Elk River, MN vs St. Anthony city (Hennepin and Ramsey Counties), MN

Elk River is moderately more affordable than St. Anthony city (Hennepin and Ramsey Counties), with a 6% lower cost of living index. Elk River scores 103 compared to 109 for St. Anthony city (Hennepin and Ramsey Counties), where the US average is 100. This difference means residents of St. Anthony city (Hennepin and Ramsey Counties) can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Elk River is $1,269/month compared to $1,413/month in St. Anthony city (Hennepin and Ramsey Counties) — a 10% difference. Home values follow the same pattern: Elk River is more affordable at $338,300 median vs $365,700.

Median household income in Elk River is $99,457 compared to $97,784 in St. Anthony city (Hennepin and Ramsey Counties) (+1.7%). Elk River offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Elk River spend roughly 15.3% of their income on rent, less than the 17.3% in St. Anthony city (Hennepin and Ramsey Counties).