HomeMinnesotaScott CountyElko New Market
Elko New Market, Minnesota: commercial real estate data.
Elko New Market is a Census city of 5,002 people across 3.77 square miles of land, in Scott County. Median household income is $152,150, 95.5 percent of occupied homes are owned, and the SBA record carries 13 7(a) approvals to borrowers here worth $5.5 m since FY2020.
Underlined figures are computed by MMCG Analytics, not published by the agency.
Elko New Market
What Elko New Market is
- Census place typecity
- Land area3.77 sq mi
- Water area0 sq mi
- Population per square mile of land1,326
- County holding the largest share of its areaScott County, 100.0 percent
US Census Bureau, cartographic boundary file, places, 2024 vintage. US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Elko New Market
How many people live in Elko New Market
- Population5,002
- Median age33.7
- Population under 181,630
- Share under 1832.6 percent
- Population 65 and over227 plus or minus 115
- Share 65 and over4.5 percent plus or minus 2.3
- Households1,557
- Family households1,420
- Share of households that are families91.2 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Elko New Market
Income and work in Elko New Market
- Median household income$152,150
- Per capita income$52,477
- Civilian labor force2,873
- Employed2,873
- Unemployed0
- Unemployment rate0.0 percent
- Adults 25 and over3,093
- Adults 25 and over with a high school diploma or higher95.4 percent
- Adults 25 and over with a bachelor degree or higher42.1 percent
- Adults 25 and over with a graduate degree16.7 percent plus or minus 5.2
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Elko New Market
Housing in Elko New Market
- Housing units1,689
- Occupied units1,557
- Vacant units132 plus or minus 109
- Vacancy rate7.8 percent plus or minus 6.4
- Owner occupied1,487
- Renter occupied70 plus or minus 76
- Ownership rate95.5 percent
- Median owner-occupied home value$433,100
- Median gross rent, monthly$2,200 plus or minus $863
- Annual rent as a share of median income17.4 percent plus or minus 7.0
- Single family units1,654
- Share single family97.9 percent
- Units in buildings of two or more35 plus or minus 43
- Share in buildings of two or more2.1 percent plus or minus 2.6
- Mobile homes0
- Median year structure built2005
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Elko New Market
How Elko New Market gets to work
- Workers 16 and over who commute2,321
- Commuting under 15 minutes289 plus or minus 131
- Share commuting under 15 minutes12.5 percent plus or minus 5.4
- Commuting 30 minutes or more1,072 plus or minus 259
- Share commuting 30 minutes or more46.2 percent plus or minus 9.5
- Drove alone74.4 percent
- Carpooled5.7 percent plus or minus 3.9
- Public transport0.0 percent
- Walked0.8 percent plus or minus 1.0
- Worked from home18.6 percent plus or minus 6.9
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
Elko New Market
SBA loans in Elko New Market (7(a))
- Approvals13
- Gross approval$5,452,900
- Average approval$419,454
- Median approval$175,000
- Largest approval$1,794,000
- Jobs supported100
- Jobs per approval7.7
- Loans with a final outcome5
- Paid in full4
- Charged off1
- Median term84 months
- Share on real estate terms of 20 years or more15.4 percent
- Share to franchises0.0 percent
- Distinct lenders7
- Distinct industries by NAICS8
Counted by borrower city: approvals to borrowers whose address is in Elko New Market, in any county, FY2020 to FY2026. Only 5 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Elko New Market
Flood risk in Elko New Market
- NFIP communityCity of Elko New Market
- NFIP community number270643
- Participating in the NFIPYes
- Community Rating System classNone
- Currently effective map date02/12/21(M)
The City of Elko New Market participates in the National Flood Insurance Program as community 270643 and carries no Community Rating System class, so no CRS premium discount applies to it.
Federal Emergency Management Agency, NFIP Community Status Book (OpenFEMA), as of 2026-09-26.
Scott County, not Elko New Market
Scott County context, not Elko New Market figures
- Establishments in Scott County3,655
- Covered employment, Scott County63,111
- Average annual pay, Scott County$62,133
- Housing units permitted, Scott County699
Every figure in this section is published for Scott County as a whole and is not a measurement of Elko New Market.
US Census Bureau, County Business Patterns, 2023. US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages. US Census Bureau, Building Permits Survey, 2024 annual.
Coverage
What this page does not hold.
Parcel detail, zoning and the flood zone at an address are not on this page; they resolve at the address in the platform. How this page was built →
Common questions
Elko New Market questions, answered from the record.
How many people live in Elko New Market, Minnesota?
5,002, in 1,557 households. Elko New Market city covers 3.77 square miles of land, which is 1,326 people per square mile. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
What county is Elko New Market in?
Scott County, which holds 100.0 percent of the place by area. Source: US Census Bureau, cartographic boundary file, places, 2024 vintage.
What is the median household income in Elko New Market?
$152,150. The median owner-occupied home is valued at $433,100. Median gross rent is $2,200 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
How much SBA lending goes to Elko New Market businesses?
13 7(a) approvals totaling $5.5 m since FY2020, across 7 lenders, median approval $175,000. These count approvals to borrowers whose address is in Elko New Market, not projects sited inside the place boundary, and they are approvals recorded in the release rather than loans disbursed.
Do SBA loans to Elko New Market borrowers get paid back?
No rate is published for Elko New Market. Only 5 loans have reached a final outcome, fewer than the 30 a charge-off rate needs, so no rate is published. The counts are shown instead.
Is Elko New Market in the National Flood Insurance Program?
Yes. Elko New Market appears in the FEMA Community Status Book as Elko New Market, city of, community 270643, with no Community Rating System class, so no CRS discount applies. Whether a specific parcel sits in a mapped special flood hazard area is an address level question the platform answers.
Are the county figures on this page Elko New Market figures?
No, and they are labeled so. County Business Patterns, QCEW, the Building Permits Survey, BEA product and IRS migration are published for Scott County as a whole and there is no place level equivalent. They appear in one clearly marked section as context and are never presented as measurements of Elko New Market.
Is zoning published for Elko New Market?
No. Nothing on this page presents parcel level zoning.
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