Renter percentages in Goodyear Heights have shown a slight upward trend, increasing from 33% in 2013 to 37% in 2022. This rise in renters corresponds with an increase in average rent prices, which grew from $790 in 2013 to $823 in 2022, a 4.2% increase. The population of Goodyear Heights has remained relatively stable during this period, with only minor fluctuations, suggesting that the increase in renters may be due to factors such as changing housing preferences or affordability concerns rather than significant population changes.

In 2023 and 2024, average home prices in Goodyear Heights continued to rise, reaching $108,977 in 2023 and $117,775 in 2024. This represents a 12.8% increase from 2022 to 2024. Concurrently, federal interest rates have increased significantly, reaching 5.02% in 2023 and 5.33% in 2024. These higher interest rates may impact future homeownership rates and housing affordability in the neighborhood.

Looking ahead, based on historical trends and current market conditions, we can forecast potential 5-year trends for average home and rent prices in Goodyear Heights. Assuming a continuation of the current growth rate, average home prices could potentially reach around $150,000 to $160,000 by 2029. For rent prices, if the current trend continues, we might see average rents increase to approximately $875 to $900 per month in the next five years.

In summary, Goodyear Heights has experienced a significant increase in average home prices over the past decade, with a slight decrease in homeownership rates. Renter percentages have increased marginally, accompanied by a moderate rise in average rent prices. The recent sharp increase in federal interest rates, combined with rising home prices, may pose challenges for potential homebuyers in the coming years. However, the neighborhood's relatively stable population and consistent demand for housing suggest that Goodyear Heights will likely remain an attractive area for both homeowners and renters in the near future.