Elk River, MN Rental Market Trends
Highlights
The average rent for an apartment in Elk River is $1,220, a 4% increase compared to the previous year, when the average rent was $1,168.
Average Rent in Elk River, MN
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $1,220 | 4% | 970 sq. ft. |
The average size for a Elk River, MN apartment is 970 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Elk River, MN Apartment Rent Ranges
- $701-$1,00037%
- $1,001-$1,50048%
- $1,501-$2,00016%
Elk River, MN Occupied Housing Units
- Renter-occupied Households23%
- Owner-occupied Households76%
1,988 or 23% of the households in Elk River, MN are renter-occupied while 6,475 or 76% are owner-occupied.
Elk River, MN Rent Trends
| Average Rent | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Nov / 2019 | Mar / 2020 | Jul / 2020 | Jan / 2021 |
|---|---|---|---|---|---|---|---|---|---|
| Elk River, MN | $1,073 | $1,103 | $1,141 | $1,129 | $1,161 | $1,168 | $1,189 | $1,247 | $1,220 |
| National | $1,381 | $1,418 | $1,428 | $1,432 | $1,468 | $1,475 | $1,477 | $1,464 | $1,462 |
How Elk River Compares to Other Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Minneapolis | $1,540 | -4% |
| St. Paul | $1,283 | -2% |
| St. Cloud | $881 | 2% |
| Edina | $1,497 | -1% |
| Bloomington | $1,440 | -1% |
| Plymouth | $1,428 | 1% |
| Coon Rapids | $1,173 | 3% |
| Brooklyn Center | $1,077 | 2% |
| Brooklyn Park | $1,138 | 2% |
| Maple Grove | $1,641 | 1% |
| Elk River | $1,220 | 4% |
For more information about the Elk River rental trends, check out our monthly rent report
Check out Minnesota Cities, Minnesota Neighborhoods and Minnesota Zip Codes for more details on verified listings, including the Minnesota Average Rent.
Curious about listings in your area? Check out our apartments near you for more details!