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Minnesota · Census place 18662

Elko New Market city, MN

Quick answer

Elko New Market city has 4,915 residents, ranking #154 of 914 places in Minnesota. Median household income is $147,381, the median home is worth $407,400 and median gross rent runs $2,311 a month.

Population
4,915Elko New Market city residents
Median household income
$147,381Past 12 months, inflation adjusted
Median home value
$407,400Owner-occupied units
Median gross rent
$2,311Rent plus utilities, monthly
Median age
33.9 yrsAll residents
Homeownership rate
94.2%Owner-occupied households

What the numbers mean in Elko New Market city

Housing cost measured against local earnings.

A household earning the Elko New Market city median would spend about 18.8% of gross income on the median rent. The 30% mark is the federal threshold for cost burden, so anything above it signals a stretched rental market. The median home costs 2.8× the median household income; nationally that ratio sits near 4.5×. Poverty affects 0% of residents and 94.2% of households own their home.

Source: US Census Bureau, ACS 2019-2023 5-year estimates · rates as published for 2019-2023 ACS 5-year

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