Elk, MN Cost of Living


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Elk cost of living score
72.4
Less expensive
27.6% lower
than the US average
25.5% lower
than the Minnesota average
Elk, Minnesota gets a BestPlaces Cost of Living score of 72.4, which means the total cost of housing, food, childcare, transportation, healthcare, taxes, and other necessities is 27.6% lower than the U.S. average and 25.5% higher than the average for Minnesota.

Elk, MN

Housing costs in Elk?
A typical home costs $316,100, which is 6.5% less expensive than the national average of $338,100 and 2.1% more expensive than the average Minnesota home, at $309,500. Renting a two-bedroom unit in Elk costs $920 per month, which is 35.7% more than the national average of $1,430 and 34.8% more than the state average of $1,240.

Can I afford Elk?
To live comfortably in Elk, Minnesota, a minimum annual income of $60,480 for a family, and $28,000 for a single person is recommended.

What does A.I. say about Elk?
Elk, MN is known for its affordability and reasonable cost of living. The median home value in Elk is around $200,000, a price point that is low compared to national averages and other towns in the area. Renters can expect to pay an average of $1,100 per month for a two bedroom unit. Groceries, gas and other essentials are also generally affordable when purchased locally. Overall, Elk has a low cost of living compared to most parts of the country and is an attractive option for those looking to save money while enjoying small-town life.
   Cost of living score
     CategoriesElkMinnesotaUnited States
  72.497.2100.0
  96.497.2100
  83.278.3100.0
  75.5102.9100.0
  $316,100$309,500$338,100
  93.1%95.7%100.0%
  63.796.4100.0
  75.3117.4100.0

   100=National Average

   Average Rent by Bedroom Size
Crime
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