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Lake Elmo, MN
Full City Profile · Minnesota · Pierce County County
3.9
/5.0
B+
Good
12,504
Population
566/sq mi density
$153,407
Median Income
$78,683 per capita
$588,900
Home Value
$616,666 Zillow
$2,204
Median Rent
45.7% income on rent
46°F
Avg Temperature
270 sunny days/yr
187
Violent Crime/100K
4,342 property/100K
B+
Overall
3.9 / 5.0
Good overall score based on economy, affordability, safety and education
A+
Economy
5.0 / 5.0
$153,407 median income, 1.6% unemployment
A+
Affordability
4.5 / 5.0
$588,900 home value, $2,204/mo rent
F
Safety
1.0 / 5.0
187 violent crimes/100K
A+
Education
5.0 / 5.0
61.7% bachelor's degree or higher
Housing Overview
Median Home Value
$588,900
109% above
US avg: $281,900
Median Rent
$2,204/mo
90% above
US avg: $1,163/mo
Homeownership Rate
92.3%
41% above US avg (65.4%)
Total Housing Units
4,369
Median year built: 1998
Home Value by Source
Census Median
$588,900
Zillow (ZHVI)
$616,666
Median Sale Price
$554,792
Median List Price
$699,000
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
92.3%
Owner-Occupied
7.7%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$809/mo
1 Bedroom
$899/mo
2 Bedroom
$1,125/mo
3 Bedroom
$1,483/mo
4 Bedroom
$1,698/mo
Census median rent:
$2,204/mo
Market Indicators (Redfin)
Median Days on Market
71 days
Sale-to-List Ratio
1.0%
Buyers market
Homes Sold
18
Price Drops
20.5%
of listings with price reduction
Price Per Sq Ft
$242
Active Inventory
44
homes for sale
Affordability & Housing Stock
Rent Burden
45.7%
of renters spending 30%+ of income on housing
47% above US avg (31.0%)
Median Year Built
1998
Average age of housing stock: 28 years
Homeownership Rate
92.3%
Complete Housing Data
Home Values
| Census Median Value | $588,900 |
| Zillow Home Value (ZHVI) | $616,666 |
| Median Sale Price | $554,792 |
| Median List Price | $699,000 |
| Price Per Sq Ft | $242 |
Rent
| Census Median Rent | $2,204 |
| FMR Studio | $809 |
| FMR 1-Bedroom | $899 |
| FMR 2-Bedroom | $1,125 |
| FMR 3-Bedroom | $1,483 |
| FMR 4-Bedroom | $1,698 |
Market
| Days on Market | 71 |
| Sale-to-List Ratio | 1.0% |
| Price Drops | 20.5% |
| Homes Sold | 18 |
| Active Inventory | 44 |
| Price Per Sq Ft | $242 |
Ownership & Stock
| Owner-Occupied | 92.3% |
| Renter-Occupied | 7.7% |
| Homeownership Rate | 92.3% |
| Total Housing Units | 4,369 |
| Median Year Built | 1998 |
| Rent Burden | 45.7% |