The median home in Elk River, Minnesota is valued at $382,307, up 2.2% year over year. Typical monthly rent is $1,848, producing a price-to-rent ratio of 17.2x — near the national average of 18x. Elk River is part of the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan area, which CrashWatch tracks daily with real-time stress scores and crash risk analysis.

Home Value$382,307

+2.2%

Rent$1,848/mo

Prices rising — worse for buyers.

Affordability

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Income (annual)

Down Payment

$76,461 on $382,307

Example: $75,000 household income. Change it above to see your own.

Out of reach39% of income

Need $104,571/yr to afford.

PITI$2,440

P/I39%

Afford$274K

Gap-$108K

P&I $1,933Tax $357Ins $150

Renting $592/mo cheaper ($1,848 rent)6.50% 30yr, 20% down, county tax + MN ins. 28% per HUD.

Home Buying Kit For Dummies (2025)Financing, negotiation, closing

Other cities in Minnesota

Compare Elk River with other housing markets across Minnesota.

Minnetonka Beach$2.22M Woodland$1.62M Greenwood$1.6M Sunfish Lake$1.16M Orono$1.08M Medicine Lake$1.08M Tonka Bay$1.06M Deephaven$1.02M

Full Minneapolis-St. Paul-Bloomington, MN-WI analysis

Stress scores, crash risk, early warning signals, and 12-month price forecasts for the Minneapolis-St. Paul-Bloomington, MN-WI metro.

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Elk River, MN