Is Denver, CO cheaper than Elk River, MN?

Based on cost of living data, Denver, CO is 8.5% more expensive than Elk River, MN. This translates to spending an extra $641 per month.

What salary do I need in Denver, CO to live like I do in Elk River, MN?

If you earn $150,000 in Elk River, MN, you'd need approximately $157,689.657 in Denver, CO to maintain the same standard of living.

How does housing cost compare between Elk River, MN and Denver, CO?

Housing in Denver, CO is 37.1% more expensive than in Elk River, MN. For a two-bedroom apartment, rent is $2,190/month in Denver, CO compared to $1,276/month in Elk River, MN.

How much can I save per month by moving from Elk River, MN to Denver, CO?

Living in Denver, CO costs approximately $641 more per month than Elk River, MN, or $7690 more per year, based on a $150,000 salary.

Elk River, MN vs Denver, CO: Cost of Living Comparison 2026

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Cost of Living Comparison 2026

📍 Elk River, MN — ZIP-level rent data · COL adjusted from Minneapolis, MN area

Current salary in Elk River, MN

Numbers update automatically as you type

You'd spend $641/month more in Denver, CO

$150.0K in your current city equals $157.7K in Denver, CO

Rent data from HUD ZIP-level estimates · COL index from Minneapolis-St. Paul-Bloomington, MN-WI area

Overall Cost

↑ 8.5%

More expensive

Monthly Impact

$641

Extra cost

Annual Impact

$7.7K

Per year

Based on monthly living costs (rent, groceries, utilities, transport, healthcare). Home purchase prices shown separately below.

Elk River, MN

Population:27K

Cost Index:100

Median Home:$403K

Denver, CO

Population:716K

Cost Index:109

Median Home:$513K

Elk River, MN

The North Star State

27K

Population

State Tax

Yes

Located in Minnesota, this city has a population of 27K residents.

Denver, CO

The Centennial State

716K

Population

State Tax

Yes

Climate

Semi-arid

Notable Facts

•Mile-high city (5,280 ft)
•Outdoor recreation hub
•Major cannabis market

Major Industries

AerospaceTechnologyEnergyTourism

Cost Breakdown by Category

Annual spending: Elk River, MN vs Denver, CO

Category	Elk River, MN	Denver, CO	Difference	Change
🏠Housing	$2,370/mo	$3,248/mo	↑ $878more	37.1%
🚗Transportation	$1,295/mo	$1,462/mo	↑ $167more	12.9%
📦Other	$1,665/mo	$1,774/mo	↑ $109more	6.6%
🏥Healthcare	$732/mo	$632/mo	↓ $100less	13.7%
🛒Groceries	$997/mo	$1,029/mo	↑ $32.23more	3.2%
⚡All Utilities	$492/mo	$519/mo	↑ $26.84more	5.5%

🏠Housing

↑ 37.1%

Elk River, MN

$2,370

Denver, CO

$3,248

Difference

$878

🚗Transportation

↑ 12.9%

Elk River, MN

$1,295

Denver, CO

$1,462

Difference

$167

📦Other

↑ 6.6%

Elk River, MN

$1,665

Denver, CO

$1,774

Difference

$109

🏥Healthcare

↓ 13.7%

Elk River, MN

$732

Denver, CO

$632

Difference

$100

less

🛒Groceries

↑ 3.2%

Elk River, MN

$997

Denver, CO

$1,029

Difference

$32.23

⚡All Utilities

↑ 5.5%

Elk River, MN

$492

Denver, CO

$519

Difference

$26.84

🏛️ Local Income Taxes

Denver, CO: Denver Head Tax ($5.75/mo, negligible)$69.00/yr (0.0%)

Elk River, MN has no local income tax.

Local taxes are in addition to state income tax. Not all cities levy local income taxes.

🏠Rent Comparison

Studio

From$925

To$1,720

↑ $795

1 Bed

From$1,053

To$1,840

↑ $787

2 Bed

From$1,276

To$2,190

↑ $914

3 Bed

From$1,691

To$2,870

↑ $1,179

Elk River, MNZIP-level data

1BR range: $1,320–$1,320/mo

Denver, COZIP-level data

1BR range: $1,620–$2,540/mo

💡 Note: Rent prices are based on HUD Fair Market Rent data and represent median costs. Actual prices vary by neighborhood, amenities, and condition. Source: HUD Small Area Fair Market Rents FY2026.

$7,551

Monthly in Elk River, MN

$8,665

Monthly in Denver, CO

$1,113

Difference

Home Values

Elk River

Denver

$403K

Median Value

$513K

↑ +1.9%

YoY Change

↓ -4.2%

↑ +26.9%

5-Year Change

↑ +13%

$403K

Price Range

$352K - $933K

Homes in Denver are 27% more expensive than Elk River

Calculate payment - Elk River Calculate payment - Denver

Source: Zillow Home Value Index (ZHVI), January 2026

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

↑ $3.8K

Per year

Monthly Difference

$319

More take-home

Effective Rate Diff

2.6%

Rate difference

Elk River, MN

Federal Income Tax

Effective: 18.9%

$25.5K

Minnesota State Tax

Effective: 7.0%

$10.4K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 31.6%

$47.4K

Take-Home Pay

$8,546/month

$102.6K

Denver, CO

Federal Income Tax

Effective: 18.9%

$25.5K

Colorado State Tax

Effective: 4.4%

$6.6K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 29.1%

$43.6K

Take-Home Pay

$8,866/month

$106.4K

Additional Tax Information

Elk River, MN Tax Rates

Sales Tax:8.0%

Property Tax:1.1%

Denver, CO Tax Rates

Sales Tax:7.8%

Property Tax:0.5%

💡 Note: Tax calculations are estimates based on 2024/2025 tax brackets for single filers with standard deduction. Actual taxes may vary based on filing status, deductions, credits, and local variations.