Elko New Market, MN vs Long Lake, MN

There is a significant gap in the cost of living between these two cities. Long Lake is 19.1% cheaper than Elko New Market. With a cost index of 118 vs 140, the difference would have a meaningful impact on a household's monthly budget. Someone relocating from Long Lake to Elko New Market should plan for substantially higher expenses across most categories.

On the housing front, median rent in Elko New Market is $2,311/month compared to $1,613/month in Long Lake — a 43% difference. Home values follow the same pattern: Long Lake is more affordable at $391,400 median vs $407,400.

Median household income in Elko New Market is $147,381 compared to $95,972 in Long Lake (+53.6%). 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 20.2% in Long Lake.