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 3,640, 1,235 total housing units (homes and apartments), and a median house value of $285,269, Elgin real estate is some of the most expensive in Oklahoma, although Elgin home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Elgin, accounting for 82.58% of the city's housing units. Other types of housing that are prevalent in Elgin include duplexes, homes converted to apartments or other small apartment buildings ( 9.24%), mobile homes or trailers ( 4.43%), and a few row houses and other attached homes ( 2.75%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Elgin. Owner-occupied housing accounts for 67.37% of Elgin's homes, and 82.12% have either three or four bedrooms, which is average sized relative to America.
Elgin homes and real estate are some of the newest in America. 70.28% of Elgin's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Elgin real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 21.31%), and between 1940-1969 ( 6.80%). There's also some housing in Elgin built before 1939 ( 1.60%).
Elgin's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Elgin during the period has been just 4.22%, which is lower than 80% of US communities.
Over the last year, Elgin appreciation rates have trailed the rest of the nation. In the last twelve months, Elgin's appreciation rate has been -2.11%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Elgin were at -0.74%, which equates to an annual appreciation rate of -2.94%.
Notably, Elgin's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Oklahoma, our data show that Elgin's latest annual appreciation rate is lower than 90% of the other cities and towns in Oklahoma.
$285,269
for Oklahoma
for nation
1,235
$1,753 / per month