The relationship between federal interest rates and homeownership rates in Williston shows some correlation. As interest rates remained low from 2013 to 2020 (ranging from 0.09% to 0.38%), homeownership rates remained relatively high, although they did decline gradually. The slight increase in interest rates to 1.68% in 2022 coincided with a stabilization of the homeownership rate at 80%.

As the percentage of renters in Williston increased from 10% in 2013 to 20% in 2022, average rent prices also showed an upward trend. In 2013, the average rent was $874, which increased to $977 by 2022, representing an 11.8% increase. This rise in rent prices occurred despite fluctuations in the city's population, which peaked at 1,585 in 2013 and decreased to 1,207 by 2022.

Looking at more recent data, the average home price in Williston continued to rise, reaching $323,723 in 2023 and $330,625 in 2024. This represents a modest increase of 3.2% from 2022 to 2024. Concurrently, federal interest rates have increased significantly, reaching 5.02% in 2023 and 5.33% in 2024.

Applying predictive models to forecast 5-year trends, we can expect average home prices in Williston to continue their upward trajectory, potentially reaching around $380,000 by 2029. Average rent prices are also likely to increase, possibly surpassing $1,100 per month within the same timeframe.

In summary, Williston has experienced a gradual shift towards more renters, with homeownership rates declining from 90% to 80% between 2013 and 2022. This period saw substantial growth in average home prices, nearly doubling in value. Rent prices also increased, though at a more modest rate. The recent spike in interest rates may impact future homeownership trends, potentially slowing the rate of price increases in the coming years.