Expensive
Affordable
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These days, finding an affordable place to live in the Elon area can be challenging. Home prices in Elon are now at a median cost of $362,748, higher than the North Carolina average of $323,314.
The average cost of rent is $1,473/mo in Elon, primarily driven by the current value of real estate in the Elon area. In Elon, 25.59% of households rent, and 30.49% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Elon is $7,422 per month. Households that rent pay about 19.84% of their income on rent here. Elon’s most expensive areas are in the southeastern regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Glen Raven, NC: less expensive homes
- Gibsonville, NC: less expensive homes
- Burlington, NC: less expensive homes
- Ossipee, NC: less expensive homes
- Alamance, NC: equally priced homes
- Elon College, NC: less expensive homes
- Whitsett, NC: less expensive homes
- Sedalia, NC: less expensive homes
- Bellemont, NC: less expensive homes
- Graham, NC: less expensive homes
Cities with Similar Populations
- Tremonton, UT: equally priced homes
- Cranbury, NJ: higher priced homes
- Woodbury, CT: higher priced homes
- Wilkesboro, NC: less expensive homes
- Cushing, OK: less expensive homes
- Cynthiana, KY: less expensive homes
- Darby, PA: less expensive homes
- Decorah, IA: less expensive homes
- Woodbine, MD: higher priced homes
- Victoria, MN: higher priced homes
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