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City Report · NC

Elon

Pop. 11,032·85th most expensive in North Carolina·Rental market data updated monthly for Elon, NC
Median rent (all units)
$1,522/mo
Year-over-Year
Stable
Month-over-Month
+34.1%
vs US Median
-$440
Rising (Monthly)
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Most AffordableMost Expensive
Elon · $1,522
More affordable than 73% of US cities · National median $1,962/mo
Affordability
22% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $1,522/mo, rent takes about 22% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$61,000/yr
Local median income
$84,773/yr
Based on the 30%-of-income rule using Elon's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$910
1 BR
$1,070
2 BR
$1,180
3 BR
$1,500
4 BR+
$1,750
Fair Market Rent (HUD)
$1,180/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,522 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: April 17, 2026

Annual cost
$18,264/yr
At $1,522/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.0% YoY, +34.1% MoM), not inventory.
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Demographics

Who lives here

Elon, NC is majority owner-occupied, skews toward younger working-age adults, 51.5% of residents hold a bachelor's degree or higher.

Population
11,032
Median income
$84,773
Median age
21.2
Renters
29.9%
Age distribution
53.8%
13.4%
13.2%
Under 1810.7%
18–3453.8%
35–5413.4%
55–648.9%
65+13.2%
Gender
40.1%
59.9%
Male40.1%
Female59.9%
Race & ethnicity
79.5%
White79.5%
Black10.5%
Hispanic3.2%
Asian4.2%
Other2.7%
Education (25+)
16.2%
27.1%
51.5%
No HS diploma5.2%
HS diploma16.2%
Some college27.1%
Bachelor's+51.5%
Housing tenure
70.1%
29.9%
Owner70.1%
Renter29.9%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Elon, NC has changed in 5 years

Income
$68,031 → $84,773
up 24.6%
Population
11,059 → 11,032
down 0.2%
Renter share
39.4% → 29.9%
-9.5 pts
Bachelor's+
54.3% → 51.5%
-2.8 pts
Median age
21.9 → 21.2
-0.7 yrs

Household income in the area moved from $68,031 to $84,773 across the same window, up 24.6% versus 2021. About 29.9% of households rent today, against 39.4% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher slipped from 54.3% to 51.5%.

Community

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View Elon rent history (2015–2026) →
Salary vs rent

Can you afford rent in Elon on your salary?

At $1,522/mo, how Elon rent compares to typical pay (30% rule).

By apartment size

Elon rent by bedroom count

Median rent for each apartment size in Elon. Click any size for full breakdown.

Local insights

Tips for renters in Elon

About renting in Elon, NC

Last updated: April 17, 2026

The median rent in Elon is $1,522/mo as of April 2026. A studio apartment averages $910/mo while a 2-bedroom runs $1,180/mo. One-bedroom apartments average $1,070/mo and 3-bedroom units go for $1,500/mo.

At 22% of local median household income ($84,773/yr), Elon ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Elon an affordable city for renters?

Elon is considered very affordable for renters. At $1,522/mo, rent takes approximately 22% of the local median household income ($84,773/yr). The standard benchmark is 30%. Elon falls comfortably within that range.

How much income do you need to rent in Elon?

To keep rent at or below 30% of gross income, you would need to earn at least $61,000/year (~$29/hour full-time) to afford the median rent of $1,522/mo in Elon. The local median household income is $84,773/yr, meaning the typical Elon household meets that threshold.

Is rent going up or down in Elon?

Rent in Elon has been relatively stable over the past year, with a 0.0% change year over year as of April 2026.

How does Elon rent compare to other cities in North Carolina?

Elon is one of the more affordable cities in North Carolina for rent, ranking #85 out of 121 tracked cities at $1,522/mo.

Which nearby cities are cheaper to rent in than Elon?

Several nearby cities have lower median rents than Elon ($1,522/mo): Browns Summit ($1,305/mo), Burlington ($1,321/mo).

What percentage of Elon residents rent vs. own?

According to Census data, approximately 29.9% of Elon households are renters, while 70.1% are owner-occupied. Elon leans toward homeownership, which can mean a smaller rental inventory.

How does Elon rent compare to the national average?

Elon's median rent of $1,522/mo is $440 (22%) below the US national median of $1,962/mo. Within North Carolina, it ranks #85 out of 121 tracked cities.
Income Affordability
22%
VERY AFFORDABLE

At $1,522/mo, rent takes ~22% of Elon's median household income ($84,773/yr). The standard benchmark is 30%.

Elon 22%Benchmark 30%
State income tax4.5%
Run the Elon affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Elon, NC

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