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Elgin, TX 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 Q2 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

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

Elgin, TX Housing Market Trends

With a population of 9,784, 3,033 total housing units (homes and apartments), and a median house value of $423,750, Elgin real estate is some of the most expensive in Texas, 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 73.31% 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 ( 14.68%), mobile homes or trailers ( 5.11%), and a few row houses and other attached homes ( 4.96%).

The most prevalent building size and type in Elgin are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.72% owning and 37.28% renting.

There is a lot of housing in Elgin 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 Elgin built between 2000 and later ( 26.87%). A lesser amount of the housing stock also hails from between 1940-1969 ( 23.10%). There's also some housing in Elgin built before 1939 ( 15.64%).

Elgin Home Appreciation Rates

In the last 10 years, Elgin has experienced some of the highest home appreciation rates of any community in the nation. Elgin real estate appreciated 148.38% over the last ten years, which is an average annual home appreciation rate of 9.52%, putting Elgin in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Elgin definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Elgin that despite a nationwide downturn in the housing market, Elgin real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Elgin appreciation rates continue to be some of the highest in America, at 19.01%, which is higher than appreciation rates in 79.70% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Elgin. Elgin appreciation rates in the latest quarter were at 4.62%, which equates to an annual appreciation rate of 19.80%.

Importantly, this makes Elgin one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Texas, our data show that Elgin's latest annual appreciation rate is lower than 70% of the other cities and towns in Texas.

Average Home Values

 

Median Home Value:
$423,750

Elgin, TX HOME PRICES

> $1,623,000
$1,217,001 - $1,623,000
$811,001 - $1,217,000
$649,001 - $811,000
$487,001 - $649,000
$325,001 - $487,000
$162,001 - $325,000
$81,001 - $162,000
$0 - $81,000
0.0%
0.0%
0.8%
0.8%
7.3%
7.3%
4.4%
4.4%
9.4%
9.4%
22.4%
22.4%
39.1%
39.1%
9.9%
9.9%
6.7%
6.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for TX

Value Relative To Nation

Number Of Homes And Apartments:
3,033

Elgin Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2022 Q1 - 2022 Q2
Last 12 Months:
2021 Q2 - 2022 Q2
Last 2 Years:
2020 Q2 - 2022 Q2
Last 5 Years:
2017 Q2 - 2022 Q2
Last 10 Years:
2012 Q2 - 2022 Q2
Since 2000:
2000 Q1 - 2022 Q2
193.45% 4.90%
7
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,803 / per month

Homeownership Rate

Owners
Renters
Vacant
62.7%
62.7%
37.3%
37.3%
9.8%
9.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
26.9%
26.9%
34.4%
34.4%
23.1%
23.1%
15.6%
15.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
73.3%
73.3%
5.0%
5.0%
14.7%
14.7%
1.9%
1.9%
5.1%
5.1%
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
2.5%
2.5%
2.4%
2.4%
29.2%
29.2%
46.3%
46.3%
18.8%
18.8%
0.9%
0.9%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Elgin

Zip Codes in Elgin, TX