Housing data for Elko New Market, MN
Elko New Market, MN has an estimated 5,002 residents and 1,689 homes (US Census Bureau, 2020–2024 American Community Survey).
It is a city in Scott County.
4.5% of households rent.
The median gross rent is $2,200 a month.
Its population grew measurably since 2015–2019 (+7.4%).
Figures last updated on .
- Residents
- 5,002 (±17)
- Housing units
- 1,689 (±127)
- Households that rent
- 4.5%
- Median gross rent
- $2,200
- Residents since 2015–2019
- +7.4%
What stands out in Elko New Market
Households that rent: 4.5% (±4.9 points) in Elko New Market, lower than in Scott County (16.2%).
Homes in buildings of 5 or more units: 2.0% (±2.7 points) in Elko New Market, lower than in Scott County (9.9%).
Homes built before 1980: 12.6% (±8.0 points) in Elko New Market, lower than in Scott County (23.2%).
Median household income: $152,150 (±$13,226) in Elko New Market, higher than in Scott County ($119,314).
Housing in Elko New Market at a glance
- Median rent: $2,200 median gross rent a month (Small sample: wide margin of error)
- Rent burden: 15.7% of renters pay 30% or more of income (Small sample: wide margin of error)
- Renters and owners: 4.5% of households rent (Small sample: wide margin of error)
- Income and affordability: $152,150 median household income
- Home values: $433,100 median home value
- Homeowner costs: $2,573 median monthly cost with a mortgage
- Property taxes: $4,601 median real estate taxes a year
- Types of homes: 2.0% of homes are in buildings of 5 or more units
- Bedrooms: 96.8% of homes have 3 or more bedrooms (Small sample: wide margin of error)
- Age of homes: 12.6% of homes were built before 1980 (Small sample: wide margin of error)
- Vacancy rate: 0.0% rental vacancy rate (Small sample: wide margin of error)
- Heating fuel: 80.7% heat with utility gas
- Commute and cars: 27.7 minutes average trip to work
- Crime reported to police: 0 violent crimes per 100,000 residents
- Growth: +7.4% residents since 2015–2019
- How long people stay: 20.6% moved in since 2020 (Small sample: wide margin of error)
- Crowding and facilities: 0.0% of homes have more than 1 person per room
Elko New Market against Scott County, its state and the nation
| Elko New Market | Scott County | Minnesota | United States | |
|---|---|---|---|---|
| Residents | 5,002 (±17) | 154,557 (exact) | 5,739,445 (exact) | 334,922,499 |
| Housing units | 1,689 (±127) | 56,671 (±53) | 2,545,030 (±1,535) | 143,775,355 |
| Households that rent | 4.5% (±4.9 points) | 16.2% (±1.1 points) | 27.8% (±0.2 points) | 34.8% |
| Median gross rent | $2,200 (±$863) | $1,568 (±$61) | $1,280 (±$7) | $1,413 |
| Median household income | $152,150 (±$13,226) | $119,314 (±$3,959) | $89,062 (±$409) | $80,734 |
| Median home value | $433,100 (±$15,816) | $419,400 (±$8,137) | $329,300 (±$903) | $332,700 |
| Median real estate taxes (a year) | $4,601 (±$222) | $4,230 (±$70) | $3,357 (±$10) | $3,119 |
| Built before 1980 | 12.6% (±8.0 points) | 23.2% (±1.6 points) | 52.1% (±0.3 points) | 49.7% |
| Average commute | 27.7 minutes (±3.2) | 24.8 minutes (±0.6) | 22.7 minutes (±0.1) | 26.4 minutes |
| Households with broadband | 97.2% (±2.5 points) | 95.0% (±0.6 points) | 91.6% (±0.1 points) | 91.0% |
| Median age of residents | 33.7 years (±1.7) | 37.8 years (±0.3) | 38.8 years (±0.1) | 38.9 years |
Elko New Market covers 3.8 square miles of land, about 1,326 residents per square mile (Census Bureau Gazetteer).
How Elko New Market has changed since 2015–2019
| 2015–2019 | 2020–2024 | Amount of change | Verdict | |
|---|---|---|---|---|
| Residents | 4,657 (±17) | 5,002 (±17) | +7.4% | Measurable increase |
| Housing units | 1,410 (±120) | 1,689 (±127) | +19.8% | Measurable increase |
| Median home value | $298,500 (±$18,270) | $433,100 (±$15,816) | +45.1% | Up after inflation |
| Median household income | $123,294 (±$4,928) | $152,150 (±$13,226) | +23.4% | No measurable change after inflation |
| Median owner cost with a mortgage | $2,083 (±$104) | $2,573 (±$159) | +23.5% | No measurable change after inflation |
| Median real estate taxes | $3,583 (±$171) | $4,601 (±$222) | +28.4% | No measurable change after inflation |
| Households that rent | 4.3% (±5.1 points) | 4.5% (±4.9 points) | +0.2 percentage points | Not a measurable change |
| Rental vacancy rate | 0.0% (±25.2 points) | 0.0% (±26.9 points) | 0.0 percentage points | Not a measurable change |
The Census Bureau publishes 2015–2019 dollars in 2019 dollars and 2020–2024 dollars in 2024 dollars.
Prices (the CPI-U, US Bureau of Labor Statistics) rose 22.7% between 2019 and 2024, so a dollar figure’s verdict compares the two after raising the earlier one by that much, using the Census Bureau’s test for a difference.
The two periods do not overlap, as the Census Bureau recommends for 5-year estimates.
Crime reported to police in Elko New Market
In 2025, the Elko New Market Police Department reported 0 violent and 19 property crimes per 100,000 residents to the FBI.
Across Scott County, the departments that report recorded 83 violent and 763 property crimes per 100,000 residents that year.
ZIP codes in Elko New Market
| ZIP code | Share of the ZIP’s land in this place | Residents | Median gross rent | Median home value | Median household income |
|---|---|---|---|---|---|
| 55054 | 100% | 2,831 | $2,200 | $433,100 | $157,096 |
| 55020 | 10% | 4,115 | — | $455,500 | $131,071 |
A ZIP code is a mail route rather than a boundary, so the Census Bureau publishes figures for ZIP Code Tabulation Areas built from census blocks; the share column says how much of each one’s land lies in this place.
Places near Elko New Market
| Place | Distance | Median gross rent | Median home value | Households that rent |
|---|---|---|---|---|
| New Market Township | 1.6 mi | $1,891 | $595,300 | 2.0% |
| Webster Township | 4.7 mi | — | $464,100 | 1.3% |
| Eureka Township | 5.9 mi | $1,643 | $480,400 | 6.9% |
| Greenvale Township | 6.5 mi | — | $494,900 | 12.6% |
| Cedar Lake Township | 6.6 mi | — | $543,100 | 1.2% |
| Credit River | 7.3 mi | — | $595,000 | 2.5% |
| Lonsdale | 7.6 mi | $906 | $357,000 | 7.9% |
| Wheatland Township | 8.2 mi | $683 | $387,500 | 7.7% |
Places in Minnesota most like Elko New Market
| Place | Median gross rent | Median home value | Median household income | Households that rent |
|---|---|---|---|---|
| Hanover | $1,853 | $447,900 | $156,536 | 7.0% |
| Andover | $2,037 | $410,200 | $137,593 | 5.9% |
| Lino Lakes | $1,874 | $407,200 | $127,181 | 7.9% |
| Otsego | $1,765 | $396,700 | $119,927 | 7.3% |
| Dayton | $1,651 | $511,300 | $148,947 | 7.0% |
| Lakeville | $1,806 | $452,500 | $139,041 | 12.2% |
Matched on rent, home value, income, the share who rent, the age of the homes, the share in apartment buildings and the commute, each measured against the spread across Minnesota.
HUD Fair Market Rent for Elko New Market, fiscal year 2027
| Studio | 1 bedroom | 2 bedrooms | 3 bedrooms | 4 bedrooms |
|---|---|---|---|---|
| $1,265 | $1,427 | $1,734 | $2,264 | $2,538 |
HUD income limits for Elko New Market, fiscal year 2026
| Household size | Extremely low (30%) | Very low (50%) | Low (80%) |
|---|---|---|---|
| 1 person | $27,650 | $46,050 | $73,650 |
| 2 people | $31,600 | $52,600 | $84,200 |
| 3 people | $35,550 | $59,200 | $94,700 |
| 4 people | $39,450 | $65,750 | $105,200 |
| 5 people | $42,650 | $71,050 | $113,650 |
| 6 people | $45,800 | $76,300 | $122,050 |
| 7 people | $50,040 | $81,550 | $130,450 |
| 8 people | $55,720 | $86,800 | $138,900 |
These are the limits HUD sets for its housing programs in the Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area, where HUD’s median family income for fiscal year 2026 is $131,500.
A program can use its own limits; tax-credit and local programs often do.
Survey years: 2020–2024 (American Community Survey 5-year estimates), compared with 2015–2019.
Margins of error are at the 90% confidence level.
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Questions about Elko New Market
What is the median household income in Elko New Market?
The median household income in Elko New Market is $152,150 (±$13,226) a year (2020–2024 American Community Survey).
What is the average home value in Elko New Market, MN?
The Census Bureau publishes the median: $433,100 (±$15,816) for owner-occupied homes in Elko New Market (2020–2024 American Community Survey).
What is the average mortgage payment in Elko New Market?
The Census Bureau publishes total owner costs rather than the mortgage alone: the median for owners with a mortgage in Elko New Market, MN is $2,573 (±$159) a month, including taxes, insurance and utilities.
How much are property taxes in Elko New Market?
The median real estate tax paid by homeowners in Elko New Market, MN is $4,601 (±$222) a year (2020–2024 American Community Survey).
How many homes are in Elko New Market?
Elko New Market, MN has an estimated 1,689 (±127) housing units, occupied and vacant (2020–2024 American Community Survey).
What is the most common way to heat a home in Elko New Market?
Utility gas is the most common heating fuel in Elko New Market, used by 80.7% of occupied homes (2020–2024 American Community Survey).
Is Elko New Market growing?
In Elko New Market, the number of residents went from 4,657 in 2015–2019 to 5,002 in 2020–2024 (+7.4%), a measurable increase.
What ZIP codes are in Elko New Market?
The ZIP codes that cover Elko New Market are 55054, 55020.
What is the median rent in ZIP code 55054?
The median gross rent in ZIP Code Tabulation Area 55054 is $2,200 (±$863) a month (2020–2024 American Community Survey).
Sources
- Demographic and Housing Estimates (DP05), 2020–2024 ACS 5-year estimates — Elko New Market city, Minnesota
- Selected Housing Characteristics (DP04), 2020–2024 ACS 5-year estimates — Elko New Market city, Minnesota
- Selected Economic Characteristics (DP03), 2020–2024 ACS 5-year estimates — Elko New Market city, Minnesota
- Median Real Estate Taxes Paid by Mortgage Status (B25103), 2020–2024 ACS 5-year estimates — Elko New Market city, Minnesota
- Selected Social Characteristics (DP02), 2020–2024 ACS 5-year estimates — Elko New Market city, Minnesota
- Total Population (B01003), 2015–2019 ACS 5-year estimates — Elko New Market city, Minnesota
- Median Gross Rent (B25064), 2015–2019 ACS 5-year estimates — Elko New Market city, Minnesota
- HUD Fair Market Rents, fiscal year 2027: Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area
- HUD Income Limits, fiscal year 2026: Minneapolis-St. Paul-Bloomington, MN-WI HUD Metro FMR Area
- US Census Bureau, American Community Survey 2020–2024 5-year estimates for ZIP Code Tabulation Areas
- FBI Uniform Crime Reporting Program, Crime Data Explorer: Elko New Market Police Department (ORI MN0701000)
- FBI: Uniform Crime Reporting statistics and their proper use
- Consumer Price Index for All Urban Consumers (CPI-U), US city average, all items, US Bureau of Labor Statistics: annual averages 2019 and 2024
- US Census Bureau, 2024 Gazetteer Files
To check these figures in the Census Bureau’s own API, request the variables below from the 2024 ACS 5-year data profile (acs/acs5/profile) for Elko New Market city, Minnesota (place:18662, in state:27).
Each estimate (E or PE) has a margin of error beside it (M or PM).
The 2015–2019 figures are B01003_001E, B01003_001M, B25064_001E, B25064_001M from the 2019 release.
The API needs a free key.
DP05_0001E, DP05_0001M, DP04_0001E, DP04_0001M, DP04_0047PE, DP04_0047PM, DP04_0134E, DP04_0134M, DP03_0062E, DP03_0062M, DP04_0089E, DP04_0089M
This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
Figures are published by the US Census Bureau, HUD, the Bureau of Labor Statistics and the FBI; Seayora reproduces them and does not adjust them, except where a sentence says it compares dollar figures after inflation. They describe the whole place, not any one building or street, and are not an appraisal, a rent determination, a tax bill, a safety rating or legal advice.
Figures last updated on .