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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Elkins Park, PA Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Elkins Park, PA Housing Market Trends

With a population of 6,901, 2,937 total housing units (homes and apartments), and a median house value of $490,551, Elkins Park real estate is some of the most expensive in Pennsylvania, although Elkins Park home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Elkins Park, accounting for 50.81% of the town's housing units. Other types of housing that are prevalent in Elkins Park include large apartment complexes or high rise apartments ( 34.21%), row houses and other attached homes ( 11.40%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.59%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Elkins Park. Owner-occupied housing accounts for 73.75% of Elkins Park's homes, and 46.48% have either three or four bedrooms, which is average sized relative to America.

The housing in Elkins Park was primarily built before 1939 ( 36.27%), making the housing stock in Elkins Park some of the oldest overall in America, although there is a range of ages of homes in Elkins Park. The next most important housing age is between 1940-1969 ( 29.81%), followed by between 1970-1999 ( 24.48%). There's also some housing in Elkins Park built between 2000 and later ( 9.43%).

Elkins Park Home Appreciation Rates

Elkins Park's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Elkins Park during the period has been just 4.68%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Elkins Park's appreciation rate, at 6.29%, has been at or slightly above the national average. In the latest quarter, Elkins Park's appreciation rate has been 0.82%, which annualizes to a rate of 3.32%.

Relative to Pennsylvania, our data show that Elkins Park's latest annual appreciation rate is higher than 60% of the other cities and towns in Pennsylvania.

Average Home Values

Median Home Value

$490,551

Elkins Park, PA Home Prices
> $1,327,000
$995,001 - $1,327,000
$663,001 - $995,000
$530,001 - $663,000
$398,001 - $530,000
$265,001 - $398,000
$133,001 - $265,000
$67,001 - $133,000
$0 - $67,000
0.0%
0.0%
3.3%
3.3%
9.0%
9.0%
23.4%
23.4%
29.4%
29.4%
21.6%
21.6%
7.6%
7.6%
4.6%
4.6%
1.1%
1.1%
0% 100.0%
% of Homes
Very High

for Pennsylvania

Very High

for nation

Number of Homes And Apartments:

2,937

Elkins Park Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,979 / per month

Homeownership Rate

Owners
Renters
73.8%
73.8%
26.2%
26.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
5.1%
5.1%
94.9%
94.9%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
9.4%
9.4%
24.5%
24.5%
29.8%
29.8%
36.3%
36.3%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
50.8%
50.8%
11.4%
11.4%
3.6%
3.6%
34.2%
34.2%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.6%
2.6%
14.3%
14.3%
20.9%
20.9%
27.3%
27.3%
19.2%
19.2%
15.7%
15.7%
0% 100.0%
% of Homes