Rentometer, Inc. | Data as of 10/23/2025
Elk River’s rental market offers a diverse mix of apartments and single‑family homes that appeal to young professionals, families, and retirees alike. Studios and one‑bedroom apartments are typically found in the low‑$1000s to $1300 range, making them attractive options for those seeking convenient living close to the vibrant downtown area, the historic Elk River Theatre, and the scenic riverfront parks. Larger apartment layouts—two‑ and three‑bedroom units—generally move into the $1500‑$1800 range, providing ample space for growing households while still enjoying easy access to the popular Elk River Marina, local boutiques, and a variety of dining venues.
For renters preferring a house, the city’s neighborhoods such as Whispering Pines, Rivergate, and the newer developments near the Minnesota River offer spacious four‑plus bedroom homes that command rents in the $2700 bracket, while two‑ and three‑bedroom houses typically sit in the $1800‑$2400 range. These homes often feature larger yards, modern finishes, and proximity to top‑rated schools and outdoor recreation trails, making Elk River a sought‑after destination for families looking for both comfort and community. With a balanced blend of affordable apartments and upscale homes, Elk River rentals provide flexible choices that suit a wide range of lifestyles and budgets.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | Studio | $1,050 | $1,030 | $895 - $1,245 | $925 - $1,245 |
| Apartment | 1 Bedroom | $1,375 | $1,338 | $853 - $1,935 | $1,175 - $1,685 |
| Apartment | 2 Bedroom | $1,491 | $1,495 | $1,000 - $2,015 | $1,295 - $1,759 |
| Apartment | 3 Bedroom | $1,764 | $1,795 | $1,395 - $2,275 | $1,448 - $1,867 |
| House | 2 Bedroom | $1,815 | $1,800 | $1,650 - $1,995 | $1,650 - $1,995 |
| House | 3 Bedroom | $2,273 | $2,249 | $1,799 - $2,800 | $1,995 - $2,549 |
| House | 4+ Bedroom | $2,722 | $2,700 | $1,995 - $3,750 | $2,415 - $2,995 |
In the current period, the average rent in Elk River was $1,050 for Studio, $1,375 for 1 Bedroom, $1,525 for 2 Bedroom, $2,000 for 3 Bedroom, and $2,616 for 4+ Bedroom.
Data provided by Rentometer, Inc.