Elko New Market, MN vs Fergus Falls, MN

The cost of living difference between Elko New Market, MN and Fergus Falls, MN is dramatic. Fergus Falls is 91.1% cheaper than Elko New Market, a gap that translates to thousands of dollars per year in household expenses. Elko New Market has a cost index of 140 while Fergus Falls sits at 73, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Elko New Market is $2,311/month compared to $839/month in Fergus Falls — a 175% difference. Home values follow the same pattern: Fergus Falls is more affordable at $173,300 median vs $407,400.

Median household income in Elko New Market is $147,381 compared to $50,865 in Fergus Falls (+189.7%). While Elko New Market is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Elko New Market spend roughly 18.8% of their income on rent, less than the 19.8% in Fergus Falls.