Elk River, MN housing market
The typical Elk River home is worth about $399,000, up 2% in a year, 14% above the Minnesota typical home. Homes typically sell in 29 days, a little above asking.
Home values, sales, trends and how Elk River compares with the towns next door — updated as new data is published.
Elk River at a glance
A strong seller's market
Homes are selling faster than new ones are listed: less than two months of supply. Well-priced homes can draw several offers.
Typical home value, 2016–2026
Show as a table
| January | Elk River | Minnesota |
|---|---|---|
| 2017 | $241,000 | $217,000 |
| 2018 | $257,000 | $232,000 |
| 2019 | $274,000 | $246,000 |
| 2020 | $288,000 | $259,000 |
| 2021 | $316,000 | $282,000 |
| 2022 | $359,000 | $313,000 |
| 2023 | $374,000 | $325,000 |
| 2024 | $384,000 | $331,000 |
| 2025 | $389,000 | $341,000 |
| 2026 | $398,000 | $349,000 |
| August 2026 | $399,000 | $351,000 |
Elk River and its neighbors
3.7 years of income
The typical Elk River home costs about 3.7 years of the town's median household income, about the same as across Minnesota (3.9).
How Elk River ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Listings link to their publishers.