Living in Elk River, Minnesota
Cost of living, income, home prices, rent and demographics of Elk River · Census data 2020–2024
Elk River has 26,793 residents with a median age of 37.2. The median household income is $108,741 (22% higher than the Minnesota median), the median home value is $370,100, the median rent is $1,283/month.
Elk River at a glance
- Population
- 26,793
- Median age
- 37.2State: 38.8
- Median household income
- $108,741State: $89,062
- Median home value
- $370,100State: $329,300
- Median rent
- $1,283/moState: $1,280
- Homeowners
- 79.2%
- Bachelor's degree or higher
- 33.8%
- Average commute
- 27 min
Is Elk River a good place to live?
Pros: Median household income 22% higher than the Minnesota median; unemployment of 1.6%; a poverty rate of 3.4%.
Cons: Home values 12% higher than the state median; an average commute of 27 minutes.
The weather is best in June to September.
Cost of living in Elk River
Housing is the biggest part of the cost of living. In Elk River the median home value is $370,100, 11% higher than the U.S. median. Renters pay a median of $1,283 per month, which is 26.1% of household income. Homeowners with a mortgage pay $2,075 a month in housing costs.
Elk River median household income
The median household income in Elk River is $108,741 and the income per person is $50,113. 3.4% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Elk River: homes for sale and rent
- Housing units
- 10,214
- Owner-occupied
- 79.2%
- Renter-occupied
- 20.8%
- Vacant
- 3.7%Includes seasonal homes
- Median year built
- 1997
- Average household size
- 2.66
Elk River demographics
- Population
- 26,793
- Median age
- 37.2
- Under 18
- 24.8%
- 65 and older
- 13.7%
- Households
- 9,835
- Foreign-born
- 5.8%
- Veterans
- 7%Adults 18+
Hispanic or Latino can be of any race. Population history of Elk River ›
Education in Elk River
33.8% of adults 25 and older in Elk River have a bachelor's degree or higher (Minnesota: 39.4%), and 8.6% have a graduate or professional degree.
Jobs and commute in Elk River
- Unemployment rate
- 1.6%State: 4.1%
- Average commute
- 27 minState: 23 min
- Work from home
- 15.8%
- Drive alone
- 76.2%
- Public transit
- 1.3%
- Walk to work
- 0.3%
- Homes with broadband
- 92.7%
Elk River vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Elk River | 26,793 | $108,741 | $370,100 | $1,283 |
| Otsego | 22,245 | $119,927 | $396,700 | $1,765 |
| Nowthen | 4,538 | $160,417 | $460,000 | — |
| Ramsey | 28,421 | $116,415 | $359,600 | $1,826 |
| Zimmerman | 6,546 | $85,645 | $323,600 | $1,398 |
| Albertville | 8,207 | $132,734 | $343,700 | $1,348 |
| Big Lake | 12,367 | $120,549 | $330,200 | $1,340 |
| St. Francis | 8,372 | $111,198 | $327,600 | $1,287 |
| Rogers | 13,685 | $158,750 | $459,700 | $1,789 |
More for people moving to Elk River
Elk River ZIP code ›Weather and climate ›Living in Elk River: FAQ
What is the median household income in Elk River, MN?
The median household income in Elk River is $108,741, 22% higher than the Minnesota median of $89,062 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Elk River?
The median home value in Elk River is $370,100, compared with $329,300 in Minnesota.
How much is rent in Elk River?
The median gross rent in Elk River is $1,283 per month, about 26.1% of household income.
Is Elk River, MN a good place to live?
Pluses: median household income 22% higher than the Minnesota median; unemployment of 1.6%; a poverty rate of 3.4%. Minuses: home values 12% higher than the state median; an average commute of 27 minutes.
What is the median age in Elk River?
The median age in Elk River is 37.2 years (Minnesota: 38.8).
How long is the commute in Elk River?
The average commute to work in Elk River is 27 minutes; 15.8% of workers work from home.
What is the unemployment rate in Elk River?
The unemployment rate in Elk River is 1.6% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Elk River?
33.8% of adults in Elk River have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
Last updated: