Ward Parkway Plaza, a neighborhood in Kansas City, Missouri, is characterized by its high homeownership rates and rapidly appreciating property values. This area has shown remarkable stability in its housing market over the past decade, with homeownership rates consistently ranging between 90% and 95% from 2013 to 2022. During this period, the neighborhood experienced a significant increase in average home prices, rising from $111,667 in 2013 to $231,392 in 2022, representing a substantial 107% increase over nine years.

The impact of federal interest rates on homeownership trends in Ward Parkway Plaza has been notable. From 2013 to 2016, when interest rates were historically low (0.11% to 0.40%), homeownership rates remained above 90%. This period of affordable borrowing likely encouraged home purchases and refinancing activities. As interest rates began to rise more steeply from 2017 (1%) to 2019 (2.16%), there was a slight dip in homeownership to 90% in 2018. However, the neighborhood maintained a high rate of homeownership even as interest rates fluctuated, indicating strong local demand for owned properties.

Rental trends in Ward Parkway Plaza have shown an interesting pattern. The percentage of renters increased from 5% in 2013 to 10% in 2016, coinciding with a decrease in average rent from $1,976 to $1,788 during the same period. This suggests that as more rental units became available, average rents initially decreased. However, from 2016 to 2022, despite fluctuations in the renter population (ranging from 7% to 10%), average rents generally increased, reaching $2,051 by 2022. This trend might be attributed to growing demand for rental properties in the area, possibly driven by the neighborhood's increasing population, which grew from 2,171 in 2013 to 2,993 in 2022.