Renter percentages and average rent prices in Ryan Place also showed interesting trends. In 2013, 39% of residents were renters, with an average rent of $1,085. The percentage of renters decreased to 29% in 2015, corresponding with the peak in homeownership. However, by 2020, the renter percentage had increased to 42%, with average rent reaching $1,155. In 2022, despite a decrease in renter percentage to 32%, average rent continued to rise, reaching $1,210. This suggests that while fewer people were renting, those who did were paying higher prices, possibly due to increased demand for a limited supply of rental properties.

In 2023, the average home price in Ryan Place reached $406,631, with federal interest rates at 5.02%. As of 2024, the average home price has further increased to $415,922, while interest rates have risen slightly to 5.33%. These figures indicate a continued upward trend in home values, despite higher interest rates which typically make borrowing more expensive for potential homebuyers.

Based on historical trends and current market conditions, predictions suggest that average home prices in Ryan Place will continue to appreciate, albeit at a potentially slower rate due to higher interest rates. A conservative estimate indicates average home prices could reach around $450,000 to $475,000 in the next five years. Average rent prices are also likely to continue their upward trajectory, potentially reaching $1,400 to $1,500 per month in the same timeframe, assuming current economic conditions persist.

In conclusion, Ryan Place has demonstrated resilience in its housing market, with significant appreciation in home values and a recent rebound in homeownership rates. The neighborhood has weathered various economic cycles, showing its enduring appeal to both homeowners and renters. The interplay between interest rates, home prices, and rental rates will continue to shape the housing landscape in this Fort Worth community in the coming years.