Elgin, OR—97827
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elgin, OR
As of Oct '25, the median home price in Elgin, OR is $264,000, with a year-over-year change of 11.9%. This indicates that home prices in Elgin, OR are increasing. According to Zillow, the 1-year price projection is 3.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $264,000 | 11.9% |
| Single Family | $264,000 | 11.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $209,000 | 14.2% |
3 Bed | $269,000 | 12.1% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Elgin, OR
As of July '25, Rentcast reports the average rent in Elgin, OR is $787, with a year-over-year rent change of 0.5%. Per bedroom, the median rent as of July '25 in Elgin, OR is studios: $750, 1-bedrooms: $411, 2-bedrooms: $1,200. The most common rental property sizes in Elgin, OR are 3-bedroom and 2-bedroom, accounting for 48.4% and 28.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $750 | $787 |
| Studio Rent | $750 | $750 |
| 1 Bed Rent | $411 | $411 |
| 2 Bed Rent | $1,200 | $1,200 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Elgin, OR
As of Oct '25, Realtor.com reports that the median days on market for a home in Elgin, OR is 46. This is a increase of 23.0% 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 12.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $250,000 | -33.0% |
Listing Count | 17 | 24.0% |
| Listings as % of Homes | 1.4% | 24.0% |
Days on Market | 46 | 23.0% |
Demographics — Elgin, OR
As of the latest ACS Survey released in 2023, Elgin, OR has a population of 2,560, which has increased by 7.4% over the past 5 years. Elgin, OR is a moderately popular place for families, as children make up 20.7% of the population. The area has a poorly educated workforce, with 12.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,560 | 7.4% |
% Under 18 | 20.7% | 4.5% |
% Seniors | 22.1% | -21.9% |
% WFH | 10.0% | 66.7% |
% w/ College Degree | 12.4% | -6.1% |
As of the latest ACS Survey released in 2023, Elgin, OR is a predominantly white area, with 91.8% of the population identifying as white. The white population has shrunk by 2.7% in the last 5 years. The second most common race or ethnicity in Elgin, OR is asian, making up 1.7% of the population. Foreign-born residents account for 2.7% of the population in Elgin, OR, and this percentage has increased by 35.0% 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 | 91.8% | -2.7% |
% Black | 0.0% | -100.0% |
% Hispanic | 1.7% | -50.0% |
% Asian | 1.7% | 325.0% |
% Foreign Born | 2.7% | 35.0% |
Mortgage and Risk — Elgin, OR
According to HUD data as of 2023, there were 48 mortgage originations in Elgin, OR, of which 60.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in Elgin, OR. 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 | 48 |
% Conventional Loans | 60.0% |
% Government Loans | 40.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Elgin, OR
Elgin, OR lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 51 |
Total Units Section 8 | 51 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 81.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $429 | $411 | $840 |
| 2 Bedroom | -$120 | $1,200 | $1,080 |
| 3 Bedroom | N/A | N/A | $1,510 |
| 4 Bedroom | N/A | N/A | $1,810 |
Affordability — Elgin, OR
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $264,000 |
| Median Household Income | $58,800 |