Ellenboro, NC—28040
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Ellenboro, NC
As of Oct '25, the median home price in Ellenboro, NC is $179,000, with a year-over-year change of -4.9%. This indicates that home prices in Ellenboro, NC are decreasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $179,000 | -4.9% |
| Single Family | $180,000 | -3.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $139,000 | -7.3% |
3 Bed | $217,000 | -0.5% |
4 Bed | $289,000 | 4.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Ellenboro, NC
As of July '25, Rentcast reports the average rent in Ellenboro, NC is $1,050, with a year-over-year rent change of 31.2%. Per bedroom, the median rent as of July '25 in Ellenboro, NC is 2-bedrooms: $1,050. The most common rental property sizes in Ellenboro, NC are 2-bedroom and 3-bedroom, accounting for 56.4% and 36.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,050 | $1,050 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,050 | $1,050 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Ellenboro, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Ellenboro, NC is 62. This is a increase of 15.0% 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 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $254,000 | -10.0% |
Listing Count | 35 | 64.0% |
| Listings as % of Homes | 0.6% | 64.0% |
Days on Market | 62 | 15.0% |
Demographics — Ellenboro, NC
As of the latest ACS Survey released in 2023, Ellenboro, NC has a population of 7,050, which has decreased by -8.9% over the past 5 years. Ellenboro, NC is a moderately popular place for families, as children make up 19.9% of the population. The area has a poorly educated workforce, with 18.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,050 | -8.9% |
% Under 18 | 19.9% | 0.0% |
% Seniors | 18.1% | 0.6% |
% WFH | 4.5% | -27.4% |
% w/ College Degree | 18.3% | 27.1% |
As of the latest ACS Survey released in 2023, Ellenboro, NC is a predominantly white area, with 86.5% of the population identifying as white. The white population has shrunk by 0.6% in the last 5 years. The second most common race or ethnicity in Ellenboro, NC is black, making up 3.5% of the population. Foreign-born residents account for 2.9% of the population in Ellenboro, NC, and this percentage has increased by 866.7% 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 | 86.5% | -0.6% |
% Black | 3.5% | -54.5% |
% Hispanic | 3.5% | 218.2% |
% Asian | 0.3% | ∞% |
% Foreign Born | 2.9% | 866.7% |
Mortgage and Risk — Ellenboro, NC
According to HUD data as of 2023, there were 126 mortgage originations in Ellenboro, NC, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 35.0% above 90% LTV (very high). This implies large mortgage risk in Ellenboro, NC. Investor activity is low, as 2.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 126 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Ellenboro, NC
Ellenboro, NC lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 14 |
Total Units Section 8 | 13 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $800 |
| 2 Bedroom | -$120 | $1,050 | $930 |
| 3 Bedroom | N/A | N/A | $1,260 |
| 4 Bedroom | N/A | N/A | $1,440 |
Affordability — Ellenboro, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $179,000 |
| Median Household Income | $58,000 |