Renter percentages and average rent prices in Williams-Woodland Park have shown some correlation. In 2013, with 63% of properties renter-occupied, the average rent was $564. As the renter percentage decreased to 57% in 2015, the average rent also dropped to $496. However, by 2019, when the renter percentage increased to 65%, the average rent rose to $595. The most recent data from 2022 shows a renter percentage of 51% with an average rent of $656, indicating a continued upward trend in rental prices despite a decreasing proportion of renters.

In 2023, the average home price in Williams-Woodland Park reached $160,484, with federal interest rates at 5.02%. Moving into 2024, the average home price further increased to $165,624, while interest rates rose slightly to 5.33%. These figures demonstrate continued growth in the local housing market, despite higher interest rates that might typically slow home buying activity.

Looking ahead, predictive models suggest that average home prices in Williams-Woodland Park will continue to rise over the next five years, albeit at a potentially slower rate due to higher interest rates. Average rent prices are also expected to increase, driven by ongoing demand for rental properties in the area. However, the rate of increase may moderate if homeownership becomes more attractive due to potential future interest rate adjustments.

In summary, Williams-Woodland Park has demonstrated resilience in its housing market, with increasing average home prices and a recent uptick in homeownership rates. The neighborhood has maintained a relatively balanced mix of owners and renters, adapting to changing economic conditions. The interplay between federal interest rates, housing prices, and rental trends will continue to shape the community's residential landscape in the coming years.