What is the cost of living in Elk River, MN?
According to the most recent data on the cost of living, Elk River has an overall cost of living index of 106, which is 1.1x higher than the national index of 100.
Compared to Minnesota, Elk River has a cost of living index that's 1.0x higher than Minnesota's index of 101.
The standard of living in Elk River ranks as #74 most affordable out of the 151 places we measured in Minnesota. By definition, that implies Elk River ranks as the #77 most expensive place in the North Star State.
For more reading on life in Elk River, check out:
Elk River Cost Of Living Vs. Minnesota
Six factors go into calculating the cost of living index in Elk River. Here is how it fares on each of the criteria:
The Services index in Elk River is 99.
The Groceries index in Elk River is 102.
The Health index in Elk River is 127.
The Housing index in Elk River is 99.
The Transportation index in Elk River is 104.
The Utilities index in Elk River is 101.
| Living Expense | Elk River | Minnesota | National Average |
|---|---|---|---|
| Overall | 106 | 101 | 100 |
| Services | 99 | 101 | 100 |
| Groceries | 102 | 99 | 100 |
| Health | 127 | 99 | 100 |
| Housing | 99 | 101 | 100 |
| Transportation | 104 | 103 | 100 |
| Utilities | 101 | 101 | 100 |
Elk River Cost Of Living Compared To Minnesota Averages
Index where 100 = national average. Source: cost-of-living index 2026.
For more reading on cost of living around Minnesota, check out:
Protect your home budget Compare home warranties in Elk River Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Elk River, MN Housing Cost Breakdown
Housing swings affordability the most between places in Minnesota, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2020-2024. The key points are:
The Median Home Value in Elk River is $391,288.
The Median Rent in Elk River is $1,283.
The Median Income in Elk River is $108,741.
The Home Value To Income in Elk River is 3.6x.
The Rent To Monthly Income in Elk River is 0.14x.
Elk River, MN Costs By Category
Detailed Elk River Services costs vs. Minnesota
Detailed Elk River Groceries costs vs. Minnesota
Detailed Elk River Health costs vs. Minnesota
Detailed Elk River Transportation costs vs. Minnesota
Elk River SnackAbility
Cost Of Living In Cities Around Elk River
The cost of living varies in the cities and towns around Elk River. Here's a quick look at the cost of living in the most populous nearby places:
Maple Grove, MN has a cost of living index of 117, 1.1x Elk River.
Andover, MN has a cost of living index of 122, 1.2x Elk River.
Ramsey, MN has a cost of living index of 116, 1.1x Elk River.
| City | Population | Cost Of Living | Vs. Elk River |
|---|---|---|---|
| Maple Grove, MN | 71,173 | 117 | 1.1x |
| Andover, MN | 33,035 | 122 | 1.2x |
| Ramsey, MN | 28,421 | 116 | 1.1x |
| Champlin, MN | 23,294 | 111 | 1.0x |
| Otsego, MN | 22,245 | 116 | 1.1x |
| St. Michael, MN | 20,010 | 112 | 1.1x |
| Ham Lake, MN | 16,702 | 117 | 1.1x |
| Rogers, MN | 13,685 | 124 | 1.2x |
| Oak Grove, MN | 9,130 | 120 | 1.1x |
| Dayton, MN | 9,095 | 123 | 1.2x |
