Investment metrics, interactive calculators, and data-driven analysis for Elizabeth City rental properties.
Market data powered by Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI) · Updated Feb 2026
Pre-filled with Elizabeth City medians. Adjust to match a specific property.
Factor in financing to see your actual return on invested capital in Elizabeth City.
Elizabeth City, NC has a population of 50,000 and has been growing at 1.5% annually — above the national average, suggesting steady demand pressure on housing. The median home price of $260,000 paired with median rents of $1,490/mo produces an estimated cap rate of 4.93%.
Property taxes at 0.78% are well below the national average of ~1.1%, providing a meaningful cash flow advantage many investors overlook. The vacancy rate of 5.3% is moderate and within normal parameters for a healthy rental market.
At a price-to-income ratio of 4.5x, homes cost about 4.5 times the local median income of $58,267. This relatively affordable ratio suggests a deep pool of renters who find buying out of reach, supporting rental demand. Home values have appreciated at roughly 3.2% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: Elizabeth City presents moderate opportunities. Cap rates near 4.93% mean deals need careful sourcing — look for value-add rehabs or emerging neighborhoods where rents are climbing.