Minnesota, known as the "Land of 10,000 Lakes", boasts breathtaking landscapes and a thriving arts and cultural community that enchants you. Immerse yourself in Minnesota's roots and history through the City Museum and the Science Museum of Minnesota, or invest in your education through the University of Minnesota, St. Cloud State University, and Minnesota State University, Mankato. In addition, residents can enjoy a vibrant arts and cultural scene in the Twin Cities of Minneapolis and St. Paul, including the famous Walker Art Center and the Minnesota Orchestra, providing a wealth of entertainment options.

Sports enthusiasts can enjoy cheering on professional teams such as the Minnesota Vikings (NFL), Minnesota Twins (MLB), and Minnesota Timberwolves (NBA), providing ample opportunities for excitement. Explore famous attractions like the Mall of America, the James J. Hill House, and the historic town of Duluth, each providing a unique glimpse into Minnesota's history and culture. In addition, the state offers many outdoor recreation opportunities, from boating and fishing in its 10,000 lakes to skiing in the Minnesota River Valley.

Minnesota offers a unique blend of natural beauty, quality of life, and affordability, making it a great place to call home.

Rental Market Trends

Elk River, MN

As of July 2025, Elk River's rental market is stable, offering a predictable rental market where most units lease within a few weeks. Elk River's average rent is 2.3% ($34) higher than the Minnesota average of $1,479 and 14.8% ($262) lower than the U.S. average of $1,775.

Average Rent

$1,513

Monthly ChangeMonth Over Month Change

0.9% ($13)

Yearly ChangeYear Over Year Change

4.1% ($65)

Avg. Days on MarketAverage Days on Market

Unit Type	Average Rent	Monthly ChangeMonth Over Month Change	Yearly ChangeYear Over Year Change
1 Bed	$1,329	0.3% ($4)	1.8% ($24)
2 Beds	$1,599	0.6% ($9)	0.3% ($5)
3 Beds	$1,806	1.5% ($26)	3% ($56)

Nearby Cities	Average Rent	Avg. Rent vs. Elk RiverAverage Rent vs. Elk River	Avg. Days on MarketAverage Days on Market
Albertville	$1,790	18.3% ($277)	43 days
Big Lake	$1,492	1.4% ($21)	40 days
Zimmerman	$1,466	3.1% ($47)	46 days
Saint Michael	$1,729	14.3% ($216)	47 days
Anoka	$1,477	2.4% ($36)	27 days

Rental market trends are calculated using listing data from RentalSource.

Frequently Asked Questions

Elk River Rental Market FAQs

Explore rental prices, market trends, and availability in Elk River, MN.

What is the average rent in Elk River, MN?

The average rent in Elk River, MN is $1,513 per month.

What is the rental price range for apartments in Elk River, MN?

Apartments in Elk River typically rent for between $930 and $2,348 per month, with an average of $1,513 per month.

What is the average rent for different bedroom sizes in Elk River, MN?

In Elk River, the average rent for a 1-bedroom apartment is $1,329 per month, for a 2-bedroom apartment, $1,599 per month, and a 3-bedroom apartment is $1,806 per month.

How do rent prices in Elk River, MN compare with the national average?

The average rent in Elk River is 14.8% ($262) lower than the national average of $1,775 per month.

How have rent prices in Elk River, MN changed recently?

The average rent in Elk River has increased by 0.9% ($13) in the last month and decreased by 4.1% ($65) over the past year.

How competitive is the rental market in Elk River, MN?

The rental market in Elk River, MN, is currently stable, offering a predictable rental market where most units lease within a few weeks.

How long do rentals stay on the market in Elk River, MN?

In Elk River, MN, the average rental stays on the market for approximately 46 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.

How many rental properties are available in Elk River, MN?

There are currently 7 rental properties available in Elk River, MN.

Can I afford to rent an apartment in Elk River, MN?

Based on the current averages, a household would need an annual income of $63,960 to comfortably afford a 2-bedroom apartment in Elk River.