Morningside may continue to rise over the next five years, potentially reaching around $250,000 by 2029. Average rent prices are also expected to increase, albeit at a more moderate pace, potentially reaching $600-$650 per month in the same timeframe.

In summary, Morningside has demonstrated resilience in its housing market, with rising home values and a relatively stable mix of owners and renters. The neighborhood's ability to maintain homeownership rates despite increasing prices suggests a strong local economy and desirability. As the area continues to evolve, it's likely to remain an attractive location for both homeowners and renters, with a trend towards higher property values and rents in the coming years.