Living in Lake Elmo, Minnesota
Cost of living, income, home prices, rent and demographics of Lake Elmo · Census data 2020–2024
Lake Elmo has 13,140 residents with a median age of 40.8. The median household income is $153,669 (73% higher than the Minnesota median), the median home value is $597,000, the median rent is $2,407/month.
Lake Elmo at a glance
- Population
- 13,140
- Median age
- 40.8State: 38.8
- Median household income
- $153,669State: $89,062
- Median home value
- $597,000State: $329,300
- Median rent
- $2,407/moState: $1,280
- Homeowners
- 93.5%
- Bachelor's degree or higher
- 61.9%
- Average commute
- 23 min
Is Lake Elmo a good place to live?
Pros: Median household income 73% higher than the Minnesota median; unemployment of 2.3%; a poverty rate of 4.8%.
Cons: Home values 81% higher than the state median; an average commute of 23 minutes.
The weather is best in June to September.
Cost of living in Lake Elmo
Housing is the biggest part of the cost of living. In Lake Elmo the median home value is $597,000, 79% higher than the U.S. median. Renters pay a median of $2,407 per month, which is 49% of household income. Homeowners with a mortgage pay $2,839 a month in housing costs.
Lake Elmo median household income
The median household income in Lake Elmo is $153,669 and the income per person is $76,087. 4.8% of residents live below the poverty line (Minnesota: 9.3%).
Housing in Lake Elmo: homes for sale and rent
- Housing units
- 4,897
- Owner-occupied
- 93.5%
- Renter-occupied
- 6.5%
- Vacant
- 3.7%Includes seasonal homes
- Median year built
- 2004
- Average household size
- 2.78
Lake Elmo demographics
- Population
- 13,140
- Median age
- 40.8
- Under 18
- 27%
- 65 and older
- 16.9%
- Households
- 4,714
- Foreign-born
- 4.6%
- Veterans
- 7.8%Adults 18+
Hispanic or Latino can be of any race. Population history of Lake Elmo ›
Education in Lake Elmo
61.9% of adults 25 and older in Lake Elmo have a bachelor's degree or higher (Minnesota: 39.4%), and 23.3% have a graduate or professional degree.
Jobs and commute in Lake Elmo
- Unemployment rate
- 2.3%State: 4.1%
- Average commute
- 23 minState: 23 min
- Work from home
- 36.6%
- Drive alone
- 57.1%
- Public transit
- 0.2%
- Walk to work
- 0%
- Homes with broadband
- 94.9%
Lake Elmo vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Lake Elmo | 13,140 | $153,669 | $597,000 | $2,407 |
| Oakdale | 28,585 | $93,772 | $318,100 | $1,481 |
| Pine Springs | 395 | $156,250 | $626,600 | — |
| Landfall | 776 | $42,000 | $18,900 | — |
| North St. Paul | 12,570 | $84,797 | $298,500 | $1,352 |
| Willernie | 495 | $85,531 | $331,300 | $1,322 |
| Woodbury | 78,305 | $125,310 | $450,200 | $1,908 |
| Oak Park Heights | 4,756 | $82,476 | $354,800 | $1,443 |
| Birchwood Village | 866 | $156,563 | $462,800 | $1,681 |
More for people moving to Lake Elmo
Lake Elmo ZIP code ›Weather and climate ›Living in Lake Elmo: FAQ
What is the median household income in Lake Elmo, MN?
The median household income in Lake Elmo is $153,669, 73% higher than the Minnesota median of $89,062 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Lake Elmo?
The median home value in Lake Elmo is $597,000, compared with $329,300 in Minnesota.
How much is rent in Lake Elmo?
The median gross rent in Lake Elmo is $2,407 per month, about 49% of household income.
Is Lake Elmo, MN a good place to live?
Pluses: median household income 73% higher than the Minnesota median; unemployment of 2.3%; a poverty rate of 4.8%. Minuses: home values 81% higher than the state median; an average commute of 23 minutes.
What is the median age in Lake Elmo?
The median age in Lake Elmo is 40.8 years (Minnesota: 38.8).
How long is the commute in Lake Elmo?
The average commute to work in Lake Elmo is 23 minutes; 36.6% of workers work from home.
What is the unemployment rate in Lake Elmo?
The unemployment rate in Lake Elmo is 2.3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Lake Elmo?
61.9% of adults in Lake Elmo have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
Last updated: