Elk River, MN
Population 26,367 · Minnesota
About Elk River, MN
Elk River is a mid-sized city in Minnesota with a population of 26,367 residents. The median household income is $99,457 per year, which is above the national average. The median age in Elk River is 37.3 years.
Housing in Elk River has a median home value of $338,300 and median monthly rent of $1,269. Of the 10,114 total housing units, the majority are owner-occupied, with 7,710 owner-occupied and 1,923 renter-occupied units.
The unemployment rate in Elk River is 2.7% and the poverty rate is 3.2%. 30.8% of residents hold a bachelor's degree or higher. The average commute time is 28.3 minutes.
How Elk River Ranks in Minnesota
Cost of Living in Elk River, MN
Compared to national averages, Elk River has a median household income of $99,457 (32% above the national median of $75,149). Home values average $338,300, which is 38% above the national median. Monthly rent at $1,269 is 9% above the US average of $1,163. Within Minnesota, Elk River's income is 34% above the state average of $74,221, and home values are 65% above the state median of $204,472.
Why Live in Elk River, MN?
Elk River offers a strong local economy with a median household income of $99,457, well above the national average, and a strong job market with an unemployment rate of just 2.7%, and a low poverty rate of 3.2%, better than the national average.
Elk River has a population of 26,367 with a median age of 37.3 years. Compare Elk River with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Elk River
Cities in Minnesota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Owatonna | 26,462 | $81,276 | $234,600 | Compare |
| Rosemount | 26,509 | $127,247 | $406,100 | Compare |
| Austin | 26,167 | $66,488 | $155,100 | Compare |
| Shoreview | 26,724 | $109,399 | $365,100 | Compare |
| Chanhassen | 26,001 | $138,034 | $530,700 | Compare |
| Winona | 25,998 | $56,163 | $193,500 | Compare |
| Prior Lake | 27,832 | $130,278 | $429,900 | Compare |
| Ramsey | 28,070 | $112,060 | $345,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Elk River
What is the population of Elk River, MN?
The population of Elk River, MN is 26,367 according to the latest Census data.
What is the median household income in Elk River?
The median household income in Elk River, MN is $99,457 per year.
What is the median home value in Elk River?
The median home value in Elk River, MN is $338,300.
What is the average rent in Elk River?
The median monthly rent in Elk River, MN is $1,269.
What is the unemployment rate in Elk River?
The unemployment rate in Elk River, MN is 2.7%.