Home Price Key
Affordable
Average
Expensive
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 $254,132, lower than the Virginia average of $323,261.
The average cost of rent is $988/mo in Elon, primarily driven by the current value of real estate in the Elon area. While nearly 48.63% of residents own their homes outright in Elon, 5.72% rent.
Housing affordability isn’t just about home prices, though. The average household income in Elon is $6,969 per month. Households that rent pay about 14.17% of their income on rent here. Elon's most expensive areas are in the northeastern regions, while the cheapest areas are in the eastern parts of the city.
Nearby Cities
- Monroe, VA: less expensive homes
- Madison Heights, VA: less expensive homes
- Pedlar Mills, VA: less expensive homes
- Coolwell, VA: less expensive homes
- Coleman Falls, VA: higher priced homes
- Sweet Briar, VA: less expensive homes
- Lynchburg, VA: less expensive homes
- Waugh, VA: equally priced homes
- Naola, VA: less expensive homes
- Joshua Falls, VA: less expensive homes
Cities with Similar Populations
- Liberty Pole, WI: less expensive homes
- Ringgold, MD: higher priced homes
- Rincon, NM: less expensive homes
- Ridgeview, WV: less expensive homes
- Marland, OK: less expensive homes
- Madley, PA: less expensive homes
- Lytton, IA: less expensive homes
- Lycippus, PA: less expensive homes
- Lodge, SC: less expensive homes
- Litchfield, PA: less expensive homes
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