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Elko New Market, MN
Full City Profile · Minnesota · Scott County County
3.8
/5.0
B+
Good
4,915
Population
1,304/sq mi density
$147,381
Median Income
$52,646 per capita
$407,400
Home Value
$463,847 Zillow
$2,311
Median Rent
23.1% income on rent
46°F
Avg Temperature
270 sunny days/yr
21
Violent Crime/100K
439 property/100K
B+
Overall
3.8 / 5.0
Good overall score based on economy, affordability, safety and education
A+
Economy
5.0 / 5.0
$147,381 median income, 0.5% unemployment
A+
Affordability
5.0 / 5.0
$407,400 home value, $2,311/mo rent
F
Safety
1.0 / 5.0
21 violent crimes/100K
A
Education
4.2 / 5.0
40.4% bachelor's degree or higher
Housing Overview
Median Home Value
$407,400
45% above
US avg: $281,900
Median Rent
$2,311/mo
99% above
US avg: $1,163/mo
Homeownership Rate
94.2%
44% above US avg (65.4%)
Total Housing Units
1,632
Median year built: 2004
Home Value by Source
Census Median
$407,400
Zillow (ZHVI)
$463,847
Median Sale Price
$400,250
Median List Price
$490,000
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
94.2%
Owner-Occupied
5.8%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$809/mo
1 Bedroom
$899/mo
2 Bedroom
$1,125/mo
3 Bedroom
$1,483/mo
4 Bedroom
$1,698/mo
Census median rent:
$2,311/mo
Market Indicators (Redfin)
Median Days on Market
32 days
Sale-to-List Ratio
1.0%
Buyers market
Homes Sold
8
Price Drops
40.0%
of listings with price reduction
Price Per Sq Ft
$162
Active Inventory
35
homes for sale
Affordability & Housing Stock
Rent Burden
23.1%
of renters spending 30%+ of income on housing
25% below US avg (31.0%)
Median Year Built
2004
Average age of housing stock: 22 years
Homeownership Rate
94.2%
Complete Housing Data
Home Values
| Census Median Value | $407,400 |
| Zillow Home Value (ZHVI) | $463,847 |
| Median Sale Price | $400,250 |
| Median List Price | $490,000 |
| Price Per Sq Ft | $162 |
Rent
| Census Median Rent | $2,311 |
| FMR Studio | $809 |
| FMR 1-Bedroom | $899 |
| FMR 2-Bedroom | $1,125 |
| FMR 3-Bedroom | $1,483 |
| FMR 4-Bedroom | $1,698 |
Market
| Days on Market | 32 |
| Sale-to-List Ratio | 1.0% |
| Price Drops | 40.0% |
| Homes Sold | 8 |
| Active Inventory | 35 |
| Price Per Sq Ft | $162 |
Ownership & Stock
| Owner-Occupied | 94.2% |
| Renter-Occupied | 5.8% |
| Homeownership Rate | 94.2% |
| Total Housing Units | 1,632 |
| Median Year Built | 2004 |
| Rent Burden | 23.1% |