Home Insurance in Elk River, Minnesota
The median home value in Elk River is $370,100, close to the Sherburne County median.
The typical home in Elk River was built around 1997. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 7% of homes were built before 1960, about 2 points below Sherburne County's 9%.
Housing in Elk River breaks down to 80% single-family homes and 17% apartments in buildings with 5+ units.
About 77% of owner-occupied homes in Elk River have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 79% of occupied homes in Elk River are owner-occupied. The vacancy rate is 4%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Elk River - 78% - are primarily heated with natural gas.
Sherburne County's top FEMA-rated hazard is strong wind (Relatively High), per FEMA's National Risk Index. Sherburne County had 113 active NFIP flood policies as of September 2026. See the full Sherburne County home insurance overview for all FEMA hazard ratings and flood coverage details.
In Minnesota, the statewide average premium for a standard HO-3 homeowners policy is $1,988 per year (NAIC, 2023 data).
Key figures
| Median home value | $370,100 |
|---|---|
| Median year built | 1997 |
| Owner-occupied share | 79% |
| Share of owner-occupied homes with a mortgage | 77% |
| Top county hazard | Strong Wind (Relatively High) |
| Active NFIP policies in Sherburne County | 113 |
| Home insurance premium | $1,988 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)