Renter percentages in Roselle have shown a corresponding increase as homeownership rates declined. The percentage of renters rose from 21% in 2013 to 24% in 2022. This trend coincided with a steady increase in average rent prices. In 2013, the average rent was $1,223, which grew to $1,400 by 2022, an increase of 14.5% over the period. The population remained relatively stable during this time, suggesting that the rise in renter percentages and rent prices was not primarily driven by population growth but rather by shifting housing preferences or economic factors.

In 2023 and 2024, Roselle has seen continued growth in average home prices. The average home price reached $326,774 in 2023 and further increased to $348,325 in 2024, representing a 6.6% year-over-year increase. This growth occurred despite federal interest rates rising to 5.02% in 2023 and 5.33% in 2024, indicating strong demand in the local housing market.

Looking ahead, predictive models suggest that average home prices in Roselle are likely to continue their upward trajectory over the next five years, albeit at a potentially slower pace due to higher interest rates. Average rent prices are also expected to increase, driven by ongoing demand for rental properties and the overall rise in housing costs. However, the rate of increase may moderate as the market adjusts to economic conditions and housing supply changes.

In summary, Roselle has experienced a gradual shift towards more renters over the past decade, accompanied by substantial increases in both average home prices and average rent prices. The community has shown resilience in its housing market, with home prices continuing to rise even in the face of increasing interest rates. These trends reflect the ongoing desirability of Roselle as a residential area and suggest a dynamic housing market that continues to evolve in response to broader economic factors and local demand.