Trenton, a charming city in Florida spanning 3.39 square miles, has experienced notable shifts in its housing landscape over the past decade. The city's housing market has demonstrated resilience and growth, with a general trend towards increased homeownership and rising property values. From 2013 to 2022, Trenton saw a substantial increase in homeownership, rising from 61% to 72%. This trend coincided with a remarkable surge in average home prices, which more than doubled from $108,435 in 2013 to $257,148 in 2022. The most dramatic increase occurred between 2020 and 2022, with average home prices jumping from $181,671 to $257,148, a 41.5% increase in just two years.

Federal interest rates have played a crucial role in shaping Trenton's homeownership landscape. The period from 2013 to 2016 saw historically low interest rates, hovering around 0.1% to 0.4%. This favorable lending environment likely contributed to the initial rise in homeownership from 61% in 2013 to 65% in 2016. As interest rates began to climb from 2017 onwards, reaching 1.68% by 2022, Trenton's homeownership rate remained robust, actually increasing to 72% by 2022. This suggests that other local factors, such as job growth or housing policies, may have offset the potential negative impact of rising interest rates on homeownership.

The rental market in Trenton has shown inverse trends to homeownership. As the percentage of renters decreased from 39% in 2013 to 28% in 2022, average rent prices experienced volatility. Interestingly, despite the decreasing renter population, average rent prices initially rose from $917 in 2013 to $959 in 2014. However, they then saw a significant drop to $528 in 2019, before rebounding to $786 in 2022. This fluctuation could be attributed to changes in housing supply, local economic conditions, or shifts in the types of rental properties available.