Rentometer, Inc. | Data as of 10/24/2025
Elko New Market, a vibrant city in Minnesota, offers a balanced rental landscape that appeals to young professionals, growing families, and retirees alike. The community is known for its well‑maintained neighborhoods, easy access to major highways, and a welcoming small‑town atmosphere that blends suburban comfort with urban convenience. Residents enjoy proximity to local parks such as Pheasant Run Park, the historic downtown district with boutique shops and cafés, and top‑rated schools that make the area especially attractive for families seeking a stable, community‑focused environment.
The rental inventory in Elko New Market features a mix of single‑family homes and modern apartments, providing a variety of housing options to suit different lifestyles. One‑bedroom apartments are generally found in the $1000s range, offering affordable, low‑maintenance living for individuals and couples. Meanwhile, two‑bedroom units typically fall within the $1700 range, delivering spacious layouts that are ideal for small families or roommates. This diversity supports a dynamic market where both convenience and comfort are readily available.
Beyond housing, the city boasts a range of amenities that enhance the rental experience. Outdoor enthusiasts can explore the scenic trails along the Cannon River, while commuters benefit from quick routes to the Twin Cities metro area. Local events, farmers’ markets, and cultural festivals foster a strong sense of community, making Elko New Market not just a place to live, but a place to call home.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | 1 Bedroom | $1,014 | $1,063 | $631 - $1,350 | $631 - $1,350 |
| Apartment | 2 Bedroom | $1,700 | $1,700 | $1,235 - $2,200 | $1,465 - $1,900 |
In the current period, the average rent in Elko New Market was
$1,015 for 1 Bedroom, and
$1,700 for 2 Bedroom.
Note: This analysis includes only bedroom types with sufficient data.
Data provided by Rentometer, Inc.