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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.



Elgin, OK 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 2024. 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

Elgin, OK Housing Market Trends

With 3,640 people, 1,235 houses or apartments, and a median cost of homes of $351,655, 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 Home Appreciation Rates

Real estate appreciation rates in Elgin's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.26% during the period.

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 14.28%, which is higher than appreciation rates in 96.95% 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 -0.33%, which equates to an annual appreciation rate of -1.32%.

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 higher than 90% of the other cities and towns in Oklahoma.

Average Home Values

Median Home Value

$351,655

Elgin, OK Home Prices
> $1,647,000
$1,235,001 - $1,647,000
$823,001 - $1,235,000
$659,001 - $823,000
$494,001 - $659,000
$329,001 - $494,000
$165,001 - $329,000
$82,001 - $165,000
$0 - $82,000
0.2%
0.2%
0.0%
0.0%
0.7%
0.7%
2.6%
2.6%
15.0%
15.0%
42.5%
42.5%
25.9%
25.9%
10.3%
10.3%
2.7%
2.7%
0% 100.0%
% of Homes
Very High

for Oklahoma

High

for nation

Number of Homes And Apartments:

1,235

Elgin Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,741 / per month

Homeownership Rate

Owners
Renters
67.4%
67.4%
32.6%
32.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
5.7%
5.7%
94.3%
94.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
70.3%
70.3%
21.3%
21.3%
6.8%
6.8%
1.6%
1.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
82.6%
82.6%
2.8%
2.8%
9.2%
9.2%
1.0%
1.0%
4.4%
4.4%
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
0.0%
0.0%
0.0%
0.0%
16.5%
16.5%
46.0%
46.0%
36.1%
36.1%
1.4%
1.4%
0% 100.0%
% of Homes

Popular Neighborhoods in Elgin

Zip Codes in Elgin, OK