The Most and Least Expensive Areas to Rent in Elko New Market, MN

Elko New Market 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.

 

Elko New Market, MN of rent costs by neighborhood
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Rental Price Key

High-end
Mid-tier
Most affordable

On average, the cost of rent in Elko New Market is about $1,405 per month. This puts it in the 94th percentile compared to the state average cost of rent, which is $1,169. Households in Elko New Market have a median income of $11,081 per month so the average renter in Elko New Market is spending roughly 13% of their earnings on housing.

Nationally, and in Elko New Market, home values are the data point most closely correlated with the cost of rent. The median price of a home in Elko New Market is $351,539 right now, which is lower than nearby cities, meaning that rents in Elko New Market also tend to be lower versus these nearby cities.

Higher rent prices are common in the central parts of Elko New Market while lower rent rates are often available in southwestern areas.

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