salaryRent is lower than in 71% of U.S. cities. A typical house costs about 3.6 years of household income.
How much money do I need?
To rent here comfortably, you should earn about $51,080 a year. That is $25 an hour at a full-time job.
Is rent cheaper than other Nevada cities?
Yes. Rent here is cheaper than in most of Nevada. It is number 4 of 34 cities from cheapest to most expensive.
How much do households earn in Elko?
Share of households by yearly income. 28.9% of households earn $100,000 or more.
Rent by apartment size in Elko
| Size | Elko | U.S. average |
|---|---|---|
| Studio | $868 | $1,338 |
| 1 bedroom | $975 | $1,324 |
| 2 bedrooms | $1,360 | $1,509 |
| 3 bedrooms | $1,780 | $1,698 |
| 4 bedrooms | $2,314 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Elko overall?
Everyday prices in Nevada overall are same as the U.S. average (index 100.0, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Elko, so the Nevada figure is shown.
Taxes and bills in Elko
Life in Elko
Is it cheaper to rent or buy in Elko?
Renting is cheaper right now: about $868 a month less.
Owning assumes a typical $309,100 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $30,910 for the down payment.
Frequently asked questions
What is the average rent in Elko, NV?
Renting in Elko costs a median of about $1,277 a month in 2026, including utilities. The Nevada median is $1,742.
How much do I need to make to live in Elko?
To keep rent under 30% of income, you need about $51,080 a year, or $25 an hour at a full-time job.
Is Elko cheap or expensive?
Elko is rated Cheap: rent takes 18.0% of the typical household income of $85,240. It ranks 4th cheapest of 34 Nevada cities we track.
How much are property taxes in Elko?
The median homeowner in Elko pays $1,344 a year in property taxes, about 0.43% of the median home value.
Is Elko more expensive than the national average?
Overall prices in Nevada are same as the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Elko?
The median home value in Elko is $309,100, about 3.6 times the typical yearly household income.
20,696 people live in Elko. Numbers are typical (middle) values.