Average Rent in Elk River, MN and Rent Price Trends

Rent trends in Elk River, MN

Average rent prices in Elk River have increased by 2% over the last month and have decreased by 2% since last year.

Rent trends

Rent prices on this page are calculated on a rolling 30-day basis and updated daily.

Compare rent prices in
Elk River, MN

Rent prices in Elk River vary by bedroom size, rental type, and neighborhood. The average rent for an apartment in Elk River is $1,476, whereas a house costs $2,195. 1-bedroom apartments in Elk River run $1,450 on average, while 2-bedroom apartments are $1,430.


Studio	$1,380	No Change	12%
1 bedroom	$1,451	No Change	20%
2 bedroom	$1,569	3%	3%
3 bedroom	$2,222	1%	3%
4 bedroom	$3,245	2%	19%


Apartments	$1,476	1%	No Change
Condos	$1,600	No Change	-
Houses	$2,195	7%	No Change

Studio

Average rent

$1,380

Last 30 days

No Change

Last year

12%

1 bedroom

Average rent

$1,451

Last 30 days

No Change

Last year

20%

2 bedroom

Average rent

$1,569

Last 30 days

Last year

3 bedroom

Average rent

$2,222

Last 30 days

Last year

4 bedroom

Average rent

$3,245

Last 30 days

Last year

19%

The table above reflects average rent prices in Elk River, MN, broken down by the number of bedrooms, neighborhoods, and property types. The availability of data for each category is dependent on market inventory and will adjust depending on your selected filters.

How does rent in Elk River, MN compare to other cities?

Compare median rent prices in Elk River and Andover by all bedroom counts and property types.

Elk River

Median rent price$1,600

18%

lower than the national median

Median rent price$1,569

20%

lower than the national median

Takeaway

The median rent for all rentals in Elk River, MN is 2% higher than the median rent in Andover, MN.

Average rent in nearby cities

Explore rent trends in neighboring markets

$1,569

$1,362

$1,665

$1,225

$1,469

$1,680

$1,775

$1,448

$2,018

$1,718

$1,895

$1,250

Discover rentals in Elk River, MN

1d ago

8.8

Very good

Lake Orono Estates

18594 Gary St Nw, Elk River, MN 55330

2 beds

1 bath

$1,270–$1,430

Apartment for rent

Call

2d ago

8.4

Very good

365 Baldwin Ave NW

365 Baldwin Ave Nw, Elk River, MN 55330

2 beds

1 bath

$1,300

Apartment for rent

Available Apr 28

9h ago

8.3

Very good

Lionspark Apartments

1001 School St Nw, Elk River, MN 55330

2 beds

1–2 baths

$1,400–$1,550

Apartment for rent

5d+ ago

Townhouse for rent in Elk River

17190 Monroe St Nw, Elk River, MN 55330

3 beds

1.5 baths

$2,295

$2,175

Price drop

House for rent

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Frequently asked questions for Elk River, MN

Quick answers to common questions about the Elk River rental market.

How much is rent in Elk River?

The average rent in Elk River is $1,600 per month as of May 30, 2026.

Is rent up or down in Elk River?

Average rent prices in Elk River have increased by 2% over the last month and have decreased by 2% since last year.

How does Elk River rent compare to the national average?

Rent in Elk River is 18% below the national average, which means renters are paying approximately $350 less per month.

What salary do I need to afford rent in Elk River?

To comfortably afford rent in Elk River, you'd need to earn approximately $64,000/year, based on spending no more than 30% of your income on rent.

When is the best time of year to rent in Elk River?

The average rent for a 1-bedroom apartment in Elk River, MN is $1,374, while a 2-bedroom apartment averages $1,572.

Methodology

Rent prices are based on Zumper's rental listings from the past 30 days. Median rent is calculated across all available listings and property types on the platform. If you filter the page by bedroom count or property type, the pricing throughout the page will update automatically to reflect that segment of the rental market.

Household and population data come from the U.S. Census Bureau. Cost-of-living data is sourced from the Council for Community and Economic Research's Cost of Living Index (COLI).