Elmwood, Dallas, TX—75224
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elmwood, Dallas, TX
As of Oct '25, the median home price in Elmwood, Dallas, TX is $228,000, with a year-over-year change of -4.9%. This indicates that home prices in Elmwood, Dallas, TX are decreasing. According to Zillow, the 1-year price projection is -1.1%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $228,000 | -4.9% |
| Single Family | $228,000 | -4.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $195,000 | -3.0% |
3 Bed | $245,000 | -5.0% |
4 Bed | $295,000 | -5.8% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Elmwood, Dallas, TX
As of July '25, Rentcast reports the average rent in Elmwood, Dallas, TX is $2,090, with a year-over-year rent change of -5.9%. Per bedroom, the median rent as of July '25 in Elmwood, Dallas, TX is 1-bedrooms: $1,140, 2-bedrooms: $1,950, 3-bedrooms: $2,330, 4-bedrooms: $2,620. The most common rental property sizes in Elmwood, Dallas, TX are 2-bedroom and 3-bedroom, accounting for 44.4% and 26.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,090 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,020 | $1,140 |
| 2 Bed Rent | $1,900 | $1,950 |
| 3 Bed Rent | $2,200 | $2,330 |
| 4 Bed Rent | $2,600 | $2,620 |
% of Rental Stock
Property Listings — Elmwood, Dallas, TX
As of Oct '25, Realtor.com reports that the median days on market for a home in Elmwood, Dallas, TX is 51. 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 46.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $350,000 | 0.0% |
Listing Count | 74 | 6.0% |
| Listings as % of Homes | 0.3% | 6.0% |
Days on Market | 51 | 15.0% |
Demographics — Elmwood, Dallas, TX
As of the latest ACS Survey released in 2023, Elmwood, Dallas, TX has a population of 35,500, which has decreased by -4.9% over the past 5 years. Elmwood, Dallas, TX is a popular place for families, as children make up 25.6% of the population. The area has a poorly educated workforce, with 14.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 35,500 | -4.9% |
% Under 18 | 25.6% | -21.5% |
% Seniors | 13.0% | 58.5% |
% WFH | 5.5% | 400.0% |
% w/ College Degree | 14.6% | 8.1% |
As of the latest ACS Survey released in 2023, Elmwood, Dallas, TX is a predominantly hispanic area, with 58.8% of the population identifying as hispanic. The hispanic population has shrunk by 10.0% in the last 5 years. The second most common race or ethnicity in Elmwood, Dallas, TX is black, making up 28.9% of the population. Foreign-born residents account for 24.6% of the population in Elmwood, Dallas, TX, and this percentage has decreased by 8.2% 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 | 9.4% | 8.0% |
% Black | 28.9% | 18.4% |
% Hispanic | 58.8% | -10.0% |
% Asian | 0.5% | -64.3% |
% Foreign Born | 24.6% | -8.2% |
Mortgage and Risk — Elmwood, Dallas, TX
According to HUD data as of 2023, there were 198 mortgage originations in Elmwood, Dallas, TX, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 42.0% above 90% LTV (very high). This implies large mortgage risk in Elmwood, Dallas, TX. Investor activity is low, as 4.0% of loans were by investors. 18.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 198 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 18.0% |
Loan Activity
Rentals and Section 8 — Elmwood, Dallas, TX
As of 2024, the percent of homes in Elmwood, Dallas, TX under the Section 8 program is 9.2%. 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 units appear to be good home sizes to consider for Section 8 housing in Elmwood, Dallas, TX, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 428 |
Total Units Section 8 | 428 |
% Rentals under Section 8 | 9.2% |
% Occupied Section 8 | 78.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $220 | $1,020 | $1,240 |
| 2 Bedroom | -$440 | $1,900 | $1,460 |
| 3 Bedroom | -$370 | $2,200 | $1,830 |
| 4 Bedroom | -$250 | $2,600 | $2,350 |
Affordability — Elmwood, Dallas, TX
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.5 |
| Median Home Price | $228,000 |
| Median Household Income | $53,600 |