Lake Elmo shares many of the great qualities that make Minnesota a desirable place to live.
Minnesota, known as the "Land of 10,000 Lakes", boasts breathtaking landscapes and a thriving arts and cultural community that enchants you. Immerse yourself in Minnesota's roots and history through the City Museum and the Science Museum of Minnesota, or invest in your education through the University of Minnesota, St. Cloud State University, and Minnesota State University, Mankato. In addition, residents can enjoy a vibrant arts and cultural scene in the Twin Cities of Minneapolis and St. Paul, including the famous Walker Art Center and the Minnesota Orchestra, providing a wealth of entertainment options.
Sports enthusiasts can enjoy cheering on professional teams such as the Minnesota Vikings (NFL), Minnesota Twins (MLB), and Minnesota Timberwolves (NBA), providing ample opportunities for excitement. Explore famous attractions like the Mall of America, the James J. Hill House, and the historic town of Duluth, each providing a unique glimpse into Minnesota's history and culture. In addition, the state offers many outdoor recreation opportunities, from boating and fishing in its 10,000 lakes to skiing in the Minnesota River Valley.
Minnesota offers a unique blend of natural beauty, quality of life, and affordability, making it a great place to call home.
As of July 2025, Lake Elmo's rental market is stable, offering a predictable rental market where most units lease within a few weeks. Lake Elmo's average rent is 148.6% ($2,198) higher than the Minnesota average of $1,479 and 107.2% ($1,902) higher than the U.S. average of $1,775.
| Unit Type | Average Rent | Monthly ChangeMonth Over Month Change | Yearly ChangeYear Over Year Change |
|---|---|---|---|
| 1 Bed | $2,942 | 0.5% ($16) | 81.2% ($1318) |
| 2 Beds | $3,728 | 1.2% ($46) | 77.4% ($1627) |
| 3 Beds | $4,514 | 1.1% ($50) | 85.4% ($2079) |
| Nearby Cities | Average Rent | Avg. Rent vs. Lake ElmoAverage Rent vs. Lake Elmo | Avg. Days on MarketAverage Days on Market |
|---|---|---|---|
| Stillwater | $2,709 | 26.3% ($968) | 43 days |
| Newport | $1,266 | 65.6% ($2411) | 44 days |
| Hudson | $1,456 | 60.4% ($2221) | 39 days |
| South Saint Paul | $1,227 | 66.6% ($2450) | 27 days |
| Saint Paul | $1,409 | 61.7% ($2268) | 31 days |
Explore rental prices, market trends, and availability in Lake Elmo, MN.
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