Elk River, MN vs Mound, MN

Elk River, MN and Mound, MN have a very similar cost of living, with only a 3.7% difference in their overall index. Elk River scores 103 while Mound scores 99 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Elk River is $1,269/month compared to $1,119/month in Mound — a 13% difference. Interestingly, home values tell a different story: while Mound has cheaper rent, Elk River actually has lower median home values ($338,300 vs $348,600).

Median household income in Elk River is $99,457 compared to $91,370 in Mound (+8.9%). 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 Elk River spend roughly 15.3% of their income on rent, more than the 14.7% in Mound.