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Elk Park

Learn about the people, housing, costs and businesses in Elk Park, North Carolina

Median Home$204,600
Median Rent$645/month
Population518
Leading IndustriesManufacturing · Agriculture & Mining · Construction10% manufacturing
Home Value Growth⬆⬆⬆+43.4% over 2 years
Retirees21% of residentsnear the national average
Homeowners76% of occupied units
Elk Park
NC

Frequently Asked Questions

What are today's mortgage rates in Elk Park?

As of today, the 30-year fixed mortgage rate for Elk Park is approximately 6.983% (7.022% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Elk Park?

The median home value in Elk Park is $205k. The median monthly rent is $645. Annual property taxes average $837. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Elk Park?

Home values in Elk Park have increased 43.4% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Elk Park?

Based on a typical all-in ownership cost of $441/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $19k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Elk Park is $44k/year.

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What industries drive the economy in Elk Park?

The largest employment sectors in Elk Park are public administration (20%) and agriculture and mining (18%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.