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These days, finding an affordable place to live in the Elko New Market area can be challenging. Home prices in Elko New Market are now at a median cost of $437,108, higher than the Minnesota average of $345,793.
The average cost of rent is $2,196/mo in Elko New Market, primarily driven by the current value of real estate in the Elko New Market area. In Elko New Market, 3.61% of households rent, and 16.26% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Elko New Market is $11,960 per month. Households that rent pay about 18.36% of their income on rent here. Elko New Market’s most expensive areas are in the southwestern regions, while the cheapest areas are in the northwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- New Market, MN: equally priced homes
- Elko, MN: higher priced homes
- Webster, MN: higher priced homes
- Little Chicago, MN: equally priced homes
- Veseli, MN: equally priced homes
- Lonsdale, MN: less expensive homes
- Lakeville, MN: higher priced homes
- Castle Rock, MN: equally priced homes
- Millersburg, MN: higher priced homes
- Lydia, MN: higher priced homes
Cities with Similar Populations
- Walton, NY: less expensive homes
- Troy, VA: equally priced homes
- Troy, TX: less expensive homes
- Trenton, SC: less expensive homes
- Wake Village, TX: less expensive homes
- Treasure Lake, PA: less expensive homes
- West York, PA: less expensive homes
- Waldron, AR: less expensive homes
- Walnut Ridge, AR: less expensive homes
- Tontitown, AR: equally priced homes
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