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Featured local agent — Elgin, TX
Sarah Mitchell
Compass Real Estate · Elgin, TX
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Elgin, TX Housing Market & Real Estate
Housing market overview · Updated monthly ·
$289,750median sale price
How is the Elgin, TX housing market right now?
The median home sale price in Elgin, TX is $289,750, down 6.5% year-over-year. Homes sell in an average of 77 days with 129 active listings. The market is currently a buyer's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Elgin a buyer's or seller's market?
Elgin, TX is currently a buyer's market, based on 5.9 months of supply and homes selling in about 77 days. How we determine this →
Homes sold
22
Last 12 weeks
Days on market
77
Average pace
Active listings
129
5.9 months supply
Sale-to-list
99.3%
Below asking
What does the Elgin housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $289,750 |
| Median list price | $278,950 |
| Year-over-year price change | -6.5% |
| Average days on market | 77 days |
| Active inventory | 129 listings |
| Months of supply | 5.9 months |
| Sale-to-list price ratio | 99.3% |
| Median price per sq ft | $167/sq ft |
| Homes sold (latest month) | 22 |
| New listings (latest month) | 32 |
| Listings with a price cut | 42.6% |
| Market condition | Buyer's market |
Source: Redfin · Updated monthly
How much do homes cost in Elgin by property type?
How the Elgin, TX market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $293,000 | $170/sq ft | 21 | 85 days |
| Townhouse | $210,000 | $164/sq ft | 1 | 21 days |
Source: Redfin · Updated monthly
The Elgin housing market is currently classified as a buyer's market with a median sale price of $289,750. Prices have fallen 6.5% compared to last year, with homes spending an average of 77 days on market, indicating 5.9 months of inventory.This inventory level gives buyers significantly more negotiating power, allowing time to inspect properties thoroughly and potentially negotiate better terms.The price-to-income ratio of 3.2x provides context for how home values compare to local earning capacity.
Homes for sale in Elgin
There are currently 129 homes listed for sale in Elgin, Texas. The median listing price is $279K.
Active listings
129
Homes on market
Median list price
$279K
Avg. days on market
77
Days until sale
New this week
32
Newly listed
Who lives in Elgin?
Population
10,996
Median income
$85,666/yr
Median age
40.4 years
Owner-occupied
68.4%
College grads
22.5%
Avg commute
34.4 min
Source: U.S. Census Bureau ACS
What are homes worth in Elgin?
Zillow home value
$273,587
Zillow rent index
$1,792/mo
Price-to-rent ratio
12.7x
Price-to-income
3.2x
Source: Zillow Research
What is it like to live in Elgin?
Elgin is a community of approximately 11K residents with a median age of 40.4 years.The median household income is $85,666, which reflects a relatively affluent area with strong earning potential. 22.5% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 68.4%, reflecting strong community stability and long-term resident commitment. The average commute time is 34.4 minutes, which suggests a more suburban or rural location for those willing to commute longer distances.Overall, Elgin offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Elgin?
8 schools tracked · 5,715 students
The largest public schools serving Elgin, TX by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
ELGIN H S
Grades 9-12 · 1,779 students
ELGIN EL
Grades PK-4 · 885 students
ELGIN MIDDLE
Grades 7-8 · 805 students
ELGIN INT
Grades 5-6 · 773 students
BOOKER T WASHINGTON EL
Grades K-4 · 763 students
NEIDIG EL
Grades PK-4 · 664 students
PHOENIX H S
Grades 9-12 · 45 students
BASTROP COUNTY JUVENILE BOOT CAMP
Grades 10 · 1 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Elgin, TX?
Want a head-to-head view? Compare Elgin side-by-side with any other U.S. city using our market-comparison tool.
Is Elgin a good real estate investment market?
For investors evaluating Elgin, the price-to-rent ratio of 12.7x suggests potential rental yield opportunity, making the market attractive for income-focused investors. The market has softened 6.5% year-over-year, potentially creating entry opportunities for strategic buyers.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Elgin's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Elgin's median home price.
Frequently asked questions
What is the average home price in Elgin?
The median home sale price in Elgin is $289,750, down 6.5% from last year.
How long do homes stay on market in Elgin?
Homes typically spend 77 days on market before going under contract.
What is the median income in Elgin?
The median household income is $85,666 per year.
Is Elgin a buyer's or seller's market?
With 5.9 months of supply, Elgin is currently a buyer's market.
What is the Zillow home value estimate for Elgin?
The Zillow Home Value Index (ZHVI) for Elgin is $273,587, representing the typical home value in the area.
How much does a single-family home cost in Elgin?
The median single-family home price in Elgin, TX is $293,000 (about $170 per square foot).
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