Elkton, VA—22827
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elkton, VA
As of Oct '25, the median home price in Elkton, VA is $309,000, with a year-over-year change of 1.2%. This indicates that home prices in Elkton, VA are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $309,000 | 1.3% |
| Single Family | $309,000 | 1.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $246,000 | 1.2% |
3 Bed | $318,000 | 1.3% |
4 Bed | $395,000 | 3.1% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Elkton, VA
As of July '25, Rentcast reports the average rent in Elkton, VA is $1,130, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in Elkton, VA is 1-bedrooms: $825, 2-bedrooms: $1,730. The most common rental property sizes in Elkton, VA are 2-bedroom and 3-bedroom, accounting for 39.4% and 33.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $825 | $1,130 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $825 | $825 |
| 2 Bed Rent | $1,350 | $1,730 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Elkton, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Elkton, VA is 64. This is a increase of 34.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 27.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $365,000 | -31.0% |
Listing Count | 45 | 169.0% |
| Listings as % of Homes | 0.5% | 169.0% |
Days on Market | 64 | 34.0% |
Demographics — Elkton, VA
As of the latest ACS Survey released in 2023, Elkton, VA has a population of 10,400, which has increased by 3.3% over the past 5 years. Elkton, VA is a moderately popular place for families, as children make up 20.7% of the population. The area has a poorly educated workforce, with 13.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 10,400 | 3.3% |
% Under 18 | 20.7% | 1.5% |
% Seniors | 21.0% | 3.4% |
% WFH | 7.5% | 188.5% |
% w/ College Degree | 13.6% | 14.3% |
As of the latest ACS Survey released in 2023, Elkton, VA is a predominantly white area, with 89.3% of the population identifying as white. The white population has shrunk by 2.0% in the last 5 years. The second most common race or ethnicity in Elkton, VA is hispanic, making up 4.7% of the population. Foreign-born residents account for 2.4% of the population in Elkton, VA, and this percentage has increased by 140.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 89.3% | -2.0% |
% Black | 3.5% | -30.0% |
% Hispanic | 4.7% | 104.3% |
% Asian | 0.4% | 0.0% |
% Foreign Born | 2.4% | 140.0% |
Mortgage and Risk — Elkton, VA
According to HUD data as of 2023, there were 152 mortgage originations in Elkton, VA, of which 74.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in Elkton, VA. Investor activity is low, as 3.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 152 |
% Conventional Loans | 74.0% |
% Government Loans | 26.0% |
% Investor Loans | 3.0% |
% Second Loans | 5.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Elkton, VA
Elkton, VA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 65 |
Total Units Section 8 | 65 |
% Rentals under Section 8 | 3.1% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $85 | $825 | $910 |
| 2 Bedroom | -$190 | $1,350 | $1,160 |
| 3 Bedroom | N/A | N/A | $1,570 |
| 4 Bedroom | N/A | N/A | $1,930 |
Affordability — Elkton, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $309,000 |
| Median Household Income | $67,400 |