Elizabeth, Charlotte, NC—28204
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elizabeth, Charlotte, NC
As of Oct '25, the median home price in Elizabeth, Charlotte, NC is $586,000, with a year-over-year change of -0.0%. This indicates that home prices in Elizabeth, Charlotte, NC are flat. 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 | $586,000 | -0.0% |
| Single Family | $761,000 | 0.1% |
| Condos | $373,000 | -1.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $298,000 | -1.3% |
2 Bed | $391,000 | -2.0% |
3 Bed | $687,000 | 1.0% |
4 Bed | $1,100,000 | 0.2% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Elizabeth, Charlotte, NC
As of July '25, Rentcast reports the average rent in Elizabeth, Charlotte, NC is $1,860, with a year-over-year rent change of -14.3%. Per bedroom, the median rent as of July '25 in Elizabeth, Charlotte, NC is studios: $1,380, 1-bedrooms: $1,640, 2-bedrooms: $2,200, 3-bedrooms: $3,370, 4-bedrooms: $3,900. The most common rental property sizes in Elizabeth, Charlotte, NC are 1-bedroom and 2-bedroom, accounting for 52.9% and 23.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,750 | $1,860 |
| Studio Rent | $1,350 | $1,380 |
| 1 Bed Rent | $1,600 | $1,640 |
| 2 Bed Rent | $2,190 | $2,200 |
| 3 Bed Rent | $3,300 | $3,370 |
| 4 Bed Rent | $4,200 | $3,900 |
% of Rental Stock
Property Listings — Elizabeth, Charlotte, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Elizabeth, Charlotte, NC is 57. This is a increase of 37.0% 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 39.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $759,000 | 3.0% |
Listing Count | 61 | 53.0% |
| Listings as % of Homes | 0.5% | 53.0% |
Days on Market | 57 | 37.0% |
Demographics — Elizabeth, Charlotte, NC
As of the latest ACS Survey released in 2023, Elizabeth, Charlotte, NC has a population of 9,740, which has increased by 44.9% over the past 5 years. Elizabeth, Charlotte, NC is a less popular place for families, as children make up 11.0% of the population. The area has a highly educated workforce, with 76.3% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 29.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 9,740 | 44.9% |
% Under 18 | 11.0% | -27.6% |
% Seniors | 6.8% | 1.5% |
% WFH | 29.6% | 274.7% |
% w/ College Degree | 76.3% | 25.1% |
As of the latest ACS Survey released in 2023, Elizabeth, Charlotte, NC is a predominantly white area, with 66.1% of the population identifying as white. The white population has shrunk by 1.2% in the last 5 years. The second most common race or ethnicity in Elizabeth, Charlotte, NC is black, making up 20.1% of the population. Foreign-born residents account for 9.7% of the population in Elizabeth, Charlotte, NC, and this percentage has increased by 44.8% 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 | 66.1% | -1.2% |
% Black | 20.1% | -9.5% |
% Hispanic | 6.3% | 152.0% |
% Asian | 3.9% | 18.2% |
% Foreign Born | 9.7% | 44.8% |
Mortgage and Risk — Elizabeth, Charlotte, NC
According to HUD data as of 2023, there were 195 mortgage originations in Elizabeth, Charlotte, NC, of which 99.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Elizabeth, Charlotte, NC. Investor activity is low, as 3.0% of loans were by investors. 2.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 195 |
% Conventional Loans | 99.0% |
% Government Loans | 1.0% |
% Investor Loans | 3.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 2.0% |
Loan Activity
Rentals and Section 8 — Elizabeth, Charlotte, NC
As of 2024, the percent of homes in Elizabeth, Charlotte, NC under the Section 8 program is 9.0%. 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. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Elizabeth, Charlotte, NC, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 367 |
Total Units Section 8 | 367 |
% Rentals under Section 8 | 9.0% |
% Occupied Section 8 | 61.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $640 | $1,600 | $2,240 |
| 2 Bedroom | $290 | $2,190 | $2,480 |
| 3 Bedroom | -$240 | $3,300 | $3,060 |
| 4 Bedroom | -$320 | $4,200 | $3,880 |
Affordability — Elizabeth, Charlotte, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.3 |
| Median Home Price | $586,000 |
| Median Household Income | $89,200 |