The typical owner-occupied home in Elrama is worth about $97,300, 62% below the Pennsylvania median of $254,500 and 71% below the national median of $332,700. Owners pay a median $1,224 a year in property taxes, about 1.26% of their home's value, close to the Pennsylvania rate of 1.30%. The median household earns $31,824 a year, so the median home costs 3.1 times the median income (3.3 times for Pennsylvania). 42% of occupied homes here are lived in by their owners, and 65% of those owners still have a mortgage.
Elrama at a glance
| Elrama | Pennsylvania | U.S. | |
|---|---|---|---|
| Median home value | $97,300 | $254,500 | $332,700 |
| Median property tax paid per year | $1,224 | $3,311 | $3,119 |
| Property tax as a share of value | 1.26% | 1.30% | 0.94% |
| Median household income | $31,824 | $77,971 | $80,734 |
| Homes lived in by their owners | 42% | 69% | 65% |
| Owner homes with a mortgage | 65% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $854 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 9.0% | 19.4% | 21.0% |
| Median rent | – | $1,209 | $1,413 |
| Median year homes were built | 1945 | 1965 | 1980 |
| Vacant homes | 0.0% | 9.2% | 10.1% |
| Population | 279 | 13,018,639 | 334,922,499 |
What a typical home costs per month in Elrama
At this week's average 30-year rate of 7.11%, buying the median Elrama home of $97,300 with 20% down costs about $666 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $828, 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 $28,557 for the 20%-down payment. That payment is 25% of the median Elrama household income of $31,824; at that income and 20% down, the 28% guideline points to a home of about $108,000.
| Down payment | $19,460 |
|---|---|
| Loan amount | $77,840 |
| Principal and interest | $524 |
| Property taxes (1.26% a year) | $102 |
| Homeowners insurance (our estimate, 0.5% a year) | $41 |
| PMI | $0 |
| Total per month | $666 |
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| Down payment | $3,406 |
|---|---|
| Loan amount | $95,538 |
| Principal and interest | $643 |
| Property taxes (1.26% a year) | $102 |
| Homeowners insurance (our estimate, 0.5% a year) | $41 |
| FHA mortgage insurance | $43 |
| Total per month | $828 |
Change the numbers in the calculator
Questions about home buying in Elrama
What is the median home value in Elrama?
About $97,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Elrama?
Homeowners pay a median $1,224 a year, which is about 1.26% 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 Elrama?
For the median home with 20% down at 7.11%, the payment is about $666 a month. Keeping that under 28% of gross income takes about $28,557 a year.
More about Elrama
- Mortgage Refinance in Elrama
- Debt Relief in Elrama
- Home Equity Loans in Elrama
- 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