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
With a population of 2,809, 1,278 total housing units (homes and apartments), and a median house value of $164,431, 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 71.77% of the town's housing units. Other types of housing that are prevalent in Elkton include large apartment complexes or high rise apartments ( 18.35%), duplexes, homes converted to apartments or other small apartment buildings ( 7.12%), and a few row houses and other attached homes ( 2.76%).
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 68.47% of Elkton's homes, and 59.95% 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 ( 31.05%). A lesser amount of the housing stock also hails from before 1939 ( 15.39%). There's also some housing in Elkton built between 2000 and later ( 12.77%).
Vacant housing appears to be an issue in Elkton. Fully 14.11% of the housing stock is classified as vacant. Left unchecked, vacant Elkton homes and apartments can be a drag on the real estate market, holding Elkton real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
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 -1.76%, which is lower than 80% 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 -2.17%, 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 -0.75%, which equates to an annual appreciation rate of -2.98%.
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.
|$736,001 - $981,000||1.0|
|$490,001 - $736,000||2.0|
|$392,001 - $490,000||2.6|
|$294,001 - $392,000||4.5|
|$196,001 - $294,000||24.4|
|$98,001 - $196,000||48.6|
|$49,001 - $98,000||11.2|
|$0 - $49,000||5.5|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Elkton HOMES|
|2000 or Newer||12.8|
|1970 - 1999||40.8|
|1940 - 1969||31.0|
|1939 or Older||15.4|
|TYPE OF Elkton HOMES|
|Small Apt. Buildings||7.1|
|SIZE OF Elkton HOMES|
|5 or more bedrooms||2.62|