Elkton, MD—21921
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elkton, MD
As of Oct '25, the median home price in Elkton, MD is $365,000, with a year-over-year change of 2.8%. This indicates that home prices in Elkton, MD are increasing. According to Zillow, the 1-year price projection is 1.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $365,000 | 2.8% |
| Single Family | $366,000 | 2.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $253,000 | 1.6% |
3 Bed | $328,000 | 2.2% |
4 Bed | $443,000 | 2.8% |
| 5 Bed | $545,000 | 2.8% |
% of Housing Stock
Rental Trends — Elkton, MD
As of July '25, Rentcast reports the average rent in Elkton, MD is $1,890, with a year-over-year rent change of 12.5%. Per bedroom, the median rent as of July '25 in Elkton, MD is 1-bedrooms: $1,580, 2-bedrooms: $1,590, 3-bedrooms: $2,070, 4-bedrooms: $2,690. The most common rental property sizes in Elkton, MD are 2-bedroom and 3-bedroom, accounting for 44.9% and 31.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,890 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,700 | $1,580 |
| 2 Bed Rent | $1,500 | $1,590 |
| 3 Bed Rent | $2,080 | $2,070 |
| 4 Bed Rent | $2,450 | $2,690 |
% of Rental Stock
Property Listings — Elkton, MD
As of Oct '25, Realtor.com reports that the median days on market for a home in Elkton, MD is 37. This is a decrease of -3.0% 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 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $391,000 | -10.0% |
Listing Count | 101 | -1.0% |
| Listings as % of Homes | 0.4% | -1.0% |
Days on Market | 37 | -3.0% |
Demographics — Elkton, MD
As of the latest ACS Survey released in 2023, Elkton, MD has a population of 45,700, which has increased by 1.8% over the past 5 years. Elkton, MD is a moderately popular place for families, as children make up 23.0% of the population. The area has a moderately educated workforce, with 27.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 45,700 | 1.8% |
% Under 18 | 23.0% | -0.4% |
% Seniors | 16.1% | 25.8% |
% WFH | 8.8% | 69.2% |
% w/ College Degree | 27.9% | 17.2% |
As of the latest ACS Survey released in 2023, Elkton, MD is a predominantly white area, with 75.8% of the population identifying as white. The white population has shrunk by 5.5% in the last 5 years. The second most common race or ethnicity in Elkton, MD is black, making up 9.8% of the population. Foreign-born residents account for 4.8% of the population in Elkton, MD, and this percentage has increased by 9.1% 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 | 75.8% | -5.5% |
% Black | 9.8% | -3.9% |
% Hispanic | 6.4% | 14.3% |
% Asian | 1.7% | -10.5% |
% Foreign Born | 4.8% | 9.1% |
Mortgage and Risk — Elkton, MD
According to HUD data as of 2023, there were 716 mortgage originations in Elkton, MD, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Elkton, MD. Investor activity is low, as 2.0% of loans were by investors. 19.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 716 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 19.0% |
Loan Activity
Rentals and Section 8 — Elkton, MD
As of 2024, the percent of homes in Elkton, MD under the Section 8 program is 9.4%. 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. 2-bedroom and 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Elkton, MD, because HUD payments exceed market rent, while 1-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 566 |
Total Units Section 8 | 544 |
% Rentals under Section 8 | 9.4% |
% Occupied Section 8 | 87.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$160 | $1,700 | $1,540 |
| 2 Bedroom | $330 | $1,500 | $1,830 |
| 3 Bedroom | $120 | $2,080 | $2,200 |
| 4 Bedroom | $60 | $2,450 | $2,510 |
Affordability — Elkton, MD
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.9 |
| Median Home Price | $365,000 |
| Median Household Income | $84,600 |