Here's what it costs to live in Elk River, Minnesota, based on the latest US government data. Renters pay a median of $1,269 per month, while the typical home is valued around $338,300. Households earn a median of $99,457 per year, leaving rent at a manageable share of income for many residents. The figures below cover housing, local wages by occupation, demographics, and air quality, all drawn from the US Census Bureau, BEA, HUD, and EPA.
Median Household Income
$99,457
Annual · Census ACS
Median Gross Rent
$1,269
Per month · Census ACS
Median Home Value
$338,300
Census ACS
Cost of Living Index
N/A
BEA RPP · US avg = 100
1BR Fair Market Rent
N/A
HUD FMR
2BR Fair Market Rent
N/A
HUD FMR
3BR Fair Market Rent
N/A
HUD FMR
HUD Fair Market Rent = 40th percentile gross rent · FY2024
State Income Tax
9.85%
Top marginal rate
State Sales Tax
6.88%
Statewide base rate (local add-ons may apply)
Source: Tax Foundation (2024)
| Occupation | Median Annual Wage |
|---|---|
| 💻Software Developer | N/A |
| 🏥Registered Nurse | N/A |
| 📚Elementary Teacher | N/A |
| ⚡Electrician | N/A |
| 📊Accountant | N/A |
Source: BLS OEWS 2023 (metro-level data)
Population
26,367
Latest estimate
Median Age
37.3 yrs
Census ACS
🌬️
AQI data not available
Source: EPA AirNow
What is the cost of living index for Elk River?
The cost of living index for Elk River is not yet available in our database.
What is the median rent in Elk River?
The median gross rent in Elk River is $1,269 per month according to US Census ACS data.
What is the median household income in Elk River?
The median household income in Elk River is $99,457 per year.
What is the median home value in Elk River?
The median home value in Elk River is $338,300 based on the latest Census ACS survey.
How is the air quality in Elk River?
Air quality data for Elk River is not yet available.
What are the taxes like in Elk River?
Minnesota has a top state income tax rate of 9.85% and a statewide sales tax of 6.88% (local rates may add to this). Source: Tax Foundation, 2024.
Data last updated: December 1, 2024 · Sources: US Census ACS, BEA RPP, BLS OEWS, HUD FMR, EPA AirNow, Tax Foundation · Methodology