Elba, AL—36323
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elba, AL
As of Oct '25, the median home price in Elba, AL is $123,000, with a year-over-year change of -2.8%. This indicates that home prices in Elba, AL are decreasing. 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 | $123,000 | -2.8% |
| Single Family | $123,000 | -3.1% |
| 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 | $164,000 | 0.0% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Elba, AL
As of July '25, Rentcast reports the average rent in Elba, AL is $860, with a year-over-year rent change of 27.4%. Per bedroom, the median rent as of July '25 in Elba, AL is 1-bedrooms: $745, 3-bedrooms: $975. The most common rental property sizes in Elba, AL are 3-bedroom and 2-bedroom, accounting for 49.1% and 39.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $745 | $860 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $745 | $745 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $975 | $975 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Elba, AL
As of Oct '25, Realtor.com reports that the median days on market for a home in Elba, AL is 66. This is a decrease of -15.0% 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 13.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $234,000 | 49.0% |
Listing Count | 30 | -16.0% |
| Listings as % of Homes | 0.3% | -16.0% |
Days on Market | 66 | -15.0% |
Demographics — Elba, AL
As of the latest ACS Survey released in 2023, Elba, AL has a population of 8,030, which has increased by 2.9% over the past 5 years. Elba, AL is a moderately popular place for families, as children make up 20.8% of the population. The area has a poorly educated workforce, with 13.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 2.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 8,030 | 2.9% |
% Under 18 | 20.8% | 8.9% |
% Seniors | 22.4% | 10.3% |
% WFH | 2.3% | 9.5% |
% w/ College Degree | 13.2% | 12.8% |
As of the latest ACS Survey released in 2023, Elba, AL is a predominantly white area, with 67.8% of the population identifying as white. The white population has shrunk by 4.4% in the last 5 years. The second most common race or ethnicity in Elba, AL is black, making up 24.2% of the population. Foreign-born residents account for 2.2% of the population in Elba, AL, and this percentage has increased by 266.7% 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 | 67.8% | -4.4% |
% Black | 24.2% | 5.7% |
% Hispanic | 2.3% | 228.6% |
% Asian | 0.4% | -60.0% |
% Foreign Born | 2.2% | 266.7% |
Mortgage and Risk — Elba, AL
According to HUD data as of 2023, there were 116 mortgage originations in Elba, AL, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Elba, AL. Investor activity is low, as 1.0% 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 | 116 |
% Conventional Loans | 68.0% |
% Government Loans | 32.0% |
% Investor Loans | 1.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Elba, AL
Elba, AL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 273 |
Total Units Section 8 | 148 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 81.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$85 | $745 | $660 |
| 2 Bedroom | N/A | N/A | $860 |
| 3 Bedroom | $235 | $975 | $1,210 |
| 4 Bedroom | N/A | N/A | $1,330 |
Affordability — Elba, AL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $123,000 |
| Median Household Income | $43,400 |