Market Overview
Home Prices in Elkwood, VA
The median home value in Elkwood, VA is $518,258 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.8% compared to a year ago and up 1.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Elkwood are priced26% above average. Elkwood is part of the Washington-Arlington-Alexandria, DC-VA-MD-WV metro area.
Over the past five years, Elkwood home values have risen by approximately26.2%, reflecting strong long-term appreciation in this market.
Price History
Elkwood Home Price Trend
City Comparison
Elkwood vs. National Median
At $518,258, homes in Elkwood cost 26% above the national median of $410,000. Buyers in Elkwood should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Elkwood?
20% Down Payment
$103,652
on $518,258
Monthly P&I
$2,703/mo
30-yr @ 6.8%
Total Monthly Est.
~$3,433/mo
incl. taxes & insurance
Income Needed
$137,320
gross annual (30% rule)
10% Down Option
$51,826
+ PMI applies
Loan Amount (20% dn)
$414,606
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Elkwood, VA?
The median home value in Elkwood is $518,258 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.8% year-over-year.
How much have home prices changed in Elkwood?
Over the past year, home values in Elkwood have increased by 4.8%. Over five years, prices have risen approximately 26.2%.
How much do I need to earn to buy a home in Elkwood?
To comfortably afford the median home price of $518,258 with a 20% down payment ($103,652) at today's rates (6.8%), you'd need a gross annual income of approximately $137,320. This assumes keeping total housing costs at or below 30% of gross income.
How does Elkwood compare to the national average home price?
The national median home value is approximately $410,000. At $518,258, homes in Elkwood are 26% above the national average.
What metro area is Elkwood part of?
Elkwood is part of the Washington-Arlington-Alexandria, DC-VA-MD-WV metropolitan area. Home prices and market conditions can vary across the broader metro region.