Elm City, NC—27822
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elm City, NC
As of Oct '25, the median home price in Elm City, NC is $227,000, with a year-over-year change of -0.6%. This indicates that home prices in Elm City, NC are flat. According to Zillow, the 1-year price projection is 2.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $227,000 | -0.6% |
| Single Family | $227,000 | -0.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $151,000 | -1.3% |
3 Bed | $232,000 | -0.4% |
4 Bed | $359,000 | 2.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Elm City, NC
As of July '25, Rentcast reports the average rent in Elm City, NC is $1,280, with a year-over-year rent change of -22.9%. Per bedroom, the median rent as of July '25 in Elm City, NC is 2-bedrooms: $1,200, 3-bedrooms: $1,300. The most common rental property sizes in Elm City, NC are 3-bedroom and 2-bedroom, accounting for 64.1% and 21.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,280 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,200 | $1,200 |
| 3 Bed Rent | $1,650 | $1,300 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Elm City, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Elm City, NC is 44. This is a decrease of -12.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $271,000 | 12.0% |
Listing Count | 35 | 53.0% |
| Listings as % of Homes | 0.2% | 53.0% |
Days on Market | 44 | -12.0% |
Demographics — Elm City, NC
As of the latest ACS Survey released in 2023, Elm City, NC has a population of 7,740, which has decreased by -8.4% over the past 5 years. Elm City, NC is a moderately popular place for families, as children make up 19.4% of the population. The area has a poorly educated workforce, with 22.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,740 | -8.4% |
% Under 18 | 19.4% | -16.0% |
% Seniors | 21.1% | 20.6% |
% WFH | 8.4% | 425.0% |
% w/ College Degree | 22.4% | 40.0% |
As of the latest ACS Survey released in 2023, Elm City, NC is a predominantly white area, with 66.3% of the population identifying as white. The white population has shrunk by 11.0% in the last 5 years. The second most common race or ethnicity in Elm City, NC is black, making up 26.7% of the population. Foreign-born residents account for 3.5% of the population in Elm City, NC, and this percentage has increased by 218.2% 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 | 66.3% | -11.0% |
% Black | 26.7% | 34.8% |
% Hispanic | 5.0% | 42.9% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 3.5% | 218.2% |
Mortgage and Risk — Elm City, NC
According to HUD data as of 2023, there were 90 mortgage originations in Elm City, NC, of which 66.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in Elm City, 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 | 90 |
% Conventional Loans | 66.0% |
% Government Loans | 34.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Elm City, NC
Elm City, NC lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 7 |
Total Units Section 8 | 7 |
% Rentals under Section 8 | 1.1% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $750 |
| 2 Bedroom | -$250 | $1,200 | $950 |
| 3 Bedroom | -$390 | $1,650 | $1,260 |
| 4 Bedroom | N/A | N/A | $1,430 |
Affordability — Elm City, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $227,000 |
| Median Household Income | $61,200 |