The typical owner-occupied home in Elk River is worth about $225,000, 46% below the Idaho median of $418,600 and 32% below the national median of $332,700. Owners pay a median $1,333 a year in property taxes, about 0.59% of their home's value, higher than the Idaho rate of 0.49%. The median household earns $54,904 a year, so the median home costs 4.1 times the median income (5.4 times for Idaho). 90% of occupied homes here are lived in by their owners, and 50% of those owners still have a mortgage.
Elk River at a glance
| Elk River | Idaho | U.S. | |
|---|---|---|---|
| Median home value | $225,000 | $418,600 | $332,700 |
| Median property tax paid per year | $1,333 | $2,038 | $3,119 |
| Property tax as a share of value | 0.59% | 0.49% | 0.94% |
| Median household income | $54,904 | $77,800 | $80,734 |
| Homes lived in by their owners | 90% | 72% | 65% |
| Owner homes with a mortgage | 50% | 62% | 61% |
| Median monthly costs, owners with a mortgage | $1,292 | $1,687 | $1,963 |
| Those costs as a share of the owners' income | 19.6% | 20.7% | 21.0% |
| Median rent | – | $1,238 | $1,413 |
| Median year homes were built | 1959 | 1991 | 1980 |
| Vacant homes | 57.9% | 10.3% | 10.1% |
| Population | 124 | 1,934,262 | 334,922,499 |
What a typical home costs per month in Elk River
At this week's average 30-year rate of 7.11%, buying the median Elk River home of $225,000 with 20% down costs about $1,415 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,790, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $60,654 for the 20%-down payment. That payment is 31% of the median Elk River household income of $54,904; at that income and 20% down, the 28% guideline points to a home of about $204,000.
| Down payment | $45,000 |
|---|---|
| Loan amount | $180,000 |
| Principal and interest | $1,211 |
| Property taxes (0.59% a year) | $111 |
| Homeowners insurance (our estimate, 0.5% a year) | $94 |
| PMI | $0 |
| Total per month | $1,415 |
Change the numbers in the calculator
| Down payment | $7,875 |
|---|---|
| Loan amount | $220,925 |
| Principal and interest | $1,486 |
| Property taxes (0.59% a year) | $111 |
| Homeowners insurance (our estimate, 0.5% a year) | $94 |
| FHA mortgage insurance | $100 |
| Total per month | $1,790 |
Change the numbers in the calculator
Questions about home buying in Elk River
What is the median home value in Elk River?
About $225,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Elk River?
Homeowners pay a median $1,333 a year, which is about 0.59% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Elk River?
For the median home with 20% down at 7.11%, the payment is about $1,415 a month. Keeping that under 28% of gross income takes about $60,654 a year.
More about Elk River
- Mortgage Refinance in Elk River
- Debt Relief in Elk River
- Home Equity Loans in Elk River
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data