The Historic Seaport neighborhood in Key West, Florida, has experienced significant changes in homeownership and property values over the past decade. This coastal area, known for its historical significance, has seen a general decline in homeownership rates from 55% in 2013 to 48% in 2022. Simultaneously, average home prices have risen substantially, increasing from $967,844 in 2016 to $1,668,481 in 2022, marking a 72.4% increase over six years. This inverse relationship suggests that rising home prices may have made homeownership less attainable for some residents.

Federal interest rates have played a crucial role in shaping homeownership trends in Historic Seaport. From 2013 to 2016, when interest rates were historically low (ranging from 0.11% to 0.40%), homeownership rates remained relatively stable at 51-55%. However, as interest rates began to rise more sharply from 2017 onwards, reaching 1.68% in 2022, homeownership rates declined to 48%. This trend aligns with the general principle that lower interest rates tend to encourage homeownership due to more affordable financing options.

The renter population in Historic Seaport has grown over the years, with the percentage of renters increasing from 45% in 2013 to 52% in 2022. This shift corresponds with a significant increase in average rent prices, which rose from $1,007 in 2013 to $2,229 in 2022, representing a 121.3% increase. The growing renter population and rising rent prices indicate a strong demand for rental properties in the area, possibly driven by the neighborhood's desirability and the challenges of homeownership in a high-priced market.