Elspe is a right tributary of the Volme river in Germany. Its source is at 413 metres above sea-level near Brenscheid, just south of Piepersloh, a part of the city Lüdenscheid. It empties at 270 metres above sea-level into the Volme in Brügge, another part of Lüdenscheid. The Elspe is separated from the Lüdenscheid's built up area by the Nurre mountain range. It makes two 90ð turns.
Notable buildings in the Elspe valley are SchloÃÂ Neuenhof (Neuenhof Castle) and the Elspe works of the Hueck continuous aluminium casting factory.