Mistletoe Heights, a neighborhood in Fort Worth, Texas, has undergone significant changes in its housing market over the past decade. From 2013 to 2022, the area experienced a notable decline in homeownership rates, dropping from 81% to 64%, while average home prices surged from $274,452 to $507,724. This inverse relationship between homeownership rates and property values suggests that rising home prices may have made purchasing a home less accessible for some residents, potentially driving more people into the rental market.

The impact of federal interest rates on homeownership trends in Mistletoe Heights is evident. Between 2010 and 2015, when interest rates were historically low (0.09% to 0.18%), homeownership rates remained relatively stable at 77-81%. However, as interest rates began to climb from 2016 onwards, reaching 1.68% in 2022, homeownership rates declined more rapidly, falling to 64% by 2022. This trend aligns with the general principle that higher interest rates can make mortgages less affordable, potentially discouraging homeownership.

The rental market in Mistletoe Heights has shown interesting dynamics during this period. As the percentage of renters increased from 19% in 2013 to 36% in 2022, average rent prices fluctuated but generally trended upward. The average rent rose from $1,211 in 2013 to $1,415 in 2021, before decreasing slightly to $1,190 in 2022. Concurrently, the neighborhood's population grew from 1,388 in 2013 to 1,687 in 2022, likely contributing to increased demand for rental properties.