Cambridge, MN vs Elk River, MN

Cambridge is moderately more affordable than Elk River, with a 9.4% lower cost of living index. Cambridge scores 93 compared to 103 for Elk River, where the US average is 100. This difference means residents of Elk River can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Cambridge is $1,232/month compared to $1,269/month in Elk River — a 3% difference. Home values follow the same pattern: Cambridge is more affordable at $234,800 median vs $338,300.

Median household income in Cambridge is $67,632 compared to $99,457 in Elk River (-32%). While Elk River is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Cambridge spend roughly 21.9% of their income on rent, more than the 15.3% in Elk River.