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City Report · NV

Elko

Pop. 20,696·13th most expensive in Nevada·Rental market data updated monthly for Elko, NV
Median rent (all units)
$1,654/mo
Year-over-Year
Stable
Month-over-Month
+9.0%
vs US Median
-$308
Rising (Monthly)
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Most AffordableMost Expensive
Elko · $1,654
More affordable than 65% of US cities · National median $1,962/mo
Affordability
25% of income
AFFORDABLE
0%30% benchmark60%+

At $1,654/mo, rent takes about 25% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$66,000/yr
Local median income
$79,036/yr
Based on the 30%-of-income rule using Elko's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,010
1 BR
$1,130
2 BR
$1,480
3 BR
$1,870
4 BR+
$2,490
Fair Market Rent (HUD)
$1,480/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,654 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$19,848/yr
At $1,654/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.0% YoY, +9.0% MoM), not inventory.
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Demographics

Who lives here

Elko, NV is majority owner-occupied, 17.2% of residents hold a bachelor's degree or higher.

Population
20,696
Median income
$79,036
Median age
33.2
Renters
37.4%
Age distribution
24.4%
29%
24.7%
12.4%
Under 1824.4%
18–3429%
35–5424.7%
55–649.6%
65+12.4%
Gender
51.4%
48.6%
Male51.4%
Female48.6%
Race & ethnicity
66%
28.9%
White66%
Black1.1%
Hispanic28.9%
Asian2.9%
Other1.1%
Education (25+)
14.2%
34.7%
33.9%
17.2%
No HS diploma14.2%
HS diploma34.7%
Some college33.9%
Bachelor's+17.2%
Housing tenure
62.6%
37.4%
Owner62.6%
Renter37.4%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Elko, NV has changed in 5 years

Income
$80,148 → $79,036
down 1.4%
Population
20,391 → 20,696
up 1.5%
Renter share
42.9% → 37.4%
-5.5 pts
Bachelor's+
18.1% → 17.2%
-0.9 pts

Census figures show median household income at $79,036 today, compared with $80,148 five years earlier. Census counts show Elko, NV adding about 305 residents over the five-year window, up 1.5% on net. The renter share has eased from 42.9% to 37.4%, with owner-occupied housing accounting for the remainder.

Community

Discussions about Elko

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View Elko rent history (2015–2026) →
Salary vs rent

Can you afford rent in Elko on your salary?

At $1,654/mo, how Elko rent compares to typical pay (30% rule).

By apartment size

Elko rent by bedroom count

Median rent for each apartment size in Elko. Click any size for full breakdown.

Local insights

Tips for renters in Elko

About renting in Elko, NV

Last updated: August 17, 2026

The median rent in Elko is $1,654/mo as of August 2026. A studio apartment averages $1,010/mo while a 2-bedroom runs $1,480/mo. One-bedroom apartments average $1,130/mo and 3-bedroom units go for $1,870/mo.

At 25% of local median household income ($79,036/yr), Elko ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Elko an affordable city for renters?

Elko is considered affordable for renters. At $1,654/mo, rent takes approximately 25% of the local median household income ($79,036/yr). The standard benchmark is 30%. Elko falls comfortably within that range.

How much income do you need to rent in Elko?

To keep rent at or below 30% of gross income, you would need to earn at least $66,000/year (~$32/hour full-time) to afford the median rent of $1,654/mo in Elko. The local median household income is $79,036/yr, meaning the typical Elko household meets that threshold.

Is rent going up or down in Elko?

Rent in Elko has been relatively stable over the past year, with a 0.0% change year over year as of August 2026.

How does Elko rent compare to other cities in Nevada?

Elko is one of the more affordable cities in Nevada for rent, ranking #13 out of 17 tracked cities at $1,654/mo.

Which nearby cities are cheaper to rent in than Elko?

Twin Falls is nearby and more affordable at $1,584/mo, which is $70 less than Elko.

What percentage of Elko residents rent vs. own?

According to Census data, approximately 37.4% of Elko households are renters, while 62.6% are owner-occupied. Elko leans toward homeownership, which can mean a smaller rental inventory.

How does Elko rent compare to the national average?

Elko's median rent of $1,654/mo is $308 (16%) below the US national median of $1,962/mo. Within Nevada, it ranks #13 out of 17 tracked cities.
Income Affordability
25%
AFFORDABLE

At $1,654/mo, rent takes ~25% of Elko's median household income ($79,036/yr). The standard benchmark is 30%.

Elko 25%Benchmark 30%
State income taxNone
Run the Elko affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Elko, NV

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