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 1,612 people, 684 houses or apartments, and a median cost of homes of $280,857, Elgin 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 Elgin, accounting for 98.45% of the town's housing units. Other types of housing that are prevalent in Elgin include mobile homes or trailers ( 1.13%).
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 89.18% of Elgin's homes, and 91.38% have either three or four bedrooms, which is average sized relative to America.
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 ( 39.55%). A lesser amount of the housing stock also hails from between 1940-1969 ( 6.21%).
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 6.34% during the period.
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 1.65%, 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 2.63%, which equates to an annual appreciation rate of 10.92%.
Relative to South Carolina, our data show that Elgin's latest annual appreciation rate is lower than 90% of the other cities and towns in South Carolina.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Elgin differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Elgin - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Elgin real estate investment or home purchase decisions.
$280,857
for South carolina
for nation
684
$1,743 / per month