What is the cost of living in Elko New Market, MN?
According to the most recent data on the cost of living, Elko New Market has an overall cost of living index of 117, which is 1.2x higher than the national index of 100.
Compared to Minnesota, Elko New Market has a cost of living index that's 1.2x higher than Minnesota's index of 101.
The standard of living in Elko New Market ranks as #123 most affordable out of the 151 places we measured in Minnesota. By definition, that implies Elko New Market ranks as the #28 most expensive place in the North Star State.
For more reading on life in Elko New Market, check out:
Elko New Market Cost Of Living Vs. Minnesota
Six factors go into calculating the cost of living index in Elko New Market. Here is how it fares on each of the criteria:
The Services index in Elko New Market is 102.
The Groceries index in Elko New Market is 100.
The Health index in Elko New Market is 154.
The Housing index in Elko New Market is 100.
The Transportation index in Elko New Market is 100.
The Utilities index in Elko New Market is 93.
| Living Expense | Elko New Market | Minnesota | National Average |
|---|---|---|---|
| Overall | 117 | 101 | 100 |
| Services | 102 | 101 | 100 |
| Groceries | 100 | 99 | 100 |
| Health | 154 | 99 | 100 |
| Housing | 100 | 101 | 100 |
| Transportation | 100 | 103 | 100 |
| Utilities | 93 | 101 | 100 |
Elko New Market 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 Elko New Market Get matched →Source: Cost-of-living index 2026, normalized to US average = 100
Elko New Market, 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 Elko New Market is $472,661.
The Median Rent in Elko New Market is $2,200.
The Median Income in Elko New Market is $152,150.
The Home Value To Income in Elko New Market is 3.1x.
The Rent To Monthly Income in Elko New Market is 0.17x.
| Statistic | Elko New Market | Minnesota | United States |
|---|---|---|---|
| Median Home Value | $472,661 | $346,667 | $332,700 |
| Median Rent | $2,200 | $1,280 | $1,413 |
| Median Income | $152,150 | $89,062 | $80,734 |
| Home Value To Income | 3.1x | 3.9x | 4.1x |
| Rent To Monthly Income | 0.17x | 0.17x | 0.21x |
Elko New Market, MN Costs By Category
Detailed Elko New Market Services costs vs. Minnesota
| Item | Elko New Market | Minnesota |
|---|---|---|
| Shampoo | $None | $1.28 |
| Movie | $None | $12.13 |
| Bowling | $None | $18 |
| Haircut | $None | $24.26 |
| Beauty Salon | $None | $45.56 |
Detailed Elko New Market Groceries costs vs. Minnesota
| Item | Elko New Market | Minnesota |
|---|---|---|
| Ground Beef | $None | $5.84 |
| Fried Chicken | $None | $1.57 |
| Milk | $None | $4.67 |
| Potatoes | $None | $4.93 |
| Pizza | $None | $12.09 |
| Beer | $None | $10.41 |
| Toothpaste | $None | $3.7 |
Detailed Elko New Market Health costs vs. Minnesota
| Item | Elko New Market | Minnesota |
|---|---|---|
| Optometrist | $None | $125.68 |
| Doctor | $None | $135.78 |
| Dentist | $None | $113.29 |
Detailed Elko New Market Transportation costs vs. Minnesota
| Item | Elko New Market | Minnesota |
|---|---|---|
| Gasoline | $None | $3.46 |
| Tire Balancing | $None | $59.92 |
Detailed Elko New Market Utilities costs vs. Minnesota
| Item | Elko New Market | Minnesota |
|---|---|---|
| All Electricity | $None | $193.99 |
| Phone | $None | $192.25 |
Elko New Market SnackAbility
Cost Of Living In Cities Around Elko New Market
The cost of living varies in the cities and towns around Elko New Market. Here's a quick look at the cost of living in the most populous nearby places:
Bloomington, MN has a cost of living index of 112, 1.0x Elko New Market.
Lakeville, MN has a cost of living index of 122, 1.0x Elko New Market.
Eagan, MN has a cost of living index of 117, 1.0x Elko New Market.
| City | Population | Cost Of Living | Vs. Elko New Market |
|---|---|---|---|
| Bloomington, MN | 88,665 | 112 | 1.0x |
| Lakeville, MN | 74,354 | 122 | 1.0x |
| Eagan, MN | 68,000 | 117 | 1.0x |
| Burnsville, MN | 64,463 | 114 | 1.0x |
| Apple Valley, MN | 55,679 | 114 | 1.0x |
| Savage, MN | 32,889 | 121 | 1.0x |
| Prior Lake, MN | 28,016 | 120 | 1.0x |
| Rosemount, MN | 27,562 | 117 | 1.0x |
| Farmington, MN | 23,902 | 112 | 1.0x |
| Northfield, MN | 20,742 | 103 | 0.9x |
