ELON HOUSING MARKET INFORMATION With a population of 11,520, 2,854 total housing units (homes and apartments), and a median house value of $410,476, Elon real estate prices are well above average cost compared to national prices. Single-family detached homes are the single most common housing type in Elon, accounting for 67.28% of the town's housing units. Other types of housing that are prevalent in Elon include large apartment complexes or high rise apartments ( 13.37%), row houses and other attached homes ( 9.84%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.64%). The most prevalent building size and type in Elon are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 42.54% owning and 57.46% renting. Elon homes and real estate are some of the newest in America. 45.76% of Elon's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Elon real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 44.84%), and between 1940-1969 ( 8.18%). There's also some housing in Elon built before 1939 ( 1.22%). Vacant housing appears to be an issue in Elon. Fully 15.41% of the housing stock is classified as vacant. Left unchecked, vacant Elon homes and apartments can be a drag on the real estate market, holding Elon real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor. ELON HOME APPRECIATION RATES Appreciation rates for homes in Elon have been tracking above average for the last ten years, according to 蘑菇视频 data. The cumulative appreciation rate over the ten years has been 95.55%, which ranks in the top 50% nationwide. This equates to an annual average Elon house appreciation rate of 6.94%. 蘑菇视频's data show that during the latest twelve months, Elon's appreciation rate, at 7.07%, has been at or slightly above the national average. In the latest quarter, Elon's appreciation rate has been 1.47%, which annualizes to a rate of 6.02%. Relative to North Carolina, our data show that Elon's latest annual appreciation rate is lower than 60% of the other cities and towns in North Carolina.