Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the Lake Elmo area can be challenging. Home prices in Lake Elmo are now at a median cost of $499,191, higher than the Minnesota average of $269,934.
The average cost of rent is $1,213/mo in Lake Elmo, primarily driven by the current value of real estate in the Lake Elmo area. While nearly 32.48% of residents own their homes outright in Lake Elmo, 5.00% rent.
Housing affordability isn’t just about home prices, though. The average household income in Lake Elmo is $13,946 per month. Households that rent pay about 8.70% of their income on rent here. Lake Elmo's most expensive areas are in the northwestern regions, while the cheapest areas are in the southeastern parts of the city.
Nearby Cities
- Oakdale, MN: less expensive homes
- Pine Springs, MN: less expensive homes
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- Woodbury, MN: less expensive homes
- Stillwater, MN: less expensive homes
- Mahtomedi, MN: less expensive homes
- Bayport, MN: less expensive homes
Cities with Similar Populations
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- Oak Grove, MO: less expensive homes
- Oatfield, OR: less expensive homes
- Oneida, NY: less expensive homes
- Pacific, MO: less expensive homes
- Pagosa Springs, CO: less expensive homes
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