Elko New Market, Minnesota

Population

Growing. Up 9.9% since 2020.

5,300

people, the 149th-largest of Minnesota's cities and towns.

Census Population Estimates, 2025. Rank among Minnesota's cities and towns computed by the Almanac. Sources: Census Population Estimates

The workday

8 in 10 jobs here go to people who live somewhere else.

76.0%

of 392 jobs located in Elko New Market are filled by in-commuters.

Census LEHD LODES, 2023. Sources: Census LEHD LODES

Rent

Median rent is up 101% since the 2005–2009 survey, before inflation.

$2,200

a month. Minnesota's median is $1,280.

Census ACS 5-year, 2020-2024 (latest), with earlier 5-year windows. Sources: Census ACS 5-year

The seam

Cross one tract line and median rent doubles.

A $1,956 gap between neighbors, the sharpest rent edge between adjacent tracts in Scott County.

• $1,322 Tract 803.03
• $3,278 Tract 802.01

Census ACS 5-year, 2020-2024, adjacent tracts compared by the Almanac. Tract estimates carry wide margins of error. Sources: Census ACS 5-year

Room to build

The median rent is above what local wages can carry.

$607–$911

is the monthly rent range local workforce wages support.

• $2,200 median

Supportable rent computed by the Almanac from 2023 source wage data. Median rent: Census ACS 5-year, 2020-2024. Sources: Computed by the Almanac, Census ACS 5-year

Building

20% of the housing here was built before 2000.

• 349 homes permitted in ten years, 2016–2025
• 17% of those were in multifamily buildings
• 20% of all homes were built before 2000

Census Building Permits Survey, 2016–2025; Census ACS 5-year, 2020-2024. Sources: Census Building Permits Survey, Census ACS 5-year

Units needed

Closing the gap would add 0.1–0.2% to the 1,689 homes here.

1–4

is the estimated number of missing housing units, from the lowest to the highest of three estimates.

Range computed by the Almanac from 2023 jobs and household data, using three demand models: 1% of jobs located here, 1% of renter households, and a rate by town size applied to renters. The low end is the lowest of the three and the high end the highest. It is an estimate, not a count. Sources: Computed by the Almanac

Home value

A median home costs 32% more than Minnesota's.

$433,100

median home value in Elko New Market.

• $433,100 Elko New Market
• $329,300 Minnesota
• $332,700 U.S.

Census ACS 5-year, 2020-2024. Sources: Census ACS 5-year