Elrod, NC—28383
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elrod, NC
As of Oct '25, the median home price in Elrod, NC is $102,000, with a year-over-year change of 0.9%. This indicates that home prices in Elrod, NC are flat. According to Zillow, the 1-year price projection is 0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $102,000 | 0.9% |
| Single Family | $103,000 | 1.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $68,000 | -2.9% |
3 Bed | $110,000 | 0.9% |
4 Bed | $161,000 | 4.5% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Elrod, NC
As of July '25, Rentcast reports the average rent in Elrod, NC is $1,300, with a year-over-year rent change of -51.9%. Per bedroom, the median rent as of July '25 in Elrod, NC is 3-bedrooms: $1,300. The most common rental property sizes in Elrod, NC are 3-bedroom and 2-bedroom, accounting for 52.9% and 32.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,300 | $1,300 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,300 | $1,300 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Elrod, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Elrod, NC is 100. This is a increase of 105.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $134,000 | -1.0% |
Listing Count | 10 | -9.0% |
| Listings as % of Homes | 0.3% | -9.0% |
Days on Market | 100 | 105.0% |
Demographics — Elrod, NC
As of the latest ACS Survey released in 2023, Elrod, NC has a population of 6,790, which has decreased by -23.3% over the past 5 years. Elrod, NC is a popular place for families, as children make up 26.3% of the population. The area has a poorly educated workforce, with 15.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 6,790 | -23.3% |
% Under 18 | 26.3% | 11.4% |
% Seniors | 16.1% | 11.8% |
% WFH | 3.6% | 100.0% |
% w/ College Degree | 15.1% | 39.8% |
As of the latest ACS Survey released in 2023, Elrod, NC is a predominantly black area, with 24.4% of the population identifying as black. The black population has shrunk by 2.0% in the last 5 years. The second most common race or ethnicity in Elrod, NC is white, making up 10.3% of the population. Foreign-born residents account for 0.8% of the population in Elrod, NC, and this percentage has increased by 14.3% 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 | 10.3% | -16.9% |
% Black | 24.4% | -2.0% |
% Hispanic | 0.1% | -90.0% |
% Asian | 0.1% | 0.0% |
% Foreign Born | 0.8% | 14.3% |
Mortgage and Risk — Elrod, NC
According to HUD data as of 2023, there were 59 mortgage originations in Elrod, NC, of which 66.0% of loans were conventional mortgages. The average loan-to-value was 101.0%, with 49.0% above 90% LTV (very high). This implies large mortgage risk in Elrod, NC. Investor activity is low, as 7.0% 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 | 59 |
% Conventional Loans | 66.0% |
% Government Loans | 34.0% |
% Investor Loans | 7.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Elrod, NC
Elrod, NC lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 54 |
Total Units Section 8 | 14 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 79.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $730 |
| 2 Bedroom | N/A | N/A | $930 |
| 3 Bedroom | -$120 | $1,300 | $1,180 |
| 4 Bedroom | N/A | N/A | $1,360 |
Affordability — Elrod, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.6 |
| Median Home Price | $102,000 |
| Median Household Income | $37,400 |