Elon, NC 27244 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Elon, NC—27244

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$311,000

0.0% YoY Growth

Household Income

$71,000

23.4% YoY Growth

Days on Market

5.0% Longer YoY

Home Price Forecast

3.3%

Median Rent

$1,410

7.1% YoY Growth

1-Bed Rent

$1,300

14.9% YoY Growth

2-Bed Rent

$1,400

62.4% YoY Growth

3-Bed Rent

$1,410

8.6% YoY Growth

Home Price Trends — Elon, NC

As of Dec '25, the median home price in Elon, NC is $311,000, with a year-over-year change of 0.0%. This indicates that home prices in Elon, NC are flat. According to Zillow, the 1-year price projection is 3.3%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$311,000	0.0%
Single Family	$316,000	0.3%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Elon, NC

As of July '25, Rentcast reports the average rent in Elon, NC is $1,500, with a year-over-year rent change of 7.1%. Per bedroom, the median rent as of July '25 in Elon, NC is studios: $1,400, 1-bedrooms: $1,160, 2-bedrooms: $1,380, 3-bedrooms: $1,510, 4-bedrooms: $2,200. The most common rental property sizes in Elon, NC are 3-bedroom and 2-bedroom, accounting for 42.2% and 26.4% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,410	$1,500
Studio Rent	$1,400	$1,400
1 Bed Rent	$1,300	$1,160
2 Bed Rent	$1,400	$1,380
3 Bed Rent	$1,410	$1,510
4 Bed Rent	$2,200	$2,200

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% of Rental Stock

Studio

1.3%

1 Bedroom

12.2%

2 Bedrooms

26.4%

3 Bedrooms

42.2%

4 Bedrooms

13.0%

5+ Bedrooms

5.0%

Property Listings — Elon, NC

As of Dec '25, Realtor.com reports that the median days on market for a home in Elon, NC is 49. This is a increase of 11.0% 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 17.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$375,000	-12.0%
Listing Count	41	-7.0%
Listings as % of Homes	0.4%	-7.0%
Days on Market	60	5.0%

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Demographics — Elon, NC

As of the latest ACS Survey released in 2023, Elon, NC has a population of 16,700, which has increased by 7.2% over the past 5 years. Elon, NC is a moderately popular place for families, as children make up 15.4% of the population. The area has a moderately educated workforce, with 34.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.5% reporting working from home.

Metric	Latest Census	YoY % Change
Population	16,700	7.2%
% Under 18	15.4%	5.5%
% Seniors	13.9%	2.2%
% WFH	8.5%	80.9%
% w/ College Degree	34.7%	8.8%

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As of the latest ACS Survey released in 2023, Elon, NC is a predominantly white area, with 80.6% of the population identifying as white. The white population has shrunk by 0.1% in the last 5 years. The second most common race or ethnicity in Elon, NC is black, making up 11.9% of the population. Foreign-born residents account for 3.0% of the population in Elon, NC, and this percentage has decreased by 46.4% 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	80.6%	-0.1%
% Black	11.9%	19.0%
% Hispanic	2.8%	-50.0%
% Asian	2.5%	8.7%
% Foreign Born	3.0%	-46.4%

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Mortgage and Risk — Elon, NC

According to HUD data as of 2023, there were 225 mortgage originations in Elon, NC, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 56.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Elon, NC. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	225
% Conventional Loans	86.0%
% Government Loans	14.0%
% Investor Loans	2.0%
% Second Loans	0.0%
% Cash Out Refinance	10.0%

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Rentals and Section 8 — Elon, NC

As of 2024, the percent of homes in Elon, NC under the Section 8 program is 1.4%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Elon, NC, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 4-bedroom units do not.

Section 8 Market Size

Total Units under HUD	20
Total Units Section 8	14
% Rentals under Section 8	1.4%
% Occupied Section 8	N/A

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$230	$1,300	$1,070
2 Bedroom	-$220	$1,400	$1,180
3 Bedroom	$90	$1,410	$1,500
4 Bedroom	-$450	$2,200	$1,750

Elon, NC—27244

Key Metrics at a Glance

Home Price Trends — Elon, NC

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Elon, NC

% of Rental Stock

Property Listings — Elon, NC

Demographics — Elon, NC

Race and Ethnicity

Mortgage and Risk — Elon, NC

Mortgages

Rentals and Section 8 — Elon, NC

Section 8 Market Size

Section 8 Opportunity

Affordability — Elon, NC

Home Price to Income Ratio

Elon, NC — ZIP Code Boundary Map

Nearby ZIP Codes

Altamahaw

Burlington, NC

Gibsonville, NC

Alamance

Burlington, NC

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4
Median Home Price	$311,000
Median Household Income	$71,000

Elon, NC—27244

Key Metrics at a Glance

Home Price Trends — Elon, NC

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Elon, NC

% of Rental Stock

Property Listings — Elon, NC

Demographics — Elon, NC

Race and Ethnicity

Mortgage and Risk — Elon, NC

Mortgages

Rentals and Section 8 — Elon, NC

Section 8 Market Size

Section 8 Opportunity

Affordability — Elon, NC

Home Price to Income Ratio

Elon, NC — ZIP Code Boundary Map

Nearby ZIP Codes

Altamahaw

Burlington, NC

Gibsonville, NC

Alamance

Burlington, NC

Frequently Asked Questions

What is the average home price in Elon, NC 27244?

How have home prices in Elon, NC 27244 changed over the past year?

What is the home price projection for Elon, NC 27244?

What are the demographics of Elon, NC 27244?

How long does it take homes to sell in Elon, NC 27244?

What is the average rent price in Elon, NC 27244?