Elk Point renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in Elk Point is about $674 per month. This puts it in the 47th percentile compared to the state average cost of rent, which is $846. Households in Elk Point have a median income of $5,918 per month so the average renter in Elk Point is spending roughly 11% of their earnings on housing.
Nationally, and in Elk Point, home values are the data point most closely correlated with the cost of rent. The median price of a home in Elk Point is $178,325 right now, which is lower than nearby cities, meaning that rents in Elk Point also tend to be lower versus these nearby cities.
Higher rent prices are common in the northwestern parts of Elk Point while lower rent rates are often available in western areas.
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