The typical owner-occupied home in Elk County is worth about $133,600, 48% below the Pennsylvania median of $254,500 and 60% below the national median of $332,700. Owners pay a median $1,697 a year in property taxes, about 1.27% of their home's value, close to the Pennsylvania rate of 1.30%. The median household earns $66,380 a year, so the median home costs 2.0 times the median income (3.3 times for Pennsylvania). 80% of occupied homes here are lived in by their owners, and 40% of those owners still have a mortgage.
Elk County at a glance
| Elk County | Pennsylvania | U.S. | |
|---|---|---|---|
| Median home value | $133,600 | $254,500 | $332,700 |
| Median property tax paid per year | $1,697 | $3,311 | $3,119 |
| Property tax as a share of value | 1.27% | 1.30% | 0.94% |
| Median household income | $66,380 | $77,971 | $80,734 |
| Homes lived in by their owners | 80% | 69% | 65% |
| Owner homes with a mortgage | 40% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,139 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 16.3% | 19.4% | 21.0% |
| Median rent | $719 | $1,209 | $1,413 |
| Rent as a share of renters' income | 27.9% | 29.2% | 30.6% |
| Median year homes were built | 1961 | 1965 | 1980 |
| Vacant homes | 21.1% | 9.2% | 10.1% |
| Population | 30,506 | 13,018,639 | 334,922,499 |
What a typical home costs per month in Elk County
At this week's average 30-year rate of 7.11%, buying the median Elk County home of $133,600 with 20% down costs about $916 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,139, 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 $39,259 for the 20%-down payment. That payment is 17% of the median Elk County household income of $66,380; at that income and 20% down, the 28% guideline points to a home of about $226,000.
The median rent here is $719 a month, so owning the median home costs about $197 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $26,720 |
|---|---|
| Loan amount | $106,880 |
| Principal and interest | $719 |
| Property taxes (1.27% a year) | $141 |
| Homeowners insurance (our estimate, 0.5% a year) | $56 |
| PMI | $0 |
| Total per month | $916 |
Change the numbers in the calculator
| Down payment | $4,676 |
|---|---|
| Loan amount | $131,180 |
| Principal and interest | $882 |
| Property taxes (1.27% a year) | $141 |
| Homeowners insurance (our estimate, 0.5% a year) | $56 |
| FHA mortgage insurance | $59 |
| Total per month | $1,139 |
Change the numbers in the calculator
Questions about home buying in Elk County
What is the median home value in Elk County?
About $133,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Elk County?
Homeowners pay a median $1,697 a year, which is about 1.27% 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 Elk County?
For the median home with 20% down at 7.11%, the payment is about $916 a month. Keeping that under 28% of gross income takes about $39,259 a year.
More about Elk County
- Mortgage Refinance in Elk County
- Debt Relief in Elk County
- Home Equity Loans in Elk County
- 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