Elkins, WV—26241
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elkins, WV
As of Oct '25, the median home price in Elkins, WV is $167,000, with a year-over-year change of 0.4%. This indicates that home prices in Elkins, WV are flat. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $167,000 | 0.4% |
| Single Family | $167,000 | 0.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $74,000 | -7.5% |
2 Bed | $116,000 | -0.9% |
3 Bed | $177,000 | 0.6% |
4 Bed | $215,000 | 1.4% |
| 5 Bed | $284,000 | 0.0% |
% of Housing Stock
Rental Trends — Elkins, WV
As of July '25, Rentcast reports the average rent in Elkins, WV is $922, with a year-over-year rent change of -34.1%. Per bedroom, the median rent as of July '25 in Elkins, WV is 1-bedrooms: $685, 2-bedrooms: $717, 3-bedrooms: $750, 4-bedrooms: $1,950. The most common rental property sizes in Elkins, WV are 3-bedroom and 2-bedroom, accounting for 34.1% and 31.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $750 | $922 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $685 | $685 |
| 2 Bed Rent | $750 | $717 |
| 3 Bed Rent | $750 | $750 |
| 4 Bed Rent | $1,950 | $1,950 |
% of Rental Stock
Property Listings — Elkins, WV
As of Oct '25, Realtor.com reports that the median days on market for a home in Elkins, WV is 69. This is a increase of 47.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $239,000 | 2.0% |
Listing Count | 54 | 13.0% |
| Listings as % of Homes | 0.4% | 13.0% |
Days on Market | 69 | 47.0% |
Demographics — Elkins, WV
As of the latest ACS Survey released in 2023, Elkins, WV has a population of 14,200, which has increased by 4.1% over the past 5 years. Elkins, WV is a moderately popular place for families, as children make up 18.0% of the population. The area has a poorly educated workforce, with 23.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 14,200 | 4.1% |
% Under 18 | 18.0% | -2.7% |
% Seniors | 23.5% | 0.9% |
% WFH | 8.1% | 211.5% |
% w/ College Degree | 23.2% | 0.0% |
As of the latest ACS Survey released in 2023, Elkins, WV is a predominantly white area, with 87.7% of the population identifying as white. The white population has shrunk by 7.2% in the last 5 years. The second most common race or ethnicity in Elkins, WV is hispanic, making up 1.7% of the population. Foreign-born residents account for 0.9% of the population in Elkins, WV, and this percentage has decreased by 25.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 87.7% | -7.2% |
% Black | 1.5% | -28.6% |
% Hispanic | 1.7% | 30.8% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.9% | -25.0% |
Mortgage and Risk — Elkins, WV
According to HUD data as of 2023, there were 85 mortgage originations in Elkins, WV, of which 60.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in Elkins, WV. Investor activity is low, as 5.0% of loans were by investors. 24.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 85 |
% Conventional Loans | 60.0% |
% Government Loans | 40.0% |
% Investor Loans | 5.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 24.0% |
Loan Activity
Rentals and Section 8 — Elkins, WV
Elkins, WV lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 538 |
Total Units Section 8 | 460 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 97.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$35 | $685 | $650 |
| 2 Bedroom | $100 | $750 | $850 |
| 3 Bedroom | $330 | $750 | $1,080 |
| 4 Bedroom | -$640 | $1,950 | $1,310 |
Affordability — Elkins, WV
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $167,000 |
| Median Household Income | $53,100 |