The typical owner-occupied home in Elkton is worth about $283,300, 41% below the Oregon median of $477,600 and 15% below the national median of $332,700. Owners pay a median $1,633 a year in property taxes, about 0.58% of their home's value, lower than the Oregon rate of 0.81%. The median household earns $37,361 a year, so the median home costs 7.6 times the median income (5.8 times for Oregon). 89% of occupied homes here are lived in by their owners, and 56% of those owners still have a mortgage.
Elkton at a glance
| Elkton | Oregon | U.S. | |
|---|---|---|---|
| Median home value | $283,300 | $477,600 | $332,700 |
| Median property tax paid per year | $1,633 | $3,876 | $3,119 |
| Property tax as a share of value | 0.58% | 0.81% | 0.94% |
| Median household income | $37,361 | $83,011 | $80,734 |
| Homes lived in by their owners | 89% | 63% | 65% |
| Owner homes with a mortgage | 56% | 65% | 61% |
| Median monthly costs, owners with a mortgage | $1,554 | $2,157 | $1,963 |
| Those costs as a share of the owners' income | 36.9% | 22.4% | 21.0% |
| Median rent | $890 | $1,525 | $1,413 |
| Rent as a share of renters' income | 32.5% | 31.3% | 30.6% |
| Median year homes were built | 1983 | 1981 | 1980 |
| Vacant homes | 16.8% | 7.5% | 10.1% |
| Population | 150 | 4,254,293 | 334,922,499 |
What a typical home costs per month in Elkton
At this week's average 30-year rate of 7.11%, buying the median Elkton home of $283,300 with 20% down costs about $1,780 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,252, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $76,268 for the 20%-down payment. That payment is 57% of the median Elkton household income of $37,361; at that income and 20% down, the 28% guideline points to a home of about $139,000.
The median rent here is $890 a month, so owning the median home costs about $890 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $56,660 |
|---|---|
| Loan amount | $226,640 |
| Principal and interest | $1,525 |
| Property taxes (0.58% a year) | $137 |
| Homeowners insurance (our estimate, 0.5% a year) | $118 |
| PMI | $0 |
| Total per month | $1,780 |
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| Down payment | $9,916 |
|---|---|
| Loan amount | $278,169 |
| Principal and interest | $1,871 |
| Property taxes (0.58% a year) | $137 |
| Homeowners insurance (our estimate, 0.5% a year) | $118 |
| FHA mortgage insurance | $125 |
| Total per month | $2,252 |
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Questions about home buying in Elkton
What is the median home value in Elkton?
About $283,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Elkton?
Homeowners pay a median $1,633 a year, which is about 0.58% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Elkton?
For the median home with 20% down at 7.11%, the payment is about $1,780 a month. Keeping that under 28% of gross income takes about $76,268 a year.
More about Elkton
- Mortgage Refinance in Elkton
- Debt Relief in Elkton
- Home Equity Loans in Elkton
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data