Old Town Apartments
220 Old Town Rd,
Elko New Market, MN 55054
$1,350 - $1,800 Plus Fees
1-2 Beds | 12 Month Lease
Rental Market Trends in Elko New Market, MN
What is the average rent in Elko New Market, MN?
$1,427/month
Average Rent
782 Sq Ft
Average Apartment Size
+4.2%
Increase in the Last Year
As of April 2026, the average rent in Elko New Market, MN is $1,427 per month. For comparison, the national average rent price in the US is currently $1,627/month, which means Elko New Market rent prices are 12% lower than the national average. When you rent an apartment in Elko New Market, you can expect to pay about per month for a studio, $1,427 for a one-bedroom apartment, and around $1,879 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Elko New Market, MN?
In the past year, rent has increased by 4.2%, which averages out to $61 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated April 2026
Legend
2025
2026
Rent Ranges in Elko New Market, MN
Last Updated April 2026
$1,501 - $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
0%
$1,001 - $1,500/month
100%
$1,501 - $2,000/month
0%
Above $2,000/month
What salary do I need to live comfortably in Elko New Market, MN?
Because the average rent in Elko New Market is $1,427, you’ll want to make about $4,756 per month or $57,072 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Elko New Market, MN compare to other nearby cities and neighborhoods?
Use the tool below to compare Elko New Market, MN to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2026.
* Percentages may not total 100 due to rounding.