The village is the largest incorporated community in Antrim County, with a population of 1,529 at the 2020 census.

The village is located within Elk Rapids Township, in the southwest of Antrim County, and is on the shore of Grand Traverse Bay, a bay of Lake Michigan.

Elk Rapids is located about 12 miles (19 km) southwest of Bellaire, the county seat, and about 13 miles (21 km) northeast of Traverse City, the largest city in Northern Michigan.

The first settler in the Elk Rapids area was Abram S. Wadsworth, from Connecticut.

[5] In 1892, Elk Rapids became a station on a spur of the Chicago and West Michigan Railway.

Elk Rapids lies about 2 miles (3.2 km) north of the Grand Traverse County line.

[8] This climatic region has large seasonal temperature differences, with warm to hot (and often humid) summers and cold (sometimes severely cold) winters.As of the census[11] of 2010, there were 1,642 people, 791 households, and 478 families residing in the village.

34.8% of all households were made up of individuals, and 17.9% had someone living alone who was 65 years of age or older.

34.6% of all households were made up of individuals, and 17.3% had someone living alone who was 65 years of age or older.