Cost of Living in Elon, NC
Population 11,325 · North Carolina · Data vintage 2023
(100 = US avg)
With a median age of 22 and an unusually high bachelor's-degree rate of 29%, Elon is shaped heavily by its student population. That also means median household incomes of $82,717 skew low — the count includes students — while working-household figures run considerably higher. The labor market has been unusually tight, with unemployment around 2.8% — below most comparable cities in the state.
Located 20 miles east of Greensboro, Elon falls within that metro's commuting orbit. Median home values run roughly 61% higher than Greensboro's $221,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Elon
The median home value in Elon is $355,800 — 17% above the national median of $305,000. Median rent runs $1,584/month, 21% higher than the national median of $1,314/month. The median household income of $82,717/year is 11% higher than the US median of $74,580. The local unemployment rate is 2.8%, below the national average of 4.8%. North Carolina's top state income tax rate is 4.5% and the combined sales tax is 7.0%. The climate averages highs of 72.2°F and lows of 49.2°F. Overall, Elon has a cost of living index of 118 versus the US average of 100, meaning it is 18% more expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 52 | 56 | 64 | 74 | 80 | 88 | 91 | 89 | 83 | 73 | 63 | 55 |
| Low °F | 30 | 33 | 39 | 48 | 57 | 65 | 70 | 68 | 62 | 49 | 38 | 33 |
| Precip" | 3.07 | 2.81 | 3.88 | 3.83 | 3.37 | 4.28 | 4.65 | 3.53 | 4.40 | 3.09 | 3.27 | 3.12 |
Frequently Asked Questions
What is the cost of living in Elon, NC?
Elon has a cost index of 118 (100 = national average). It is 18% above the national average.
What is average rent in Elon, NC?
The median gross rent in Elon is $1,584 per month based on 2023 Census data.
What is the average home price in Elon?
The median home value in Elon is $355,800 according to Zillow and Census data.
What is the median income in Elon?
The median household income in Elon is $82,717 per year (2023 ACS 5-year estimates).
What is the sales tax in Elon, NC?
The combined state and local sales tax rate in Elon is 7.0%. The North Carolina state income tax top rate is 4.5%.
Is Elon, NC affordable?
Elon is above average in cost of living, with an index of 118 — about 18% higher than the national average.
What is the weather like in Elon?
Elon has average high temperatures of 72.2°F and average lows of 49.2°F. Annual precipitation is 43.3". Data from NOAA 1991–2020 Climate Normals.
Elon at a Glance
- Population
- 11,325
- Median Income
- $82,717
- Home Value
- $355,800
- Median Rent
- $1,584/mo
- Unemployment
- 2.8%
- Avg High Temp
- 72.2°F
- Sales Tax
- 7.0%
Nearby Cities
Explore county-level cost of living data
North Carolina Rankings
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