What HUD offices serve Elon, North Carolina?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the North Carolina Public Housing and Low-Income Apartments Waiting Lists page for openings near Elon.
How many renters live in Elon, North Carolina?
The City of Elon has 11,161 people living in 2,949 households.
There are 2,962 renters living in 1,199 renter households in this City. Renters make up 26.54 percent of the population living in Elon.
What is the rental market like in Elon, North Carolina?
There are an estimated 3,446 housing units in the Elon area. Of these, 1,397 units are rental homes, making up 41 percent of the housing market. For every renter household in Elon, North Carolina, there are 1 rental units.
What is the vacancy rate for rentals in Elon?
The rental vacancy rate in Elon is 8 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Elon for each bedroom size?
Occupied Rental Units by Size in Elon
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 29 | 84 | 429 | 426 | 184 |
Occupied Rental Units by Size in Elon
A large number of apartments in Elon have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Elon are overburdened by housing costs?
Among renter households in this market, 77 percent have housing cost burden. Further, 48 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Elon
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $828 to $1,713. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $828 |
| One BR | $1,043 |
| Two BR | $1,215 |
| Three BR | $1,523 |
| Four BR | $1,713 |
2024 Fair Market Rents in Elon, North Carolina
How many units are rented at Fair Market Rent (FMR) in Elon?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 0 | 100 percent |
| One BR | 57 | 68 percent |
| Two BR | 131 | 31 percent |
Rental Units Below FMR in Elon, North Carolina
How many affordable rental units are in Elon?
There are a variety of federal affordable housing programs serving households in Elon, North Carolina including the following:
| Federal Program | Unit Count |
| Section 8 Project-Based Rental Assistance | 5 |
| Section 811 Supportive Housing for Persons with Disabilities | 6 |
Tracked Units by Federal Program in Elon, North Carolina
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Elon, North Carolina
Elon features 12 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Elon, North Carolina
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Elon.
Housing Choice Vouchers in Elon, North Carolina
On average, Section 8 Housing Choice vouchers pay Elon landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Elon.
The maximum amount a voucher would pay on behalf of a low-income tenant in Elon, North Carolina for a two-bedroom apartment is between $1,094 and $1,337.
Sourced from federal housing data and AffordableHousingOnline.com research.
