Housing costs in Elk River?
A typical home costs
$355,900, which is 5.3% more expensive than the national average of
$338,100 and 15.0% more expensive than the average Minnesota home, at
$309,500. Renting a two-bedroom unit in Elk River costs
$1,260 per month, which is 1.6% more than the national average of
$1,240 and 11.1% cheaper than the state average of
$1,400.
Can I afford Elk River?
To live comfortably in Elk River (zip 55330), Minnesota, a minimum annual income of
$68,040 for a family, and
$41,200 for a single person is recommended.
What does A.I. say about Elk River?
The cost of living in 55330 Elk River, MN is quite reasonable compared to other parts of Minnesota and the United States as a whole. According to Sperling's Best Places, the overall cost of living index in the area is 83.3, which is significantly lower than the national average of 100. Housing costs are particularly affordable, with an average home price of $200K and monthly rent for a two-bedroom apartment being around $1,000. Groceries, health care, transportation and utilities also tend to be cheaper here than other areas. All in all, 55330 Elk River offers an excellent quality of life at a very reasonable price.