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Elko New Market, MN

This is a small community in a single neighborhood. As throughout the site, some neighborhood-level data are reserved for subscribers.





Overview


Elko New Market is a somewhat small city located in the state of Minnesota. With a population of 5,048 people and just one neighborhood, Elko New Market is the 160th largest community in Minnesota. Much of the housing stock in Elko New Market was built relatively recently. The construction of new real estate can often be taken as an indication that the local Elko New Market economy is robust, and that jobs or other amenities are attracting an influx of new residents. This seems to be the case in Elko New Market, where the median household income is $147,381.00.

Elko New Market real estate is some of the most expensive in Minnesota, although Elko New Market house values don't compare to the most expensive real estate in the U.S.

Occupations and Workforce

Elko New Market is a decidedly white-collar city, with fully 87.27% of the workforce employed in white-collar jobs, well above the national average. Overall, Elko New Market is a city of professionals, sales and office workers, and managers. There are especially a lot of people living in Elko New Market who work in office and administrative support (12.18%), sales jobs (11.03%), and healthcare (9.09%).

Also of interest is that Elko New Market has more people living here who work in computers and math than 95% of the places in the US.

A relatively large number of people in Elko New Market telecommute to their jobs. Overall, about 20.33% of the workforce works from home. While this may seem like a small number, as a fraction of the total workforce it ranks among the highest in the country. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.

Setting & Lifestyle

Because of many things, Elko New Market is a very good place for families to consider. With an enviable combination of good schools, low crime, college-educated neighbors who tend to support education because of their own experiences, and a high rate of home ownership in predominantly single-family properties, Elko New Market really has some of the features that families look for when choosing a good community to raise children. Is Elko New Market perfect? Of course not, and if you like frenetic nightlife, it will be far from your cup of tea. But overall this is a solid community, with many things to recommend it as a family-friendly place to live.

In Elko New Market, however, the average commute to work is quite long. On average, people spend 30.25 minutes each day getting to work, which is significantly higher than the national average.

As is often the case in a small city, Elko New Market doesn't have a public transportation system that people use for their commute.

Demographics

The education level of Elko New Market ranks among the highest in the nation. Of the 25-and-older adult population in Elko New Market, 40.36% have at least a bachelor's degree. The typical US community has just 21.84% of its adults holding a bachelor's degree or graduate degree.

The per capita income in Elko New Market in 2022 was $52,646, which is wealthy relative to Minnesota and the nation. This equates to an annual income of $210,584 for a family of four.

Elko New Market is a somewhat ethnically-diverse city. The people who call Elko New Market home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of Elko New Market residents report their race to be White, followed by Black or African-American. Important ancestries of people in Elko New Market include German, Irish, Norwegian, Swedish, and English.

The most common language spoken in Elko New Market is English. Other important languages spoken here include Polish and Spanish.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

People

According to NeighborhoodScout's exclusive analysis, is among the best neighborhoods for families in Minnesota. In fact, this neighborhood is more family-friendly than 98.3% of neighborhoods in the entire state of Minnesota. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for highly educated executives and urban sophisticates.

In addition, priests and therapists would like to think they know the secrets to a truly successful marriage, but according to NeighborhoodScout's research, the folks of the neighborhood may actually hold the key. 71.9% of its residents are married, which is a higher percentage than is found in 97.6% of the neighborhoods in America.

Real Estate

One way that the neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 97.0% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.

In addition, owner-occupied real estate dominates the neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 95.9% of neighborhoods in America.

Diversity

Did you know that the neighborhood has more Norwegian and Swedish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 14.3% of this neighborhood's residents have Norwegian ancestry and 6.6% have Swedish ancestry.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the neighborhood in Elko New Market are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 89.8% of the neighborhoods in America. In addition, 3.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 71.2% of America's neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the neighborhood, 49.1% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 23.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (13.9%), and 13.9% in manufacturing and laborer occupations.

Languages

The most common language spoken in the neighborhood is English, spoken by 94.9% of households.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the neighborhood in Elko New Market, MN, residents most commonly identify their ethnicity or ancestry as German (38.3%). There are also a number of people of Norwegian ancestry (14.3%), and residents who report Irish roots (12.5%), and some of the residents are also of English ancestry (6.7%), along with some Swedish ancestry residents (6.6%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in neighborhood spend between 15 and 30 minutes commuting one-way to work (41.7% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (76.3%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


Real Estate includes:
Average Home Values
Rental Market
Housing Market Details
Neighborhood Setting
Economics & Demographics include:
Lifestyle & Special Character
Household Types
Commute To Work
Migration & Mobility
Race & Ethnic Diversity
Employment Industries & Occupations
Income & Unemployment Rate
Higher Education Attainment
Crime includes:
Neighborhood Crime Index
Crimes Per Square Mile
Property Crime Comparison
Violent Crime Comparison
Schools include:
School Ratings
Schools In District
Public School Test Scores
School District Enrollment
Educational Expenditures

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