Cost of Living in Elk River, MN
Population: 26,367 • 2026 Data
$99,457
Median Household Income
+29% vs national
$1,269
Median Monthly Rent
-6% vs national
$338,300
Median Home Value
+0% vs national
2.7%
Unemployment Rate
Housing in Elk River
The median home value in Elk River, MN is $338,300. Monthly rent for a typical unit averages $1,269, while total monthly housing costs (including utilities and insurance) average $1,576.
Rent-to-income ratio: 15.3%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Elk River, MN is $99,457. The unemployment rate stands at 2.7%, with a labor force of 14,499 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.