Pros and Cons of Living in Elk River

Elk River's core trade-off pairs real, sustained population growth and a strong-performing school district against the highest home values and property tax rate among this batch's four Minnesota markets.

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Pro: real, sustained, multi-decade population growth

Elk River grew from approximately 11,220 residents in 1990 to over 25,835 more recently, up a further real 9.17% since the 2020 Census -- a genuine, sustained relocation-demand story.

Pro: a genuinely strong-performing school district

ISD 728, Minnesota's eighth-largest district, sees its own students outperform peers on state and national exams -- a real, disclosed positive for families.

Con: the highest home values in this batch

Elk River's average home value ($397,506) runs genuinely higher than Fridley, Anoka, or Cottage Grove -- a real cost premium for its growth and newer housing stock.

Con: the highest property tax rate in Sherburne County

Elk River's 1.26% effective property tax rate is the highest documented rate within Sherburne County, above both the county average and the national median.

Key takeaways

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Last reviewed: 2026-08-27. Independent research; not financial, tax, or legal advice -- confirm current figures with a local professional before making a decision.