27244, Elon, NC

The 27244 zip code of Elon, North Carolina is located in the foothills of the Blue Ridge Mountains and has a population of just over 10,000. Home prices in this zip code have been on the rise for the past few years, and as of March 2016 they were averaging $269,000. This is a significant increase from just two years ago when home prices in this zip code averaged $224,000.

One reason that home prices in this zip code have been increasing so rapidly is that there are many new homes being built in Elon. The majority of these homes are single-family detached homes, but there are also a number of condominiums and townhomes available for purchase. Additionally, many people who live in this zip code own their homes outright rather than renting them out.

One downside to the rapid increase in home prices in this zip code is that it may not be sustainable. If more people decide to buy homes here instead of rent them, then prices will likely continue to rise even further. In addition, if interest rates continue to rise then it may become more difficult for people to afford to buy homes here.