Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 2,996 people, 1,251 houses or apartments, and a median cost of homes of $276,778, Elkton real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Elkton, accounting for 73.66% of the town's housing units. Other types of housing that are prevalent in Elkton include large apartment complexes or high rise apartments ( 18.51%), duplexes, homes converted to apartments or other small apartment buildings ( 5.27%), and a few row houses and other attached homes ( 1.58%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Elkton. Owner-occupied housing accounts for 65.95% of Elkton's homes, and 60.65% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Elkton built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Elkton built between 1940-1969 ( 34.69%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.70%). There's also some housing in Elkton built before 1939 ( 10.16%).
Elkton's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Elkton during the period has been just 5.25%, which is lower than 70% of US communities.
Over the last year, Elkton appreciation rates have trailed the rest of the nation. In the last twelve months, Elkton's appreciation rate has been 0.12%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Elkton were at -6.06%, which equates to an annual appreciation rate of -22.14%.
Notably, Elkton's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Virginia, our data show that Elkton's latest annual appreciation rate is lower than 90% of the other cities and towns in Virginia.
$276,778
for Virginia
for nation
1,251
$1,168 / per month