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CITY · 2020 ACS

Elko New Market

Minnesota · 4,846 residents · 3.771 sq mi
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The short version

Elko New Market is significantly wealthier than the US average, with a median household income of $133,333. Population has held roughly steady since 2019. Median home value is $333,800. At a median age of 34.4, residents skew younger than the country as a whole. Poverty is rare here, at 0.4% of residents. Households here earn about 82% more than the Minnesota median.

At a glance
Wealthier
above the US median
US median: $66,278
Younger
median age 34.4
US median: 38.8
More educated
44% hold a bachelor's degree
US average: 33%
Stable housing
home values roughly flat, inflation adjusted
US median home: $265,253
Section 01

Population & growth

Total population
4,846
+4%since 2019
from 4,657 in 2019
2009 – 2025
Population density
1,285 / sq mi
+4%since 2019
from 1,235 / sq mi in 2019
US average: 280
Median age
34.4
+10%since 2019
from 31.3 in 2019
US average: 38.8
Population, 2009 – 2024
3K3K4K5K5K200920202024Elko New Market
20245K
200920202024
Section 02

Income & economy

Median household income
$133,333
+7%inflation adjusted, since 2019
from $123,294 in 2019
US average: $66,278
2009 – 2024
Per capita income
$43,190
+8%since 2019
from $40,023 in 2019
US average: $35,364
Households earning $100K+
91.2%
+0.5 ptssince 2019
from 90.7% in 2019
US average: 43.9%
Poverty rate
0.4%
Unchangedsince 2019
from 0.5% in 2019
US average: 12.8%
Workforce by industry, 2020
Retail trade13.3%
US avg: 10%
Finance & insurance9.9%
US avg: 5.5%
Professional, scientific, technical8.8%
US avg: 4.7%
Other services8.8%
US avg: 6.6%
Public administration7.4%
US avg: 4.7%
Information7.1%
US avg: 11.1%
Wholesale trade6.2%
US avg: 6.7%
Transportation & warehousing1.6%
US avg: 2.5%
Agriculture, forestry, fishing1.2%
US avg: 1.7%
Education & health services1.1%
US avg: 0.8%
Arts, entertainment, food1.1%
US avg: 2%
Manufacturing0.9%
US avg: 0.5%
Construction0.4%
US avg: 1.2%
BARS: THIS PLACE · TICKS: US AVERAGE
Section 03

Housing

Median home value
$333,800
+10%inflation adjusted, since 2019
from $298,500 in 2019
US average: $265,253
2009 – 2024
Median gross rent
$899
US average: $1,124
Owner-occupied
91.6%
−4.1 ptssince 2019
from 95.7% in 2019
8.4% rent
Afford Score
2.5
+3%since 2019
from 2.4 in 2019
2009 – 2024
RELATED:See current rent listings in Elko New Market on RentDataNow
Section 04

Race & ethnicity

2019
White, non-Hispanic93.6%(4,359)
Black2.7%(124)
Hispanic / Latino1.1%(49)
Asian2%(94)
Other0.7%(31)
Diversity Score15.3%(714)
2020
White, non-Hispanic87.6%(4,244)
Black1.5%(73)
Hispanic / Latino4%(196)
Asian2.3%(113)
Other1.4%(69)
Diversity Score22.5%(1,091)
Diversity Score
23
+47%since 2019
from 15 in 2019
2009 – 2024
Section 05

Education

Bachelor's degree or higher
44.4%
−3.6 ptssince 2019
from 48.0% in 2019
US average: 32.9%
High school or higher
97.8%
Unchangedsince 2019
from 97.8% in 2019
US average: 88.5%
Graduate degree
15.9%
+2.0 ptssince 2019
from 13.9% in 2019
US average: 12.7%
Section 06

Commute & transportation

Average commute
31.3 min
+1%since 2019
from 31.0 min in 2019
US average: 26.9
Drive alone to work
85.4%
+0.4 ptssince 2019
from 85.0% in 2019
US average: 75.1%
No vehicle available
0.0%
Unchangedsince 2019
from 0.0% in 2019
US average: 8.4%
Section 07

Work & employment

Unemployment rate
0.8%
−0.6 ptssince 2019
from 1.4% in 2019
US average: 5.4%
Labor force participation
88.4%
+0.1 ptssince 2019
from 88.3% in 2019
US average: 63.4%
Management & professional
43.1%
+0.1 ptssince 2019
from 43.0% in 2019
US average: 39.3%
Section 08

People & community

Male
47.9%
−1.3 ptssince 2019
from 49.2% in 2019
Female
52.1%
+1.3 ptssince 2019
from 50.8% in 2019
Foreign born
3.4%
−1.2 ptssince 2019
from 4.6% in 2019
US average: 13.5%
Uninsured
4.3%
−0.7 ptssince 2019
from 5.0% in 2019
US average: 8.8%
Drill deeper

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Compare Elko New Market to nearby cities

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Income$139,041+4%
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ELKO NEW MARKET VS
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ELKO NEW MARKET VS
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ELKO NEW MARKET VS
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Population8,238+55%
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Frequently asked

How many people live in Elko New Market, Minnesota?

Elko New Market, Minnesota has about 4,846 residents according to the 2020 American Community Survey.

What is the median household income in Elko New Market, Minnesota?

The typical household in Elko New Market, Minnesota earns about $133,333 a year. Half of households make more than that, and half make less.

Is Elko New Market, Minnesota expensive?

In Elko New Market, Minnesota, the median home is worth about $333,800, and the typical rent is about $899 a month.

How educated are people in Elko New Market, Minnesota?

About 44.4% of adults age 25 and over in Elko New Market, Minnesota hold a bachelor's degree or higher.

What is the poverty rate in Elko New Market, Minnesota?

About 0.4% of people in Elko New Market, Minnesota live below the federal poverty line.

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DATA: US CENSUS BUREAU ACS 5-YEAR + DECENNIAL CENSUS · UPDATED 2024

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