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<br />2024 Sherburne County Housing Study I Elk River Excerpts
<br />3/3/25
<br />• Population Projections 2020 - 2030
<br />o Elk River: 25,835 -> 29,119 (+3,284, 12.7%o)
<br />o Sherburne: 97,183 -> 106,809 (+9,626, 9.9%)
<br />• Housing Demand 2024 - 2030
<br />o For Sale
<br />■ Elk River: 712 (498 SF, 214 MF)
<br />■ Sherburne: 2,118 (1,584 SF, 534 MF)
<br />o Rental
<br />■ Elk River: 347 (208 MR, 87 Aff, 52 Sub)
<br />■ Sherburne: 926 (528 MR, 260 Aff, 138 Sub)
<br />o Senior
<br />■ Elk River: 489 (268 AA, 221 SE)
<br />■ Sherburne: 2,205 (1,495 AA, 710 SE)
<br />o Total (FS, R, S)
<br />■ Elk River: 1,548
<br />■ Sherburne:5,249
<br />• For Sale Market Analysis
<br />o Median Resale Value 2023
<br />■ Elk River: $418,000
<br />■ Sherburne: $375,000
<br />Year
<br />No.
<br />Sold
<br />Avg.
<br />Sold Price
<br />Median
<br />Sold Price
<br />Avg.
<br />Time on
<br />Market'
<br />Elk River Submarket
<br />2015
<br />415
<br />$236,654
<br />$228,000
<br />83
<br />2016
<br />365
<br />$255,150
<br />$242,000
<br />66
<br />2017
<br />334
<br />$285,277
<br />$272,000
<br />51
<br />2018
<br />396
<br />$292,078
<br />$280,450
<br />48
<br />2019
<br />440
<br />$308,230
<br />$294,950
<br />57
<br />2020
<br />484
<br />$338,978
<br />$330,000
<br />50
<br />2021
<br />491
<br />$388,788
<br />$375,000
<br />21
<br />2022
<br />377
<br />$419,735
<br />$405,005
<br />29
<br />2023
<br />259
<br />$421,300
<br />$399,900
<br />47
<br />2024*
<br />91
<br />$425,367
<br />$418,000
<br />87
<br />Pct. Change
<br />15 to 19
<br />6%
<br />30%
<br />29%
<br />--
<br />20 to 23
<br />-46%
<br />24%
<br />21%
<br />--
<br />15 to 23
<br />-38%
<br />78%
<br />75%
<br />--
<br />
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