Cost of Living in Elk River, MN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
140.4
100 = national avg
+40.4 vs national average
Living Wage (1 Adult)
$61,798
per year
Living Wage (Family of 4)
$146,068
per year
Cost Index by Category
Housing157.1
Food126.0
Transportation126.5
Healthcare120.8
Utilities127.0
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,405
per month
2 Bedroom
$1,709
per month
The overall cost of living index in Elk River is 140.4, which is 40.4% above the national average. Housing costs are above the national average at an index of 157.1. A single adult needs to earn approximately $61,798 per year to cover basic expenses.