Elko New Market, MN population, income and ZIP codes

Elko New Market city is a small town in Minnesota, with 4,915 residents counted in the Census American Community Survey 2019-2023 ACS 5-year estimates, which places it #154 of 914 ranked by population — larger than 83% of them. The median age here is 33.9 years against 39.1 nationally, a slightly younger profile than the country as a whole. At this population the ACS sample is small, so the margin of error around every dollar figure below is wide — treat the numbers as a band, not a point, and expect them to move between annual releases without the place itself changing.

Households in Elko New Market city earn a median of $147,381 a year, 87.7% above the national figure of $78,538 and 95% above the $75,469 median for the 361 Minnesota cities we cover. This figure covers the household, not the worker: two people on ordinary wages at one address outrank a single professional in the same table. Poverty reaches 0% of residents here, less than half the 12.4% national rate.

The typical owner-occupied home in Elko New Market city is valued at $407,400, 34.3% above the national figure and 69% above the $240,400 peer median, while median gross rent runs $2,311 a month, 64.4% above the national figure, or roughly $27,732 across a full year. A household on the local median income would put about 18.8% of gross pay toward that rent against the federal 30% cost-burden threshold, so renting here is cheap relative to what people here earn. The home-price-to-income ratio works out to 2.8×, against roughly 3.9× nationally, so buying is easier here than in the average US market. 94.2% of occupied homes are owner-occupied versus 65% nationally, an owner-dominated market where rental listings are scarce and rent medians rest on a thin sample. Rent is reported gross — contract rent plus tenant-paid utilities — which is why it runs above the advertised price on a listing for the same unit.

Every value on this page is published directly by the Census for this area — nothing is modelled or interpolated. Small-area estimates still carry wider margins of error than state or national figures, so check the linked ACS tables before relying on them for lending, appraisal or legal work.