Rentometer, Inc. | Data as of 10/22/2025
Lake Elmo’s rental market blends the charm of a small‑town atmosphere with convenient access to the Twin Cities, making it a sought‑after location for families, professionals, and retirees alike. The city offers a mix of detached houses and low‑rise apartment communities, many of which are nestled near the scenic Lake Elmo Park Reserve and the tranquil shores of Little Tamarack Lake. Residents enjoy easy access to the historic downtown district, where boutique shops, cafés, and seasonal festivals create a vibrant community feel. Outdoor enthusiasts appreciate the extensive trail network, including the popular Lake Elmo Trail System and nearby Baker Park, while golf lovers take advantage of the well‑maintained Lake Elmo Golf Course.
Rental options in Lake Elmo cater to a variety of lifestyles. One‑bedroom apartments generally fall in the $1,800 range, providing an attractive entry point for singles and couples seeking modern amenities and proximity to commuter routes like Highway 36. Two‑bedroom units typically rent around the $2,100 range, appealing to small families and professionals needing a home office space. For those desiring more space, three‑bedroom apartments approach the $2,850 range, offering roomy layouts ideal for growing households. In addition to apartments, the market includes a modest selection of single‑family homes, often situated on larger lots that provide extra privacy and backyard space. With strong schools, a welcoming community, and a blend of natural and cultural attractions, Lake Elmo stands out as a desirable place to call home in Minnesota’s rental landscape.
| Property Type | Bedrooms | Average | Median | Min - Max | 25th - 75th |
|---|---|---|---|---|---|
| Apartment | 1 Bedroom | $1,781 | $1,804 | $1,611 - $1,996 | $1,703 - $1,849 |
| Apartment | 2 Bedroom | $2,097 | $2,097 | $2,023 - $2,173 | $2,027 - $2,173 |
| Apartment | 3 Bedroom | $2,846 | $2,686 | $2,247 - $3,675 | $2,447 - $3,625 |
In the current period, the average rent in Lake Elmo was
$1,781 for 1 Bedroom,
$2,098 for 2 Bedroom, and
$2,917 for 3 Bedroom.
Note: This analysis includes only bedroom types with sufficient data.
Data provided by Rentometer, Inc.