The rental market in Brownsville has consistently dominated the housing landscape. The percentage of renters increased slightly from 84% in 2013 to 86% in 2022. Average rent prices showed a gradual upward trend, rising from $955 in 2013 to $1,028 in 2022, a 7.6% increase. The population fluctuated during this period, peaking at 86,892 in 2015 before declining to 82,245 in 2022. The modest increase in average rent prices compared to the substantial rise in home values suggests that rental properties have remained a more accessible housing option for many Brownsville residents.

In 2023 and 2024, Brownsville's housing market continued its upward trajectory. The average home price reached $581,913 in 2023 and further increased to $599,195 in 2024, representing a 3.0% year-over-year growth. This growth occurred despite a significant rise in federal interest rates, which jumped from 5.02% in 2023 to 5.33% in 2024, potentially impacting mortgage affordability for prospective homebuyers.

Predictive models suggest that both average home prices and rent prices in Brownsville are likely to continue their upward trend over the next five years. Average home prices are projected to exceed $650,000 by 2029, while average rent prices could surpass $1,200 per month. These forecasts are based on historical trends and current market conditions, assuming relatively stable economic factors.

In conclusion, Brownsville has experienced significant appreciation in home values over the past decade, with average home prices nearly doubling since 2013. Despite this increase, the neighborhood has maintained a high proportion of renters, with only a slight increase in average rent prices. The persistent low homeownership rate, coupled with rising home values, highlights the complex dynamics of the local housing market. As the neighborhood continues to evolve, balancing housing affordability with property value appreciation will likely remain a key challenge for policymakers and community leaders.