The rental market in Sun City West, while smaller, has shown some interesting trends. The percentage of renters remained relatively stable, fluctuating between 11% and 13% from 2013 to 2022. Average rent prices have generally increased over time, rising from $1,291 in 2013 to $1,375 in 2022, an overall increase of 6.5%. However, there have been fluctuations, with the highest average rent of $1,483 recorded in 2021, before decreasing slightly in 2022.

Looking at the most recent data, the average home price in Sun City West for 2023 was $398,200, showing a slight decrease from the 2022 peak of $413,628. This trend continued into 2024, with the average home price further declining to $396,054. Interestingly, this occurred despite rising federal interest rates, which reached 5.02% in 2023 and 5.33% in 2024, potentially indicating a cooling in the local housing market.

Applying predictive models to forecast 5-year trends, we can anticipate that average home prices in Sun City West may experience a period of stabilization or slight decline in the short term, followed by a potential return to modest growth. This forecast is based on the recent cooling trend and the historically strong demand for housing in this retirement community. For average rent prices, we can expect a continued gradual increase, potentially reaching around $1,500-$1,600 by 2029, assuming steady demand for rental properties in the area.

In summary, Sun City West has demonstrated a remarkably stable homeownership rate, coupled with significant growth in average home prices over the past decade. The rental market, while smaller, has shown steady growth in average rent prices. Recent data suggests a potential cooling in the housing market, which may lead to a period of price stabilization. The unique nature of Sun City West as a retirement community appears to buffer it somewhat from broader economic trends, maintaining its appeal to homeowners despite fluctuations in interest rates and home prices.