Housing in Elba

A typical Elba home is worth roughly $127,000

Typical home value

$127K

MI $266K

Estimate

2-bedroom rent

$1,070

a month, utilities in · HUD

Median tax bill

$1,958

MI $2,904

What kind of housing town is Elba?

Read from the numbers below. The page puts what stands out first.

Your money goes further52% below the Michigan typical home.

★ What stands out · Affordability

A typical home costs 2.4 years of income

Less than across Michigan (3.7 years). Try your own numbers below.

You could afford about

$186,000

Typical Elba home $127K

That covers a typical Elba home, with $59K to spare.

The typical home, each month

$830

Loan $630Tax $160Insurance $40

A two-bedroom rents for about $1,070 a month here, $240 more than owning.

Where your budget reaches nearby

Washington$162K Duplain$162K

How Elba ranks on affordability →

An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Elba’s typical property tax (1.54% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.

Renting

A two-bedroom rents for about $1,070

Renters already here pay a median of $870, so moving in tends to cost more than staying put.

Fair Market Rent a month, utilities included

Studio$800

1 bedroom$840

2 bedrooms$1,070

3 bedrooms$1,410

4 bedrooms$1,540

29%

of households rent · MI 27%

renter households

37%

of renters spend 30%+ of income on rent · MI 50%

25%

of the median income, for a two-bedroom

$870

median rent paid today · Census

U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Lansing-East Lansing, MI MSA): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.

The homes

71% of Elba households own their home

Half of Elba’s homes were built before 1964.

Owners and renters

Own 71%Rent 29%

Michigan: 73% own.

1964

typical home built · MI 1972

$1,958

median property tax bill · MI $2,904

1.54%

of a home’s value, a year in tax · MI 1.25%

of homes are seasonal or vacation homes

U.S. Census Bureau, American Community Survey 2020-2024.

Next door

Elba vs. its neighbors

Elba is the least expensive of 3 neighboring towns. Tap one to see its housing page.

Washington$162K Duplain$162K Elba$127K

Compare more

Town	Typical value	1-yr change	2-bed rent	Median income
Elba	$127K*	—	$1,070	$52,344
Washington	$162K*	—	$1,130	$78,750
Duplain	$162K*	—	$1,030	$63,177

Typical value: Zillow Home Value Index; * Census median home value where Zillow has none. † FHFA price index change where Zillow has none. Rent: HUD Fair Market Rent. New homes: Census building permits.

Neighbors talk housing

What Elba buyers, sellers and renters are saying.

Town Square →

Weigh in

Is Elba still affordable for young families?

Your answer becomes a post in Town Square.

Start the conversation

Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.