Elspe is a right tributary of the Volme river. Its source (51°11′47.74″N7°39′47.81″E) 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 (51°12′20.10″N7°34′55.09″E) in Brügge, another part of Lüdenscheid. The Elspe is separated from the Lüdenscheid's built up area by the Nurre mountain range.