Housing costs in Elk River?
A typical home costs
$362,100, which is 7.1% more expensive than the national average of
$338,100 and 17.0% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Elk River costs
$1,310 per month, which is 8.4% cheaper than the national average of
$1,430 and 5.3% more than the state average of
$1,240.
Can I afford Elk River?
To live comfortably in Elk River, Minnesota, a minimum annual income of
$69,480 for a family, and
$42,800 for a single person is recommended.
What does A.I. say about Elk River?
The cost of living in Elk River, MN is quite reasonable. The cost of housing is lower than the national average and the median home value is $196,400, according to Zillow. Other costs such as healthcare, groceries, and transportation are all fairly low in comparison to other areas of the country. In addition, there are plenty of entertainment options for families including parks and trails for recreation and multiple shopping centers for convenience. With its variety of affordable amenities, Elk River makes a great destination for those looking to live within their means.