Elgin, TX—78621
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Elgin, TX
As of Nov '25, the median home price in Elgin, TX is $295,000, with a year-over-year change of -6.3%. This indicates that home prices in Elgin, TX are decreasing. According to Zillow, the 1-year price projection is -1.9%, suggesting a decrease housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $295,000 | -6.3% |
| Single Family | $295,000 | -6.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $236,000 | -7.5% |
3 Bed | $276,000 | -6.1% |
4 Bed | $301,000 | -6.8% |
| 5 Bed | $342,203 | -8.2% |
% of Housing Stock
Rental Trends — Elgin, TX
As of July '25, Rentcast reports the average rent in Elgin, TX is $1,780, with a year-over-year rent change of -3.3%. Per bedroom, the median rent as of July '25 in Elgin, TX is 1-bedrooms: $1,200, 2-bedrooms: $1,400, 3-bedrooms: $1,920, 4-bedrooms: $1,960. The most common rental property sizes in Elgin, TX are 3-bedroom and 2-bedroom, accounting for 47.7% and 28.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,820 | $1,780 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,150 | $1,200 |
| 2 Bed Rent | $1,320 | $1,400 |
| 3 Bed Rent | $1,850 | $1,920 |
| 4 Bed Rent | $1,980 | $1,960 |
% of Rental Stock
Property Listings — Elgin, TX
As of Nov '25, Realtor.com reports that the median days on market for a home in Elgin, TX is 72. This is a increase of 13.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $310,000 | -8.0% |
Listing Count | 246 | -5.0% |
| Listings as % of Homes | 1.0% | -5.0% |
Days on Market | 72 | 13.0% |
Demographics — Elgin, TX
As of the latest ACS Survey released in 2023, Elgin, TX has a population of 27,900, which has increased by 18.6% over the past 5 years. Elgin, TX is a popular place for families, as children make up 26.0% of the population. The area has a poorly educated workforce, with 23.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 27,900 | 18.6% |
% Under 18 | 26.0% | -8.5% |
% Seniors | 13.8% | 6.2% |
% WFH | 16.7% | 193.0% |
% w/ College Degree | 23.9% | 40.6% |
As of the latest ACS Survey released in 2023, Elgin, TX is a predominantly hispanic area, with 45.6% of the population identifying as hispanic. The hispanic population has grown by 11.8% in the last 5 years. The second most common race or ethnicity in Elgin, TX is white, making up 37.6% of the population. Foreign-born residents account for 16.9% of the population in Elgin, TX, and this percentage has increased by 7.6% 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 | 37.6% | -12.6% |
% Black | 10.9% | -23.8% |
% Hispanic | 45.6% | 11.8% |
% Asian | 0.4% | -42.9% |
% Foreign Born | 16.9% | 7.6% |
Mortgage and Risk — Elgin, TX
According to HUD data as of 2023, there were 913 mortgage originations in Elgin, TX, of which 47.0% of loans were conventional mortgages. The average loan-to-value was 88.0%, with 68.0% above 90% LTV (very high). This implies large mortgage risk in Elgin, TX. Investor activity is low, as 2.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 913 |
% Conventional Loans | 47.0% |
% Government Loans | 53.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 4.0% |
Rentals and Section 8 — Elgin, TX
As of 2024, the percent of homes in Elgin, TX under the Section 8 program is 4.8%. 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 Elgin, TX, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 121 |
Total Units Section 8 | 93 |
% Rentals under Section 8 | 4.8% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $330 | $1,150 | $1,480 |
| 2 Bedroom | $420 | $1,320 | $1,740 |
| 3 Bedroom | $380 | $1,850 | $2,230 |
| 4 Bedroom | $580 | $1,980 | $2,560 |
Affordability — Elgin, TX
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $295,000 |
| Median Household Income | $88,200 |