Welcome to the December 2024 Elon Apartment Report. In this assessment of
the local rental market, Rentable data scientists and rental experts break down the
December 2024 key findings and figures for the Elon rental landscape.
Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in
Elon and surrounding areas and provide comparisons to the entire metro area, nearby cities and
some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of
Elon average rent prices in the chart below.
Monthly Rent Report
$1,450
$1,090
$730
$360
$0
Jan. 2024
Feb. 2024
Mar. 2024
Apr. 2024
May. 2024
Jun. 2024
Jul. 2024
Aug. 2024
Sep. 2024
Oct. 2024
Nov. 2024
Dec. 2024
1 BR2 BR
Elon Rent Prices Increase From November to December
Elon rent prices increased over the last month. From November to December, the city experienced a 2.15% increase for the price of a one-bedroom apartment. The rent price for a Elon one-bedroom apartments currently stands at $761.0.
When we take a look at the two-bedroom comparison from November to December, Elon experienced a -5.74% decrease for the price of a two-bedroom apartment. The rent price for a Elon two-bedroom apartments currently stands at $986.0.
December Prices: Elon vs. Surrounding Areas
Rent Prices in Elon and Surrounding Areas
Rent prices have increased in Elon over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 0 of the Elon suburbs increased last month. On the other hand, 0 local areas experienced a decrease in the price of a one-bedroom apartment.
More key findings include:
Rents did not increase in any of the Elon suburbs
Rents did not decrease in any of the Elon suburbs.
December 2024 Pricing Trends: Elon vs. National Comparisons
New York, NY
San Francisco, CA
Los Angeles, CA
Washington, DC
Chicago, IL
Columbus, OH
Minneapolis, MN
Pittsburgh, PA
$4,134
$3,160
$2,389
$2,353
$1,914
$1,318
$1,255
$1,234
$0
$1,350
$2,700
$4,050
$5,400
Median Rent
Elon Rent Prices More Affordable Than Major Cities
Rent growth in Elon over the past year has been
on the rise. When compared to major cities nearby, along
with some of the most expensive cities in the country, Elon average rent prices appear to be
relatively affordable for local residents.
The price for a Elon one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.
For more information about Elon and surrounding area rent prices, take a look at the complete data set below.
Data set for Elon and suburbs
1 BR December
1 BR M/M % Change
2 BR December
2 BR M/M % Change
Methodology
Each month, using over 1 million Rentable listings across the United States, we calculate the median
1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To
avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and
property count thresholds.