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Featured local agent — Elk River, MN
Sarah Mitchell
Compass Real Estate · Elk River, MN
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Elk River, MN Housing Market & Real Estate
Housing market overview · Updated monthly ·
$372,250median sale price
How is the Elk River, MN housing market right now?
The median home sale price in Elk River, MN is $372,250, up 4.9% year-over-year. Homes sell in an average of 29 days with 68 active listings. The market is currently a strong seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Elk River a buyer's or seller's market?
Elk River, MN is currently a strong seller's market, based on 1.5 months of supply and homes selling in about 29 days. How we determine this →
Homes sold
44
Last 12 weeks
Days on market
29
Average pace
Active listings
68
1.5 months supply
Sale-to-list
100.9%
Above asking
What does the Elk River housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $372,250 |
| Median list price | $412,500 |
| Year-over-year price change | +4.9% |
| Average days on market | 29 days |
| Active inventory | 68 listings |
| Months of supply | 1.5 months |
| Sale-to-list price ratio | 100.9% |
| Median price per sq ft | $195/sq ft |
| Homes sold (latest month) | 44 |
| New listings (latest month) | 50 |
| Listings with a price cut | 33.8% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Elk River by property type?
How the Elk River, MN market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $400,000 | $197/sq ft | 29 | 27 days |
| Townhouse | $258,500 | $174/sq ft | 15 | 52 days |
Source: Redfin · Updated monthly
The Elk River housing market is currently classified as a strong seller's market with a median sale price of $372,250. Prices have risen 4.9% compared to last year, with homes spending an average of 29 days on market, indicating 1.5 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 4.0x provides context for how home values compare to local earning capacity.
Homes for sale in Elk River
There are currently 68 homes listed for sale in Elk River, Minnesota. The median listing price is $413K.
Active listings
68
Homes on market
Median list price
$413K
Avg. days on market
29
Days until sale
New this week
50
Newly listed
Who lives in Elk River?
Population
26,367
Median income
$99,457/yr
Median age
37.3 years
Owner-occupied
80.0%
College grads
30.8%
Avg commute
28.3 min
Source: U.S. Census Bureau ACS
What are homes worth in Elk River?
Zillow home value
$401,290
Zillow rent index
$2,129/mo
Price-to-rent ratio
15.7x
Price-to-income
4.0x
Source: Zillow Research
What is it like to live in Elk River?
Elk River is a community of approximately 26K residents with a median age of 37.3 years.The median household income is $99,457, which reflects a relatively affluent area with strong earning potential. 30.8% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 80.0%, reflecting strong community stability and long-term resident commitment. The average commute time is 28.3 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Elk River offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Elk River?
26 schools tracked · 6,787 students
The largest public schools serving Elk River, MN by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
ELK RIVER SENIOR HIGH
Grades 9-12 · 1,602 students
TWIN LAKES ELEMENTARY
Grades K-5 · 716 students
SALK MIDDLE SCHOOL
Grades 6-8 · 677 students
MEADOWVALE ELEMENTARY
Grades K-5 · 548 students
LINCOLN ELEMENTARY
Grades K-5 · 548 students
PARKER ELEMENTARY
Grades K-5 · 526 students
VANDENBERGE MIDDLE SCHOOL
Grades 6-8 · 521 students
SPECTRUM HIGH SCHOOL
Grades 9-12 · 484 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Elk River, MN?
Want a head-to-head view? Compare Elk River side-by-side with any other U.S. city using our market-comparison tool.
Is Elk River a good real estate investment market?
For investors evaluating Elk River, the price-to-rent ratio of 15.7x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has appreciated 4.9% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Elk River's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Elk River's median home price.
Frequently asked questions
What is the average home price in Elk River?
The median home sale price in Elk River is $372,250, up 4.9% from last year.
How long do homes stay on market in Elk River?
Homes typically spend 29 days on market before going under contract.
What is the median income in Elk River?
The median household income is $99,457 per year.
Is Elk River a buyer's or seller's market?
With 1.5 months of supply, Elk River is currently a strong seller's market.
What is the Zillow home value estimate for Elk River?
The Zillow Home Value Index (ZHVI) for Elk River is $401,290, representing the typical home value in the area.
How much does a single-family home cost in Elk River?
The median single-family home price in Elk River, MN is $400,000 (about $197 per square foot).
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