Ellerbe, NC—28338
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Ellerbe, NC
As of Oct '25, the median home price in Ellerbe, NC is $140,000, with a year-over-year change of 1.3%. This indicates that home prices in Ellerbe, NC are increasing. According to Zillow, the 1-year price projection is 0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $140,000 | 1.3% |
| Single Family | $140,000 | 1.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Ellerbe, NC
Ellerbe, NC lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Ellerbe, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Ellerbe, NC is 71. This is a decrease of -21.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $350,000 | 22.0% |
Listing Count | 10 | 26.0% |
| Listings as % of Homes | 0.7% | 26.0% |
Days on Market | 71 | -21.0% |
Demographics — Ellerbe, NC
As of the latest ACS Survey released in 2023, Ellerbe, NC has a population of 3,320, which has decreased by -28.8% over the past 5 years. Ellerbe, NC is a moderately popular place for families, as children make up 23.9% of the population. The area has a poorly educated workforce, with 24.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 0.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,320 | -28.8% |
% Under 18 | 23.9% | 8.1% |
% Seniors | 19.2% | -2.5% |
% WFH | 0.9% | -80.9% |
% w/ College Degree | 24.3% | 285.7% |
As of the latest ACS Survey released in 2023, Ellerbe, NC is a predominantly white area, with 61.1% of the population identifying as white. The white population has shrunk by 5.7% in the last 5 years. The second most common race or ethnicity in Ellerbe, NC is black, making up 17.9% of the population. Foreign-born residents account for 6.3% of the population in Ellerbe, NC, and this percentage has decreased by 24.1% 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 | 61.1% | -5.7% |
% Black | 17.9% | -19.4% |
% Hispanic | 15.0% | 45.6% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 6.3% | -24.1% |
Mortgage and Risk — Ellerbe, NC
According to HUD data as of 2023, there were 51 mortgage originations in Ellerbe, NC, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 74.0%, with 35.0% above 90% LTV (very high). This implies large mortgage risk in Ellerbe, NC. Investor activity is low, as 2.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 51 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Ellerbe, NC
Ellerbe, NC lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 51 |
Total Units Section 8 | 52 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 98.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $840 |
| 2 Bedroom | N/A | N/A | $930 |
| 3 Bedroom | N/A | N/A | $1,300 |
| 4 Bedroom | N/A | N/A | $1,560 |
Affordability — Ellerbe, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.3 |
| Median Home Price | $140,000 |
| Median Household Income | $58,700 |