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 a population of 188, 100 total housing units (homes and apartments), and a median house value of $564,261, real estate costs in Elbert are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Colorado communities.
Single-family detached homes are the single most common housing type in Elbert, accounting for 73.00% of the town's housing units. Other types of housing that are prevalent in Elbert include mobile homes or trailers ( 19.00%), duplexes, homes converted to apartments or other small apartment buildings ( 8.00%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Elbert. Owner-occupied housing accounts for 92.00% of Elbert's homes, and 54.00% have either three or four bedrooms, which is average sized relative to America.
The housing in Elbert was primarily built before 1939 ( 47.00%), making the housing stock in Elbert some of the oldest overall in America, although there is a range of ages of homes in Elbert. The next most important housing age is between 2000 and later ( 31.00%), followed by between 1970-1999 ( 22.00%).
In the last 10 years, Elbert has experienced some of the highest home appreciation rates of any community in the nation. Elbert real estate appreciated 107.64% over the last ten years, which is an average annual home appreciation rate of 7.58%, putting Elbert in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Elbert definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Over the last year, Elbert appreciation rates have trailed the rest of the nation. In the last twelve months, Elbert's appreciation rate has been -1.65%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Elbert were at -3.35%, which equates to an annual appreciation rate of -12.73%.
Notably, Elbert's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Colorado, our data show that Elbert's latest annual appreciation rate is lower than 90% of the other cities and towns in Colorado.
$1,947 / per month