States › North Carolina › Elon

Is Elon, NC expensive to live in?

OKRent takes 28 cents of every $1 people earn here.
🏠 Rent per month (2026)$2,16323% higher than U.S. average
💵 Families earn per year (2026)$91,428about $7,619/month · 5% higher than U.S. average
🔑 House price$366,30010% higher than U.S. average

Rent is higher than in 75% of U.S. cities. A typical house costs about 4.0 years of household income.

How much money do I need?

To rent here comfortably, you should earn about $86,520 a year. That is $42 an hour at a full-time job.

Is rent cheaper than other North Carolina cities?

No. Rent here is more expensive than in most of North Carolina. It is number 148 of 164 cities from cheapest to most expensive.

Elon
$2,163
Pineville
$1,836
Summerfield
$1,600
Spout Springs
$2,366
Tarboro
$976
Rolesville
$1,142
Winterville
$1,863

How much do households earn in Elon?

Under $25k
8.3%
$25k–50k
18.6%
$50k–100k
31.7%
$100k–150k
18.4%
$150k+
18.0%

Share of households by yearly income. 36.3% of households earn $100,000 or more.

Rent by apartment size in Elon

SizeElonU.S. average
2 bedrooms$2,320$1,509
3 bedrooms$3,161$1,698
4 bedrooms$2,536$2,098

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Elon overall?

Everyday prices in North Carolina overall are 6% below the U.S. average (index 94.3, U.S. = 100).

Housing
81
Goods (food, clothes…)
97
Utilities
89
Other services
98
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Elon, so the North Carolina figure is shown.

Taxes and bills in Elon

🏛️ Property tax$2,646a year · 0.72% of home value · U.S. $3,119
⚡ Electric bill$155a month (typical) · U.S. $156

Life in Elon

Commute to work20.1 minU.S.: 26.4 min
College degree51.5%U.S.: 35.7%
Own their home70.1%U.S.: 65.2%
Below poverty line20%U.S.: 12.5%
Unemployment5.1%U.S.: 5.2%

Is it cheaper to rent or buy in Elon?

Renting is cheaper right now: about $379 a month less.

Renting
$2,163
Owning
$2,542

Owning assumes a typical $366,300 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $36,630 for the down payment.

Frequently asked questions

What is the average rent in Elon, NC?

Renting in Elon costs a median of about $2,163 a month in 2026, including utilities. The North Carolina median is $1,496.

How much do I need to make to live in Elon?

To keep rent under 30% of income, you need about $86,520 a year, or $42 an hour at a full-time job.

Is Elon cheap or expensive?

Elon is rated OK: rent takes 28.4% of the typical household income of $91,428. It ranks 148th cheapest of 164 North Carolina cities we track.

How much are property taxes in Elon?

The median homeowner in Elon pays $2,646 a year in property taxes, about 0.72% of the median home value.

Is Elon more expensive than the national average?

Overall prices in North Carolina are 6% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Elon?

The median home value in Elon is $366,300, about 4.0 times the typical yearly household income.

11,032 people live in Elon. Numbers are typical (middle) values.