Rent to own Homes in Elk River, MN
Positioned near the convergence of the Elk and Mississippi Rivers, just 34 miles northwest of Minneapolis, Elk River has a population of nearly 23,000 and produces energy from the Elk River Dam, developed in 1855. The town was the first in Minnesota to pave a street. Some of Elk River's most notable people include professional hockey players like Paul Martin, Dan Hinote and Joel Otto. The city is also known for multiple UFO sightings.
Elk River, MN is a great place for affordable rent-to-own homes! With a median household income of over $87,755 and a median rent of $1,040, the Elk River, MN rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Elk River, MN. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Elk River, MN Property Resources
Rent to own Homes in Cities Near Elk River, MN
- Anoka
- Apple Valley
- Bloomington
- Burnsville
- Cedar
- Chaska
- Circle Pines
- Columbus
- Coon Rapids
- Crystal
- Dayton
- Deephaven
- Eagan
- Eden Prairie
- Edina
- Falcon Heights
- Fridley
- Gem Lake
- Golden Valley
- Hamel
- Ham Lake
- Hanover
- Hilltop
- Hopkins
- Lauderdale
- Lexington
- Lilydale
- Lino Lakes
- Little Canada
- Long Lake
- Maple Grove
- Maplewood
- Mendota
- Minneapolis
- Minnetonka
- New Hope
- Nowthen
- Orono
- Osseo
- Plymouth
- Prior Lake
- Ramsey
- Rogers
- Shakopee
- St. Anthony
- St Paul
- Vadnais Heights
- Wayzata
- White Bear Lake
- Woodland
Neighborhoods in Elk River, MN
No neighborhoods foundPopular Zip Codes in Elk River, MN
55330 rent to own homesBuying a Home in Elk River, MN
Elk River, MN is seeing rapid growth and Elk River, MN's' housing market remains not optimal with an average home price that is 12% above the 2024 national average. Elk River, MN is part of Sherburne county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Sherburne is 0.97% which is below the national average, which is 0.99%.
Median Home Price in Elk River, MN
Median Rent in Elk River, MN
6 Reasons to Live in Elk River, MN
Opportunities to explore the outdoors! Elk River offers many chances for exploring the great outdoors. Woodland Trail Park contains over 340 acres of wooded parks and trails perfect for hiking. The park features both paved and grass trails, as well as bird watching and picnic areas. The Great Northern Trail includes nearly five miles of paved trails along the path of a former rail line.
Great fine dining and restaurants! There are many restaurants and dining options in Elk River, including Pompeii Pizzeria which serves pizza, salads and desserts. Pour Wine Bar and Bistro offers American fare such as hamburgers, salads and seafood, as well as a large selection of high quality wines.
Rising real estate values! With values increasing over 5 percent in 2014, purchasing a home in Elk River is a great choice. There are also many buying options, including rent to own listings. There are also many great neighborhood options in Elk River including City Center and Meadowvale.
Many entertainment options! There are always entertainment options in Elk River. The Marcus Elk River Cinema features multiple theaters showing the latest Hollywood blockbusters. Nearby, the Roger 18 Theatre includes 18 screens, enough to please any movie fan.
Improve your golf skills! With numerous nearby golf courses, Elk River residents have many options for improving their skills. The Elk River Golf Club features an 18 hole championship course, along with dining options at the club house. Cedar Creek Golf Course includes beautiful greens along a wooded backdrop, and its bar and grill also serves many classic American dishes.
Many older charming homes and newer modern properties! Elk River has many real estate options including modern homes as well as charming older residences. There are also many historical properties that create a more charming community feel. Oliver H. Kelley Farm is a farm home dating back to the 1860s and The Grange, which is the nation's oldest general farm.