Elizabeth City, NC has seen a significant rise in its housing market median value over the past year. At $220,900, Elizabeth City's median housing value is significantly lower than the US median of $338,100. Despite this gap in values, Elizabeth City's 1 year house appreciation is 13.68%, much higher than the US appreciation rate of 8.27%. This indicates that there is an opportunity for investors to purchase homes in Elizabeth City at a lower cost and receive higher returns than those available nationally. Furthermore, due to the rapidly rising demand for housing in Elizabeth City, it can be expected that this trend will continue in the future.
The median home cost in Elizabeth City is $220,900. Home appreciation the last 10 years has been 72.3%. Home Appreciation in Elizabeth City is up 19.6%.
Average Age of Homes
- The median age of Elizabeth City real estate is 50 years old
The Rental Market in Elizabeth City
- Renters make up 46.0% of the Elizabeth City population
- 4.4% of houses and apartments in Elizabeth City, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.