Elkins Park, PA—19027
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elkins Park, PA
As of Oct '25, the median home price in Elkins Park, PA is $404,000, with a year-over-year change of 2.2%. This indicates that home prices in Elkins Park, PA are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $404,000 | 2.2% |
| Single Family | $434,000 | 2.1% |
| Condos | $242,000 | -1.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $146,000 | -4.6% |
2 Bed | $275,000 | -1.1% |
3 Bed | $383,000 | 1.3% |
4 Bed | $484,000 | 3.0% |
| 5 Bed | $560,000 | 4.3% |
% of Housing Stock
Rental Trends — Elkins Park, PA
As of July '25, Rentcast reports the average rent in Elkins Park, PA is $1,980, with a year-over-year rent change of -2.0%. Per bedroom, the median rent as of July '25 in Elkins Park, PA is 1-bedrooms: $1,580, 2-bedrooms: $2,000, 3-bedrooms: $2,340, 4-bedrooms: $3,000. The most common rental property sizes in Elkins Park, PA are 1-bedroom and 2-bedroom, accounting for 45.7% and 43.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,980 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,600 | $1,580 |
| 2 Bed Rent | $1,980 | $2,000 |
| 3 Bed Rent | $2,460 | $2,340 |
| 4 Bed Rent | $3,000 | $3,000 |
% of Rental Stock
Property Listings — Elkins Park, PA
As of Oct '25, Realtor.com reports that the median days on market for a home in Elkins Park, PA is 35. This is a decrease of -26.0% 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 18.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $366,000 | -11.0% |
Listing Count | 66 | -4.0% |
| Listings as % of Homes | 0.5% | -4.0% |
Days on Market | 35 | -26.0% |
Demographics — Elkins Park, PA
As of the latest ACS Survey released in 2023, Elkins Park, PA has a population of 20,400, which has increased by 2.1% over the past 5 years. Elkins Park, PA is a moderately popular place for families, as children make up 20.4% of the population. The area has a highly educated workforce, with 56.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,400 | 2.1% |
% Under 18 | 20.4% | 6.2% |
% Seniors | 19.7% | 3.7% |
% WFH | 19.2% | 317.4% |
% w/ College Degree | 56.1% | 2.7% |
As of the latest ACS Survey released in 2023, Elkins Park, PA is a predominantly black area, with 41.8% of the population identifying as black. The black population has grown by 19.8% in the last 5 years. The second most common race or ethnicity in Elkins Park, PA is white, making up 40.6% of the population. Foreign-born residents account for 14.3% of the population in Elkins Park, PA, and this percentage has increased by 6.7% 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 | 40.6% | -18.0% |
% Black | 41.8% | 19.8% |
% Hispanic | 5.0% | 0.0% |
% Asian | 7.6% | 18.8% |
% Foreign Born | 14.3% | 6.7% |
Mortgage and Risk — Elkins Park, PA
According to HUD data as of 2023, there were 312 mortgage originations in Elkins Park, PA, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 18.0% above 90% LTV (elevated). This implies medium mortgage risk in Elkins Park, PA. 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 | 312 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Elkins Park, PA
As of 2024, the percent of homes in Elkins Park, PA under the Section 8 program is 1.1%. 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. In Elkins Park, PA, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 36 |
Total Units Section 8 | 36 |
% Rentals under Section 8 | 1.1% |
% Occupied Section 8 | 67.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$120 | $1,600 | $1,480 |
| 2 Bedroom | -$220 | $1,980 | $1,760 |
| 3 Bedroom | -$340 | $2,460 | $2,120 |
| 4 Bedroom | -$590 | $3,000 | $2,410 |
Affordability — Elkins Park, PA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $404,000 |
| Median Household Income | $105,000 |