Elk River, Minnesota Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Elk River, Minnesota rental market.
Elk River, Minnesota
Average Apartment Rent
$1,553
Y-o-Y Change in Average
Apartment Rent
1%
As of March 2026
Compared to a year ago, Elk River, Minnesota apartments have recorded a 1% rent increase.
Elk River, Minnesota Average apartment rent trend
Elk River, Minnesota Average Apartment Rent
Elk River, Minnesota Apartment rent ranges
At 49.64%, apartments priced $1,500 - $2,000 represent the bulk of Elk River, Minnesota rentals, while condos priced $2,000 - $2,500 hold the lowest share of the market – 5.4%.
Elk River, Minnesota Housing tenure**
Renters take up 21% of Elk River, Minnesota real estate, occupying a total of 2,029 units, while homeowners live in 7,420 properties.
Median number of rooms of renter-occupied housing units**
4
Renter median household income**
$50,601
Average household size of renter-occupied housing units**
1.92
Rental vacancy rate**
1.8%
Elk River, Minnesota Renter-occupied housing units by no. of bedrooms**
There are 794 rentals in Elk River, Minnesota with 2 beds making up the highest share of the market, at 39%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 20 units. Overall, the median number of rooms in Elk River, Minnesota homes for rent is 4.
Elk River, Minnesota Renter-occupied units by age of householder**
Most condos for rent in Elk River, Minnesota are occupied by residents in the 25 - 34 years age group (25%), followed by those in the 35 - 44 years age group (22%). At the same time, people in the 55 - 59 years age group make up the lowest share of the local rental market – 2%.
Elk River, Minnesota Renter-occupied housing units by family type**
Elk River, Minnesota Renter-occupied housing units by the presence of own children**
A total of 839 apartments for rent in Elk River, Minnesota, or 41% of all rentals are family households. Additionally, 26% of rental homes include children under the age of 18 – that’s 523 units. All in all, the median size of a renter-occupied household in Elk River, Minnesota is 1.92.
Elk River, Minnesota Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 11% of the rental market. In contrast, residents with less than a high school degree reside in 6% of the homes for rent in Elk River, Minnesota.
Elk River, Minnesota Renter-occupied units by year structure built**
The highest share of Elk River, Minnesota apartment rentals, namely 30% or 605 units, were Built 1970 - 1979, followed by those Built 1980 - 1989 (19%, 392 units), and the ones Built 2000 - 2009 (14%, 290 units).
Elk River, Minnesota Renter-occupied units by year householder moved in**
Median year renter moved into unit 2016
Most Elk River, Minnesota renters (57%) moved in 2010 to 2017, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Elk River, Minnesota condos for rent is 2016.
Elk River, Minnesota Renter-occupied housing units by vehicles available**
When it comes to transportation options, 49% of Elk River, Minnesota renters have 1 vehicle available per household, 33% of them have 2 vehicles available, and 14% have No vehicle available.
Elk River, Minnesota Means of transportation to work of householders living in renter-occupied housing units**
Elk River, Minnesota Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Elk River, Minnesota apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
