Fargesia rufa has a better shot in zone 5. It'll get to a shorter height of 8'.

"fast growing" may be only in comparison to other Fargesias. They are clumpers and are well behaved as far as spreading goes. The only growth this year will be some new shoots and those may only be a little taller than the rest of the plant. Once all the shoots have grown, there will be no more height growth on the plant. Next spring you should get more new shoots, which will be taller still, and so on each year after. I'm afraid you will see your neighbors for at least a couple more years, maybe more. Phyllostachys (running bamboo) are much more agressive, it took mine about three years to screen out a 7' tall area. Eric

Is there a reason you have it in a pot? Growing any plant or tree or grass in a container is nothing at all like growing something in the ground. It is a totally different kind of gardening. You should be posting on Container Forum also. Your clumping bamboo doesn't like a pot. It wants soil so that it can spread out and be comfortable. It won't take off on you and eat your yard. It jsut slowly spreads by getting wider. When you repot the bamboo, which you should do now, in a nice wide pot, you have to water it almost every day. It can't search for water, you have it in a container. When the container dries out, so does your bamboo. If you place it in full sun, that is fine, but you must water it if it doesn't rain. It is a grass. You have to plant it in quality soil, which if you go to the container forum, they will advise you as to what to plant it in. The pot must drain for bamboo, they hate wet feet. Fertizile your bamboo with grass cuttings when you mow the lawn, and in the spring give it Lawn food. If I were you, I would put it in the ground. Don't worry, you have the non invasive type, at least for now. LOL. (only kidding) No barrier required. GOod Luck to you!

That looks really great! I've always thought that robusta was one of the best screening/hedge bamboos. And, its mature height is about 16', so you don't have to worry about it becoming overwhelmingly high for your yard.